How Companies Can Create Their Own Talent Pipelines
General Assembly’s Recruit-Train-Deploy model helps talent teams use community-based development programs, apprenticeships, and active engagement to create a pipeline for junior tech talent.
One would think that the demand for technology professionals would have subsided in 2023. The pandemic is seemingly over, and employees are rapidly returning to the office, which will diminish the necessity for remote support technologies.
The highly publicized tech layoffs of global organizations such as Meta, Microsoft, and Amazon seem to indicate that digital transformation efforts have moderated. Add to that an uncertain economic environment driven by spiraling interest rates and transitory shifts in consumer behavior, and one could conclude that the demand for technical talent has normalized.
The Real Picture
Any interpretative conclusion made from those on-the-surface indicators would be wrong, however. The demand for tech talent continues to surge. The layoffs don’t signify reduced demand for these skill sets. Tech giants are simply correcting instances of over-commitment in hiring and over-investment in certain technologies.
Some companies even hoarded talent for a while. Those tech workers that have been let go are being quickly absorbed by companies of other industries which had previously found themselves locked out of the tech recruiting competition.
According to the January job report from the U.S. Bureau of Labor Statistics (BLS), the unemployment rate for the technology job market fell to 1.5% in January. In fact, it is estimated that 109,000 IT jobs were left unfulfilled that month due to a lack of qualified candidates. That gap may prove hard to fill — the BLS projects that employment in computer and IT occupations will grow 15% from 2021 to 2031, eclipsing the average of all occupations.
In Europe, the tech talent gap will only expand, according to a McKinsey Report that predicts the talent gap to fall between 1.4 million and 3.9 million people by 2027 within the EU. While AI may indeed reduce the reliance on human workers, the demand for the developers of AI automation is off the charts.
Business Challenges
Turnover for any position is expensive, but more so for highly skilled technology positions, as turnover drives down the ROI of costly talent acquisition strategies. Specialized technology skills take time to develop, and the supply of these specialists is failing to meet demand as companies increasingly rely on complex IT systems.
A shortage of professionals with skill sets in cloud computing, AI, machine learning, and cybersecurity is contributing to delays in achieving digital transformation goals and the scheduled delivery of product innovations. Because new talent is not being cultivated quickly enough, companies are finding it difficult to reach their diversity, equity, and inclusion goals.
The Shortcomings of Traditional Recruiting
General Assembly conducted an extensive study involving more than 1,000 hiring managers from 10 countries to learn more about the challenges that companies are facing today when it comes to attaining and retaining IT talent. Indicators show that the traditional approach to recruitment is not working today.
- 91% of survey respondents were either extremely, very, or somewhat concerned that recruitment and hiring methods will not be enough to fill their open positions in engineering, data analytics, data science, and UX design.
- The average hiring process takes seven weeks to complete, with more than 25% of organizations spending nine or more weeks to fill open positions.
- For several companies, including the U.S., the average cost to fill a tech role is just under $30,000.
The data also shows that companies are still unable to diversify their technical workforces to meet DEI objectives.
- Only 27% of applicants for high-level tech roles come from diverse backgrounds.
- Over the past two years, less than one-third of hires have come from non-traditional backgrounds.
- A resounding 87% of survey respondents agreed that their company had not made the necessary changes to the hiring process to meet diversity goals.
The problem is that companies are still turning to the same existing networks for talent. In the same way that the practice of overfishing an area leads to diminishing returns over time, companies need to reduce their reliance on the exclusive use of network resources such as LinkedIn.
A Pipeline of Talent
Businesses must transition from the practice of endlessly sourcing candidates to a predictable pipeline of junior tech talent. By creating a pipeline of junior talent using the Recruit–Train–Deploy model initiated by General Assembly, organizations can have reliable access to the highly sought-after talent it needs to step into critical roles. With this model, companies can strategically create a system that delivers a dependable flow of skilled and qualified individuals to step into key positions as they become available.
Recruit–Train—Deploy
In the same way that companies have relied on technology leaders to navigate their businesses through the digital transformation process, C-suite executives need to empower talent leaders to build the technical workforce their business objectives will depend on in the coming years.
Rather than chasing the same exhaustive pool of individuals, talent teams will work to establish pipelines to feed junior tech talent into their organizations. Community-based workforce development programs such as tech industry apprenticeships are producing results. By actively engaging within their communities, these pipelines can develop talent that is local to the community and will be more likely to commit to an employer.
General Assembly has been actively working to create this pipeline of young talent. Today, the company specializes in cultivating today’s most in-demand skill sets that companies desperately need. In addition to understanding the hiring challenges that companies face today, General Assembly is creating strategies to overcome those challenges and create a competitive advantage for their client partners. This strategy consists of three focused areas.
- Recruit – During the recruiting process, General Assembly looks outside the limited university graduate pool for non-traditional, new-to-technology learners with diverse backgrounds.
- Train – Candidates are immersed in a comprehensive and intense training program designed and taught by industry experts to ensure learners can fulfill a job role from day 1.
- Deploy – General Assembly then deploys and manages new talent on a 12–18-month contract basis, giving clients the option to hire them as full-time employees after that.
Dedication to nurturing and investing in emerging talent is paramount for businesses striving to maintain industry leadership. This strategy is not only more cost-effective than vying for candidates from the over-saturated talent pool, but it also yields long-term benefits, offering a tangible return on investment well into the future.
Through the Recruit-Train-Deploy (RTD) model, General Assembly seamlessly manages all HR aspects on behalf of its clients. Boasting a track record of empowering over 100,000 graduates with relevant skills, their approach equips companies with the technical talent they need, promptly and efficiently. By adopting their RTD strategy, businesses are well-equipped to navigate their digital transformation journeys, both presently and in the future. General Assembly’s unique model fosters speed, cost-effectiveness, and optimal utilization of resources for their clientele.
With a committed emphasis on diversity, General Assembly’s talent pipeline offers a rich pool of passionate candidates eager to contribute to their client’s success. Their cultivated talent stays with them, attracted by the competitive remuneration, benefits, holiday pay, and sick leave they offer. Notably, they go beyond the norm by providing continuous coaching and guidance to their junior talent teams during their tenure with the company.
By leveraging the unique strengths of General Assembly — globally recognized as the top creator of new tech talent, and LHH — the second-largest recruitment firm in the U.S., General Assembly’s clients gain access to a comprehensive tech talent solution. This solution covers all bases, from sourcing potential candidates and ensuring their job readiness to facilitating smooth onboarding and fostering long-term retention.
Conclusion
There is no doubt that the quest for talent is competitive today, especially when everyone is using the same outdated recruiting strategies to acquire that talent. The good news is that there is a budding pool of junior talent out there that is eager to create the innovative solutions of tomorrow, and General Assembly can show you how to tap into it.
Click here to learn more about General Assembly’s Recruit-Train-Deploy model.
