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Israel's tech sector face challenge from shortage of workers

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“Tech companies are struggling to find tech professionals, with many already finding (them) overseas.”

Axar.az reports citing Reuters.

The number of tech workers - who earn more than double the average wage - grew to 280,000 in 2017 from 240,000 in 2013 but represent only 8 percent of the workforce, down from nearly 10 percent in 2008.

This is surprising given that investment into high-tech has soared, with venture capital funding exceeding $5 billion in 2017 and closing in on $6.5 billion this year. The number of multinationals operating development centers in Israel jumped to nearly 350 in 2016 from around 50 in 2000.

The sector accounts for about 45 percent of Israel’s exports. But about 15,300 positions remain open.

To find workers, Israeli companies are opening development centers overseas, mainly in Ukraine but also in the United States, Russia and India. Several dozen firms have also taken advantage of a rapid process established by the government in 2018 to obtain special visas for foreign tech workers.

But in the long term more initiatives are needed to increase the pool of workers, Kandel told reporters. There is great potential among women, who represent only 23 percent of tech workers, as well the largely untapped Arab and ultra-Orthodox Jewish sectors.

Arabs account for only 3 percent of tech workers but this is expected to change soon as 18 percent of all computer science students today are Arab, similar to their share of the population.

Date
2018.12.16 / 14:16
Author
Axar.az
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