CIOs see a shortage of qualified IT Pros according to Janco

With an unemployment rate of 4.0%, a shortage of qualified IT Pros begins to leave many unfilled positions

Park City – UT– e-janco.com – CIOs see a shortage of qualified IT Pros according to Janco - Demand is high for IT Pros  - Hiring is on a definite upswing for IT Pros but many IT jobs go unfilled due to lack of qualified candidates. Because of the shortage, Janco just revised its forecast for the IT Job market growth down for IT jobs to be created in 2018 from over 80,000 to 78,400.

IT Job Market will have shrunk by an average of 4,900 jobs in CY 2024

There are approximately 71K unemployed IT Professionals. The IT job market shrank by over 48,600 jobs in CY 2023. Overall that is a flattening of the long-term growth rate pattern of the IT job market. Based on our data and forecast models, there will be no growth in the IT Job Market in the calendar year 2024.

Data complied and forecast updated by Janco Associates with data as of October 2024

The CEO of Janco Associates, Inc., Mr. M. Victor Janulaitis said, “CIOs are finding it difficult to recruit qualified candidates. The impact of the rapidly recovering economy is pushing demand for IT professionals as more organizations are expanding IT infrastructure with new e-commerce and blockchain applications. CIOs have the green light to expand budgets and staffing but in many markets, they cannot find qualified individuals to fill all of the open positions." He added. "Overall regulations like the new California Privacy Law, GDPR for the EU, and cyber attacks are driving the demand for more individuals in security and information protection roles as development for mobile device applications which enhance security and processing of Internet-based transactions increases."

On a broader perspective, he said, “With 13,700 net new IT jobs in the last 3 months, we believe that many IT pros who have stayed with their companies through the last several years will begin to look for new and better opportunities. IT staff attrition rates will be a major concern for many CIOs and IT Managers.” 

Janulaitis added, "A good example of the increased demand for IT Pros is the demand for Information Security Analyst with as the new California Privacy Law and GDPR mandated compliance requirements expand. In our review of over 100 large and mid-sized organizations, we found that fully one-quarter are not yet compliant with GDPR." He added, "With the increased dependence on the Internet and cloud processing the exposure that enterprises face can only be mitigated by filling those roles with qualified individuals. As a result, salaries for experienced Information Security Analysts and the newly required position of Data Protection Officer (for GDPR) are sky-rocketing and are well over $100K." He added, “In our 2018 Mid Year IT Salary Survey we found that the median salary for all IT professionals is now $90,971.

Janco’s President announced, “To help address compliance management issues, we have just released a new compliance policy – Privacy Compliance Policy. A number of our clients are using this as a roadmap for privacy infrastructure changes. A major issue many face is the lack of qualified professions. This template provides guidance for IT professionals not familiar with these requirements. More information can be found at https://e-janco.com/privacycompliance.htm. ”

Read On  Order Privacy Policy  Download Selected Pages

Janulaitis said, "Most of the C-level executives Janco has interviewed are expecting the recovery to continue even with the impact of a trade war. They are planning for extensive growth and expansion. The only part of the IT job market that is not doing well is that of telecommunications sector which has lost over 30,000 jobs in the last 12 months."

Janco is an international consulting firm that follows issues that concern CIOs and CFOs. The firm publishes a series of IT and business Infrastructure HandiGuides® and Templates including IT Infrastructure Policies and Procedures, Disaster Recovery/Business Continuity Template, Security Template, IT Job Descriptions, and its semi-annual IT Salary Survey.