If the tech giant doesn’t invest now, it could lose a major toehold in the market.
Between Web3, NFTs, the blockchain and the metaverse, tech companies have a lot of work to do to bring the next generation of technology into the fold.
Now Google is stepping up with a new training push.
It has created a program is available to anyone and no college degree is required, Google said. The company says 75% of graduates report seeing a positive impact on their career within six months.
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Filling tech job openings has become more challenging as a high barrier to entry has led to increased pay and other incentives to attract talent.
U.S. tech salaries rose to a record high of $104,566 in 2021, according to a recently released Tech Salary Report which surveyed more than 7,200 tech professionals between Aug. 10 and Oct. 10, 2021.Web developers saw the biggest increase at more than 21% to $98,912.
And while Silicon Valley is still the leading tech hub of the country with tech jobs on average paying $133,204 annually, cities like Seattle, New York City, Boston and San Diego are seeing an influx of people looking for increasingly lucrative tech work.
The U.S. job market has been hot in recent quarters as the country emerges from the Covid-19 pandemic.
The country added 709,000 more jobs in November and December than previously estimated and non-farm payrolls increased 467,000 in January.
Alphabet’s $100 Million Training Push
To staff high-paying but tough-to-land jobs tech jobs, Alphabet is putting up $100 million.
According to a recent BSA Foundation report, nearly one in 10 American jobs are in the software industry.
And unlike many of the other jobs in the top 10, tech jobs generally require advanced degrees and are harder to fill.
To make sure Google doesn’t have any trouble finding the talent it will need in the near future, CEO Sundar Pichai announced a new $100 million Google Career Certificates Fund.
Google says that 70,000 Americans have now completed its certificate program, which prepares people for “high-paying, high-growth jobs in fields like data analytics, IT support, project management and user experience design.”
“The goal is to enable Social Finance to reach more than 20,000 American workers. This investment in America’s future has the potential to drive $1 billion in wage gains,” Pichai said.
“It’s another promising example of how the entire ecosystem — from private companies to nonprofits — can work together to help more Americans access economic opportunities,” Pichai said. “I’m excited to see all the ways this could be transformative for people, their families and their communities.”
Google said the investment is expected to help 20,000 more Americans receive the training they need for careers in tech.
Tech Companies Fight Over Talent
The pandemic has been a blessing in disguise for tech in more than one way.
Most apparently, the pandemic has accelerated the move from analog to digital, as more Americans than ever work remotely.
A recent report by the Conference Board showed that over four in 10 listings for higher educated white-collar jobs at tech companies are based outside of California, Oregon and Washington.
States like Texas, Virginia and New York are increasing in popularity for tech work with Austin, Texas, particularly popular for new tech work.
The percentage of job postings outside of the West Coast jumped from 30% at the start of 2019 to 43% at the start of 2022, according to the report.
Google wants to make sure that it won’t have a problem filling these jobs of the future by investing $100 million in training. That could be the leg up it needs as the race to hire qualified individuals heats up in the coming months and years.
