Latest news with #techTalent
Yahoo
6 hours ago
- Business
- Yahoo
Key VP Exits Amazon.com, Inc. (AMZN) As Tech Talent Competition Intensifies
Inc. (NASDAQ:AMZN) is among the 13 Best Big Name Stocks to Buy Now. According to reports, the company has lost a key AWS vice president, as competition for tech talent heats up. An executive in a suit walking across the lobby of a modern commercial bank. Vasi Philomin, who oversaw the development of generative AI and product strategy, told Reuters in an email he had left the job to join another company. An Inc. (NASDAQ:AMZN) spokesperson confirmed Philomin's exit, after eight years of service. Philomin had helped create and lead the company's Bedrock service, a vital product for AWS's battle for AI supremacy, that served as a hub for using multiple AI models. He was also a frequent speaker at AWS events. Companies across the tech industry are deploying unique and creative techniques to hire top AI talent, including sports industry data analysis, Reuters reported last month, which has resulted in compensation skyrocketing for these professionals. Inc. (NASDAQ:AMZN) says Rajesh Sheth, a vice president who previously oversaw Amazon Elastic Block Store, had assumed some of Philomin's responsibilities. The spokesperson added that the company also has other vice presidents who work on AWS' generative AI projects. While we acknowledge the potential of AMZN as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: and . Disclosure: None.
Yahoo
4 days ago
- Business
- Yahoo
The Middlemen Gaming the US Work Visa Lottery
For decades, foreign staffing and outsourcing firms have taken advantage of loopholes in a US visa program meant to bring in high-skilled workers to make up for a lack of domestic tech talent. Amid a US immigration crackdown the Trump administration contends is based in part on protecting American jobs, here's how middlemen keep gaming the visa system at the expense of US workers and many others.
Bloomberg
4 days ago
- Business
- Bloomberg
The Middlemen Gaming the US Work Visa Lottery
For decades, foreign staffing and outsourcing firms have taken advantage of loopholes in a US visa program meant to bring in high-skilled workers to make up for a lack of domestic tech talent. Amid a US immigration crackdown the Trump administration contends is based in part on protecting American jobs, here's how middlemen keep gaming the visa system at the expense of US workers and many others. (Source: Bloomberg)
Entrepreneur
6 days ago
- Business
- Entrepreneur
Why Vietnam Is the Hidden Success Factor for Scaling Global Startups
When I couldn't find the tech talent we needed to grow, turning to Vietnam didn't just solve the problem — it changed the way we scale our company. Opinions expressed by Entrepreneur contributors are their own. When I founded my company, I quickly learned that scaling a business globally isn't just about expanding markets — it's about expanding talent. As the Founder & CEO of DigiEx Group, I faced a harsh reality early on: the competition for skilled tech talent was (and still is) fierce everywhere. We'd be interviewing local candidates for months to fill crucial roles, only to see offers scooped by bigger firms. I realized that if we wanted to keep innovating and growing, we needed to look beyond our home turf for talent. This is how Vietnam entered the picture for us, and why I believe building a Vietnamese tech talent hub can be a game-changer for entrepreneurs scaling globally. Related: Exploring Vietnam's Economic Path: A Guide for Investors The global tech talent crunch and looking beyond borders The shortage of tech talent is a global concern, not just a local one. In fact, only 16% of executives feel comfortable with the amount of technology talent they have to drive their digital goals. A majority say that the scarcity of tech skills is a major roadblock to growth. I felt this pain firsthand. In the fast-paced tech world, having unfilled developer or data scientist positions can stall a product launch or derail a new initiative. The good news is that today's entrepreneurs aren't limited to hiring in their own backyard. Remote work and global collaboration are now mainstream. It's no longer unusual for a startup in New York or London to have engineers in places like Hanoi or Ho Chi Minh City. In my case, I realized that to overcome our talent crunch, we could tap into skilled professionals overseas. By thinking globally in our hiring, we weren't just filling positions — we were unlocking new perspectives and around-the-clock productivity. This strategy of going where the talent is became a pivotal move for us to scale effectively. Vietnam's emergence as a tech talent hub I'll admit, years ago, Vietnam was not the first place that came to my mind for high-tech talent. But experience is a great teacher. On my first visit to Vietnam, I was struck by the vibrant tech community and the sheer number of young, hungry engineers. Over 50% of Vietnam's population is under 35, and the country now produces 50,000+ IT graduates every year. In fact, Vietnam's booming tech scene is estimated to demand about 500,000 tech workers by 2025. A strong emphasis on STEM education