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Technology, Business Optimism Climbs, CompTIA Reports

All jobs require technology, I believe. From construction workers to house cleaners to the sanitation workers, everyone needs to use some type of technology to get their job done. Since all businesses need technology to function, they usually also need IT support at some point. This is why jobs in IT are so plentiful and in demand. The current unemployment rate for IT occupations is hovering around two percent and demand for tech workers are consistently growing across every industry.

Report Shows IT Industry Is Still Growing

Tech industry association CompTIA released its latest analysis of industry sentiment on the state of business and the numbers are generally positive, as would be expected given the realities mentioned. In a survey of 314 U.S. tech companies, reports show that the Q3 index increased by 3.2 points to 67.4 on a 100-point scale. It’s the first time in the history of the index – which dates back to 2009 – that Q3 business confidence exceeded Q2 levels.

All three components of the index showed positive movement in Q3. Executives’ confidence in the U.S. economy stands at 62.4, up from 60 last quarter. Confidence in the IT industry rose to 70.6, up from 66.7. Self-assessment of their own company increased to 69.1 from 65.9 in Q2.

Concerns About IT Growth

The report isn’t entirely positive, however, as within the report there are also some concerns executives have expressed. Many still worry that business owners will continue to see investments in technology as a burden to their business, instead of a tool that can help increase productivity. When business owners don’t see the benefits of newer technology, it can limit the budget they are willing to use for that purpose. Without the budget for IT projects and services, the growth of IT providers could be limited.

The other major concern listed inside the report is the lack of employees available to do the job. Since unemployment in the industry is so low, there are a shortage qualified techs. This can be a serious threat to growth since a company would only be able to take on a specific number of clients before they would need to hire another technician.

Some companies are overcoming this threat by re-thinking their strategies for recruiting technology workers, according to the May 2017 CompTIA report “Assessing the IT Skills Gap.” These strategies include finding better ways to provide on-the-job experience and training, such as apprenticeships and internships; using professional certifications and credentials to validate skills and knowledge; and developing better methods to evaluate the skills of job candidates.

The change in hiring strategy could really pay off for companies as they learn how to better train technicians on the job. This could be made even easier in the future, through the use of AR technology. Getting more techs up to speed quickly will be essential for continued growth.

The complete report is available at CompTIA Insight & Tools.

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