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Demand-supply mismatch in tech talent

Demand-supply mismatch in tech talent

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Yellow.ai chief human resources officer Neeru Mehta in responding to queries from StarBiz said there still exists a gap between the demand and supply of skilled tech talent available in the market.

PETALING JAYA: Despite an unprecedented pace of growth and adoption of technology hastened by Covid-19, there is a gap between the demand and supply of skilled tech talent available in Asia, including Malaysia, according to one of the leading global US-based enterprise-grade conversational artificial intelligence (AI) companies.

Yellow.ai chief human resources officer Neeru Mehta in responding to queries from StarBiz said there still exists a gap between the demand and supply of skilled tech talent available in the market.

The company is headquartered in the United States and has offices across Singapore, Malaysia, India, the United Arab Emirates and Indonesia.

While Asia is rapidly transforming with emerging technologies such as 5G, cloud computing, big data, AI, and the Internet of Things, there is a dearth of talent which would enable the region to make the most of the opportunity, she said.

“Numerous organisations face hiring challenges due to the mismatch between their digital growth ambitions and the shortage of qualified talent to fulfil those goals.

“For Malaysia, another reason behind the tech talent shortage is high talent mobility, with skilled professionals choosing to migrate overseas for better opportunities and higher compensation packages,” she said.

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According to Mercer’s 2022 Global Talent Trends Study, talent attraction and retention are top of the mind for Asia’s executives, with seven in 10 executives stating that they face a labour shortage crisis.

When it comes to wooing the small pool of skilled tech talent in the market, Neeru said it is crucial that companies bring their “A-game” to the table, especially with the great resignation already happening in Malaysia.

Recruitment agency, Randstad Malaysia, recently acknowledged that the “great resignation” is already happening in Malaysia. Based on the Randstad Workmonitor survey, the percentage of respondents that have switched employers has increased seven-point, from 29% in March 2021 to 36% in September 2021.

“Businesses today, small or large, need to rethink their employee experience strategies from the employee’s point of view. Especially in the last three years – wellness and an overall holistic approach to personal and professional development are strong driving factors for employees.

“At Yellow.ai, we are championing a strategy that encompasses emotional, mental, financial, and physical wellness, establishing a strong people-first culture across the globe.

“Moreover, companies need to focus on reskilling, upskilling, and cross-skilling their employees and strategically invest in learning and development initiatives in line with their business goals. Creating an employee experience where even virtually, a team member can truly feel a sense of belonging is also crucial,” Neeru added.

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