and a cultural enthusiasm for technology and innovation powers this youthful, growing talent pool. The world is taking notice. According to recent hiring data, there was a 111% increase in international hiring of high-skilled Vietnamese talent in 2024, especially in tech roles. Key markets with tech talent shortages, like the United States, the UK and Singapore, are among the top employers of Vietnamese professionals. I've seen this trend in action through our own work connecting businesses with Vietnamese developers. These engineers aren't just abundant; they are highly skilled and globally competitive, often with experience working for international companies. Another advantage that became clear to me is affordability without compromise. Operating in Vietnam offers cost efficiencies (salaries and operating costs can be considerably lower than in Western hubs) while still delivering quality. And importantly, language has not been a barrier in our experience. Many Vietnamese tech professionals speak English and are comfortable with Western work culture, making collaboration smoother than one might expect. Combine that with a time zone that lets a Vietnam team overlap with both Asian and European work hours, and we found we could integrate a Vietnamese development team into our global operations almost seamlessly. Related: Why U.S. Businesses Are Turning to Global Talent More Than Ever Lessons learned building a Vietnam talent hub Establishing a tech talent hub in Vietnam hasn't been without its lessons. Looking back, there are a few insights I've gained that might help other entrepreneurs aiming to leverage emerging talent markets: Bridge the culture and communication gap. Business culture in Vietnam has its own nuances. Initially, I noticed team members were hesitant to voice disagreements or report delays out of cultural respect. To address this, we actively fostered an open communication culture — I shared stories of my own missteps and encouraged questions and feedback from everyone. Invest in your remote team's integration. It's easy to treat an overseas team as an outsourcing unit, but we took a different approach. We made our Vietnam engineers an integral part of the company. That meant flying out regularly (or hopping on overnight video calls), aligning them with our core values, and even mixing teams for projects so that "us" and "them" disappeared. Leverage local leadership and partnerships. One smart move we made was hiring a local operations lead in Vietnam who understood the local talent market and workplace norms. This helped tremendously in reducing turnover and keeping our team motivated. Additionally, partnerships with local tech organizations and universities have been invaluable for pipeline and training. Focus on growth and learning. One thing I love about Vietnamese tech talent is their hunger to learn. To keep our team at the cutting edge, we supported continuous learning — from sponsoring courses in new programming languages to hosting hackathons. Throughout this journey, I also learned to navigate challenges like time zone differences (pro tip: establish a few hours of daily overlap time for real-time discussions) and the mechanics of international hiring and compliance. Fortunately, with the rise of global HR platforms, hiring talent in Vietnam (or anywhere) has become more straightforward than it was a decade ago. Related: Why Investors Should Look at Vietnam's Renewable Energy Industry Vietnam's growing role in global growth strategies Tapping into Vietnam's tech talent has fundamentally shaped how we scale our business. It started as a tactical solution to a talent shortage, but it has evolved into a strategic pillar of our growth. Beyond just cost savings or quick hiring, we've gained a foothold in a vibrant market that's full of ideas and energy. From my perspective, Vietnam's emergence is also a sign of a bigger shift. Talent is everywhere, if we're willing to look. Today, it might be Vietnam; tomorrow, it could be other fast-developing tech hubs in Southeast Asia, Africa or Latin America. The key for any leader is to build the capability to integrate global teams and nurture that talent effectively. It's about being open to the idea that the next great engineer or product manager who propels your company forward might live 8,000 miles away and yet log in to your daily stand-up meeting. As an entrepreneur, embracing a Vietnamese tech talent hub has not only solved our hiring woes but also made our company more resilient and diverse in thought. Vietnam has shown me that innovation isn't confined to Silicon Valley or Bangalore — it can flourish wherever there are bright minds and opportunities. My advice to fellow founders and CEOs looking to scale globally is simple: don't overlook emerging talent pools. By building bridges to places like Vietnam, you're not just filling jobs; you're injecting fresh perspective and drive into your organization. In my experience, the businesses that win in the long run are those that recognize great talent knows no borders and act on that insight. And if you do, you might find, as I did, a wellspring of innovation and growth where you once least expected it.
