Why developing technological talent is crucial for the future of businesses

Technology has become a key factor for innovation, productivity, and differentiation of organizations, but also a challenge in finding and retaining the right talent to drive digital transformation.

Developing technological talent is crucial for the future of businesses, as it allows them to gain a competitive advantage and adapt to market changes. Companies that invest in developing their technological talent will be able to improve their performance, innovation, and employee satisfaction.

But what is the current state of tech talent in Spain? According to data from the INE (National Institute of Statistics) , in 2021 there were 72,444 ICT companies, with a turnover of €110.223 billion and an added value of €40.049 billion. The number of people employed in this sector was 564,137, representing a 2% increase compared to the previous year.

However, these figures do not reflect the reality of the job market, as there is a significant shortage of qualified professionals in certain technology fields. According to a Randstad study, 83% of Spanish companies are having difficulty filling their ICT vacancies. The most in-demand areas are those related to web development, data analysis, cybersecurity, and artificial intelligence.

This situation is due to several factors, including a lack of specific training, skills obsolescence, the gender gap, and international competition. According to the Cotec Foundation report, only 3.8% of employed people in Spain are ICT specialists, compared to the European average of 4.8%. Furthermore, only 20% of these specialists are women, highlighting significant gender inequality in the sector. Moreover, 25% of Spanish companies that hired or tried to hire ICT specialists in 2022 had difficulty finding suitable candidates, representing a 6% increase compared to 2021.

These data highlight the urgent need to train and develop more professionals in the technology sector, both to meet existing demand and to create new employment and development opportunities. Developing technological talent not only benefits businesses but also society as a whole, contributing to economic growth, social well-being, and environmental sustainability.

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Therefore, it is essential that businesses, educational institutions, public bodies, and social stakeholders collaborate to create an ecosystem conducive to the development of technological talent. Some of the measures that could be adopted are:

• To encourage interest in STEM (science, technology, engineering and mathematics) careers from an early age, especially among girls and young women.



• To offer training adapted to the needs of the labor market, with a greater practical orientation and constant updating of content.



• Facilitate access to continuing education and professional retraining ( Upskilling and Reskilling ), through flexible and personalized programs that allow learning to be combined with work.



• Promote geographic mobility and internationalization of technological talent, taking advantage of the opportunities offered by the global market.



• Recognize and value technological talent through fair and transparent certification, accreditation and compensation systems.

Companies should invest in innovative training alternatives, such as bootcamps, workshops, or programs designed for their specific needs ( in-company programs ). For example, bootcamps are intensive training programs in a short period of time that allow participants to acquire or update knowledge and skills in specific technological areas. These programs are a very attractive option for people who want to enter the job market quickly or change careers, as well as for companies that need qualified and adaptable technological talent.

Developing technological talent is an investment in the future for businesses and society. Only in this way can we face the challenges of the digital age and take advantage of its benefits. This is one of the pillars of Brain and Code: helping to close the existing technological gap and supporting organizations in their growth.

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