Only 17% of those surveyed say their company is currently diversifying its talent pipeline by hiring individuals without a formal college degree
NEW YORK and NOIDA, India, September 21, 2023 — A new survey from HCLTech, a leading global technology company, in collaboration with MIT Technology Review Insights, found that only 17% of global tech leaders surveyed say their organization currently recruits candidates who do not have a formal college degree. The poll also highlights the importance of apprenticeship programs, building new approaches to talent shortages and investing in the next generation of workforce.
The poll highlights three key takeaways:
- In the face of ongoing staffing shortages, finding and retaining IT and tech talent is a great challenge—and a competitive opportunity.
- Targeting early-career candidates, including those who have not yet completed their formal college education, helps employers identify new talent while chalking out new career paths.
- 32% of those surveyed are leveraging formal apprenticeships to recruit or train entry-level employees.
“By targeting candidates earlier at the start of their career, including those yet to complete their college education, we identify new talent and create fresh career paths,” says Laurel Ruma, Global Director at MIT Technology Review. “Technology apprenticeships and educational partnerships are increasingly common, offering improved skill matches, higher retention rates and diversity in the workforce. These initiatives are our competitive edge in securing the future of our industry.”
HCLTech is an early adopter of alternate recruitment programs and has led the industry in recruiting entry-level talent from high schools and colleges. HCLTech’s apprenticeship program in India, called TechBee, is an innovative program that helps budding talented students who are looking for full-time careers in tech after high school. To further develop their global workforce, HCLTech extended its apprenticeship program to Sri Lanka, Australia, New Zealand, the Americas and Canada. HCLTech’s recruitment efforts extend to nontraditional candidates, including those from underrepresented backgrounds, to build a more dynamic workforce with a broader collection of ideas and increased innovation.
“Investing in talent as early as high school not only builds entry-level talent but also nurtures future leaders who can drive long-term innovation and value for customers,” said Jagadeshwar Gattu, the President of Digital Foundation Services at HCLTech. “HCLTech recognizes how a younger workforce with better training can benefit the entire sector and the advantages apprenticeships and graduate hiring programs offer to invest in the future workforce through education and upskilling”.
“Considering the rapid pace of technological innovation, engineering and STEM-oriented schools will benefit from partnering with tech companies to equip new graduates for tomorrow’s technology. It is also vital for tech companies to train young students and make them industry-ready,” says Subbaraman Balasubramanyan, Senior Vice President of Strategic Initiatives, HCLTech.
Click here to read the full MIT Technology Review Insights and HCLTech report.
About HCLTech
HCLTech is a global technology company, home to more than 223,000 people across 60 countries, delivering industry-leading capabilities centered around digital, engineering, cloud and AI, powered by a broad portfolio of technology services and products. We work with clients across all major verticals, providing industry solutions for Financial Services, Manufacturing, Life Sciences and Healthcare, Technology and Services, Telecom and Media, Retail and CPG, and Public Services. Consolidated revenues as of 12 months ending June 2023 totaled $12.8 billion. To learn how we can supercharge progress for you, visit hcltech.com.
For further details, please contact:
Michelle Rico, Americas
michelle.rico@hcl.com
Elka Ghudial, EMEA
elka.ghudial@hcl.com
James Galvin, ANZ
james.galvin@hcl.com
Siddhartha Bhatnagar, India
bhatnagars@hcl.com