IT compensation expert David Foote warns that outdated HR models threaten to destroy companies as they try to implement emerging IT concepts.
The warning stirs distant memories of the recessionary year 2008 and the Dotcom bust a few years earlier. So many companies, from startups to one-time Blue Chips, laid off thousands of workers or simply disappeared through bankruptcy or acquisition. Their IT teams, entrenched in dated technologies, went from unemployed to unemployable.
These weren’t layoffs of 10 people but 10,000 at a time. Picture 10,000 people, sort of like a small town, with everyone out of work. Could something similar happen in the near future? David Foote says that is a real possibility, but that there is an opportunity for companies and IT professionals to change their paths.
Foote, founder of IT workforce and compensation research firm Foote Partners, issued an analysis of the company’s Q4 2017 compensation data. On the positive side, the market value for more than 400 IT certifications rose for the first time in four quarters, growing by 0.3%, so that the average certification now represents a 7.6% premium on an IT pro’s base salary. Also on the positive side — for employees and the employers who have to recruit them — Foote says the market volatility that we have seen for many IT skills is calming down a bit.
More of the InformationWeek article from James M. Connolly
