As per the 21st century, there is no doubt that Data Scientists are one of the most seeked out professionals when companies want to hire. The hype for this field has exponentially increased ever since and with such a hype comes the issue of hiring.
But what are the problems that arise? Let’s explore them.
Reasons why it is harder than ever to hire a Data Scientist
Problem-1 Hiring the right Candidate
After posting a job opening for a Data Scientist role one will get sufficient applications, is what most hiring managers think. But that is not the case. Everyone wants to be a Data Scientist, and the word ‘everyone’ cannot be stressed enough!
This is not even an exaggeration. But from the lot, it is hard to filter through proper applications who are genuinely interested in working as a Data Scientist. Many applicants only apply because they are interested in the 6 figure salary, which shouldn’t be the only factor for someone to transition into a Data Scientist role.
Even though new job titles are emerging for very clearly defined roles such as Machine Learning Engineer, Computer Vision Specialist, NLP Scientist, companies need to be able to read beyond a job title and get a good understanding of a person’s CV to understand that there is a shortage of talent.
Problem-2 Shortage of Talent
The ‘hype’ about the Data Scientist role mentioned before, has led a lot of people to transition from all walks of life to Data Science in the last few years. Also many Data Analysts are going back to universities to fill the gap in their skills.
Many boot camps have emerged and there is an increase in people enrolling in online courses as well. However, this increase in supply is not close to the huge increase in demand.
The need for Data Scientists is not limited to the tech industry only, last year itself many companies from different domains like sports, education, law, medicine, NGO’s, etc. have hired Data Scientists. The list of industries and their demand for Data Scientists is never-ending.
An attraction of the role of a Data Scientist is the possibility to very clearly quantify the added benefit to any business and therefore becomes a contributing factor to the huge surge in demand.
Problem-3 High Industry Demand
As per basic economic factors, a high demand and low supply leads to an increase in the price for anything. Salaries for Data Scientists are still being defined largely. A 6 figure salary is common for many industries regardless of the fact if you are a fresher or a professional with 5+ years of experience.
Most of this issue stems from the 1st reason where many apply just to be a part of the hype. Genuine Data Scientists are likely to have a ton of offers presented to them when they are in the process of transitioning which leads to an improper distinction of the said salary.
Freelancers and contract based employees are also adding to this factor which makes it hard for companies to set a standard pay scale. Therefore, hiring becomes harder.
Problem-4 Not being able to stand out
This increase in demand and low supply also gives rise to the next problem which is about deciding the factors to attract and interview Data Scientists. Data Scientists get many messages on LinkedIn and various job portals each week.
This makes it harder and harder for companies to stand out from the crowd and hire the best candidates.
Even though interviewing prospective candidates is not a hard thing to do, companies have to make sure that they test someone’s skill set, are able to sell the role, opportunity and company, while having a quick process so that they don’t miss out on the best talent.
Many smaller companies need to make sure that they don’t drive away candidates with a gruelling interview process. Some companies even skip the take home assignments and directly have the technical rounds during the onsite interview itself.
Tips to consider while hiring
- Consider looking at the applications closely but reading beyond just the job titles.
- Make sure to research and set a proper benchmark for salaries for different roles. And do remember that the right people will want to work with you for the right reasons and not just the salary.
- Remember that an interview is a two way process where not only does the candidate need to impress you, but you have to impress the candidate and let them know why it is great to work with you.
- Try and simplify the interview process as much as possible in which the candidate does not require to commit and wait a lot.
PinThe field of Data Science is heading forward at an explosive pace and it is fascinating for many to be a part of it. Making sure to be ahead of the curve while helping both the company and the candidate benefit, is a smart way to go about it.
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