Achieving CIOs’ top investment priorities requires filling the tech skills gap

C-suites expect big things from IT in 2024, and they’re investing additional money to realize their technological goals. In the Foundry “State of the CIO Study 2024,” more than half (54%) of the surveyed CIOs said their budget would grow this year and only 11% said they would shrink. CIOs believe that the top three tech initiatives driving these increased IT investments will be security and risk management (45%), artificial intelligence (AI) and machine learning (44%), and business process and IT automation (44%).

Despite these additional financial resources, CIOs will face significant challenges in achieving their goals, due to a lack of people with the required skills. The Foundry study found that the most sought-after skill sets are cybersecurity (42%), AI and machine learning (39%), and data science and analytics (32%).

According to a 2024 report, “Building Future-Forward Tech Teams,” from global talent solutions and business consulting firm Robert Half, these skill sets are the most difficult for which to recruit talent, with AI and machine learning (ML) ranking first, followed by cybersecurity and data science.

However, in the report, Robert Half also suggests strategies for filling these gaps. When recruiting, organizations should focus on identifying high-potential professionals who are eager and ready to learn, rather than searching for candidates who meet all the skill requirements. Flag candidates who ask insightful questions during interviews or who have previously taken the initiative to earn in-demand certifications.

In the short term, organizations will need to find ways to fill these skill gaps immediately, especially given how rapidly boards of directors expect IT to roll out AI capabilities. A scalable talent model that leverages a mix of contractors and internal employees gives IT organizations the flexibility to obtain the specialized skills they need for urgent projects while also developing those skills long-term through hiring or internal training. Taking this approach can also be a good way to identify and recruit people to join the team permanently. According to Robert Half, 75% of small and midsize companies and 69% of enterprises are adding contract employees to their teams.

Finally, create a continuous cycle of learning that fosters innovation. There are several ways to do this, such as:

• Offering job rotation programs that enable employees to discover different career paths within the organization
• Encouraging participation in hackathons
• Bringing in external trainers to hold workshops on new technologies
• Giving IT professionals access to platforms and data sets for experimenting and learning within a sandbox environment when it comes to AI

Although the IT skills gap is large and challenging to fill, organizations can address it by employing the right strategies and partnering with the right organizations. Even better, they can do so while also laying the foundation for a workforce that skills up as technologies advance. For more than 75 years, Robert Half has worked with companies of all sizes to help them solve their talent challenges. The firm provides contract talent, permanent talent, and executive search services that enable companies to secure the skills they need in order to achieve their goals.

Partner with Robert Half today.