The IT staffing shortage has been a persistent challenge. For years, businesses have faced difficulties due to skill mismatches, a declining number of tech graduates, and an aging workforce—making it harder to find qualified talent.

What’s new is how business leaders are now quantifying the financial impact of this shortage.
 

According to a 2024 IDC survey:

* 62% of IT executives reported falling short of revenue targets

* 61% faced product delays

* 57% suffered direct revenue losses
 

Looking ahead, the forecast is even more concerning. IDC estimates that by 2026, the global cost of the IT skills gap could reach $5.5 trillion.

This growing crisis underscores the urgent need for strategic workforce planning and investment in skill development.

Read More - How To Expand Your Tech Talent Pool During The IT Staffing Shortage