Worldwide, technology is the fastest-growing sector of the global economy. In the face of that growth, the United States and Europe are experiencing a shortage in the talent required for these technology companies to grow. The labor market in information technology is getting tighter.
Our latest infographic, “Language Skills for the Tech Talent Toolkit”, delivers some data on how language learning can help technology firms be more competitive in recruiting, retaining talent, providing better service, and making themselves more attractive in the mergers and acquisitions market.
RECRUITING AND RETENTION
In a competitive talent market like IT, it can often be the benefits that set companies apart. In both recruiting and retention, prospects tend to opt for employers that will help them grow in their careers. In this international job market, that means language skills.
For example, our data shows that 59 percent of IT employees say they are more likely to stay at their current company if they offer language training.
It is well-known that keeping an employee is much cheaper than trying to hire a new one. Considering that fact, for IT companies it is well worth exploring language learning for your employees.
IMPROVED CUSTOMER SERVICE
With the shortage of IT talent in the US and Europe, firms often look overseas for new hires.
But hiring internationally can mean bringing language skills deficits into your company. Just like many other businesses, communication is crucial in IT. Our data shows language gaps lead to longer resolution times for customer support, less productivity, and more stress among teams.
Active companies in the mergers and acquisitions market are often shopping for talent. That is especially true in IT.
With consolidation among IT firms, integrating languages becomes crucial. Although English is still the international language of business, such streamlining cannot be assumed—especially considering 70 percent of the Global 1000 workforce is non-native English speakers.
As the global technology sector continues to evolve, it is becoming increasingly important to position companies to compete internationally. Whether that is in the labor market, efficiency, or in overall profitability, language skills can be an effective way to give your company a boost in the technology market.