The Covid-19 situation has created some interesting dynamics in the world today. The dramatic increase in remote working; downturns in some businesses with bursts of growth in others; and varying demand in different real estate markets are just a few of those impacts.
If we look more deeply at technology impacts, 94% of organizations are contracting their IT budgets due to Covid-19, and many are cutting costs by freezing or reducing headcount. What this means is that the IT labor pool now has a glut of talent that is seeking employment. This creates an opportunity for infrastructure and operations leaders to “strike while the iron is hot,” and hire the talent that can meet their needs in helping to make a digital transformation for their organization.
The issue is that this hiring opportunity won’t last forever–it’s a finite window that exists now. This becomes apparent if we compare talent supply versus talent demand (Figure 1).
So what should you do? Develop an effective plan to hire the professionals with the skills and competencies that you need to succeed. My colleague at Gartner, Duncan Prosser, has produced an excellent guide on how to take advantage of this hiring opportunity. It is entitled, I&O Leaders Must Hire Now, While Talent Is Widely Available. This document features many powerful insights that can help to develop an effective hiring plan for I&O leaders.
As the saying goes, there is nothing bad that is not good for something. In this case, the Covid-19 situation has provided a window of opportunity to hire much needed talent. The time to take advantage of this situation is now before that window closes.