Reasons for the High Demand for Specialists
The Covid-19 pandemic that began last year has made dramatic changes in the labor market. Some areas could not withstand the new realities. Many entrepreneurs had to shut down their businesses or lay off some of their employees due to low income or no income at all. But the IT industry has managed to adapt through a flexible and democratic approach to business organization. However, structural changes have also taken place in this industry. Sergey Kartashov (Sergejs Kartasovs), CEO of the IT asset management company Generation Partners, clarifies how the IT market is adapting to the conditions created by the coronavirus, for what reasons it faces “overheating,” and what are the disadvantages of remote working for IT specialists.
When a home turns into an office
The advantages of working remotely from the office have long been appreciated by freelancers and outsourcers. But ordinary full-time workers became acquainted with work like this only in 2020, perceiving it more as a privilege. Covid-19 has forced employers to massively shift their employees to working from home. And now, lots of businessmen in the US are trying to persuade their workers to “return” to their offices, facing indignation and even protests. According to surveys, more than 40% of American IT specialists are not going to return to their previous work schedule, preferring to work remotely.
Today, the countries’ borders have become just a formality. That is, any programmer can notionally be on the staff of an Irish company, and at the same time live in Kyiv or even at one of the picturesque resorts in Thailand. According to Sergey Kartashov, remote work has its advantages for business owners as well.
As the CEO of Generation Partners notes, some companies have completely closed their offices, thereby saving on paying rent. Other firms have decided to cut their costs by refusing the services of non-technical workers, such as secretaries, office managers, and office cleaners. The staff includes only those specialists who directly create added value, specialists responsible for the programming process, product testing, product sales, and so on. In addition, due to lockdowns and closed borders, there are no longer as many events as before, and that significantly reduces costs. But, according to Sergey Kartashov, this adversely affects the corporate culture.
The remote mode of working has other disadvantages as well. For instance, the working day boundaries are not clearly defined, workers often experience unnecessary stress, burn out quickly, and their productivity decreases. But according to Sergey Kartashov, remote working has already become a part of our life.
Why does demand exceed supply?
The spring-summer 2020 quarantine restrictions have led to another important change. Many business owners had to switch to online. For example, the closing of cafes and restaurants resulted in ordering food on websites. Nowadays, you can buy almost everything online, as well as use the services of administrative institutions and banks, and even register for a covid test in any certified laboratory. But all this is impossible without the appropriate software, apps for mobile phones, cloud storage, cybersecurity, and so on. This is what the IT industry is dealing with.
That is why the demand for IT products has grown so much in 2021, and the labor market is now full of vacancies. As Sergey Kartashov (Sergejs Kartasovs) notes, today the demand for some positions is much higher than the supply. For example, some companies even consider inexperienced applicants, and in order to get a specialist, they resort to an artificial increase in salaries. Such an approach creates a huge difference between the income of IT specialists and other professions.
All this provokes the so-called “overheating economy” of the IT market, and experts cannot accurately predict what this may lead to.
Migration of specialists
Another hallmark of the changes that have taken place is the massive outflow of IT workers. For instance, the employees often leave their small companies for the big representatives of this business attracted by better working conditions, higher salaries, and participation in the development of interesting products.
When employees are already thinking about changing jobs, any innovations that do not suit them can result in mass layoffs. The expert suggests that this situation may become an incentive for employers to think over personnel policy and social guarantees, as well as revise the company’s philosophy, if necessary.
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