Future of work: Consumer Technology Association 2019 Annual Survey
Consumer Technology Association, September 12, 2019
The 2019 Future of Work report is based on a survey conducted by the Consumer Technology Association (CTA), an Arlington, VA-based trade association representing the U.S. consumer technology industry. Based on responses from 252 business leaders among its membership, the results reveal that "tech companies, both large and small, need to adapt to challenges in finding and retaining qualified people over the next five years."
CTA is a strategic alliance partner of Grant Thornton LLP
Grant Thornton’s View
National Managing Partner,
Markets, Clients & Industry
The CTA’s Future of Work
report reflects the people and culture challenges faced by the technology industry, but their challenges are universal: From banks to manufacturers, life sciences to transportation, industries across the board must find the right strategy for success in a tight labor market, where the rapid pace of technology innovation is shifting the way work gets done. Competition for talent is intense; 80% of Future of Work survey respondents say finding qualified employees is difficult today, and 50% believe it will only be more difficult over the next five years.
The right mix of compensation, benefits, and professional growth opportunities contributes to success, especially when based on knowledge of the market and competitive environment; strategic selection of recruiting channels, and a strong referral program. But to a growing degree, culture is a determining factor in attracting and retaining talent. Companies that show a commitment to shared values, workforce diversity, and meaningful community involvement are often the preferred employer. Now is the time for companies regardless of industry to take a close look at their culture, including their level of employee engagement, so they can understand and respond to employees’ unique needs and stay competitive for highly sought after talent. When we listen to our employees, they will tell us what we need to know!