Entrepreneur
6 days ago
- Business
- Entrepreneur
Why a new tech skills drive is sorely needed for the UK's tech startup ecosystem
Opinions expressed by Entrepreneur contributors are their own. You're reading Entrepreneur United Kingdom, an international franchise of Entrepreneur Media. It promises that 'pupils across the country will be given the skills and tools needed to get the AI-powered jobs of the future'. This is a much-needed initiative that will benefit individuals, businesses and the UK economy. Digital skills gap The 'digital skills gap' is costing the UK around £63bn annually. This is the mismatch between the digital capabilities employers need and the skills available in the workforce. With growing demand for tech talent, especially in areas like AI, data science, and cybersecurity, the supply of qualified candidates has not kept pace. 75% of tech firms are struggling to recruit, and of course it's not just tech companies that need tech skills! Tech talent and growth The digital skills gap isn't just a recruitment issue - it's a growth inhibitor. When one in three UK tech founders cite talent shortages as their biggest challenge, it reveals a systemic drag on innovation, product development, and market expansion. While the AI sector races ahead, startups without access to skilled talent risk being left behind, especially those based outside London. Closing the skills gap means more than filling vacancies; it's about unlocking capacity, speeding up time to market, and enabling the next wave of high growth-potential companies to scale with confidence. Access to tech skills The TechFirst programme should be of particular interest to startups. Startups often can't compete with big tech salaries. So, a steady stream of skilled young talent will reduce recruitment and training costs and will help startups grow sustainably. Young people are looking for purpose-driven roles, where they can quickly see the impact of the work they do. Many startups provide this environment, often with the opportunity to contribute to different areas and develop a broad skill set. The reality of tech roles Most people who work in tech do not write code. This fact seems to be a tightly kept secret to everyone outside the tech sector. Initiatives aimed at getting more people to consider a career in tech are often focused on coding – such as coding clubs and boot camps. There is very little emphasis on the wide range of roles that require curiosity, collaboration and creativity, and absolutely zero coding ability. Hopefully the TechFirst programme will consider the full range of tech roles, and the skills needed to be successful in them. Startups need team players, people who are flexible and adaptable and can learn new skills as their role and the organisation evolves. Routes into tech Only about 10% of the UK workforce has a computer science or IT related degree (Data from BCS and Coding Black Females). This typically comes as a surprise to students, teachers and careers advisors who believe this is the main route into tech. Tech professionals have a variety of educational backgrounds, including STEM, humanities and arts degrees, and many have followed non-university paths into tech, including apprenticeships and entry level roles. Digital apprenticeships Start-ups often struggle to make the 12- or 18-month commitment required to take on a digital apprentice. This is a missed opportunity, for the startup and the apprentice. Apprenticeships are a budget-friendly way to scale. Government funding and incentives help cover training costs, and selecting the right person and the right apprenticeship programme can benefit the whole organisation. The tech sector gets less diverse as we look at more senior positions in the hierarchies. By creating opportunities for early-career professionals, such as apprenticeships and other types of entry role, it is much easier to start to turn the dial on diversity. A diverse workforce can be a strategic asset for startups. Diverse teams are far more likely to make better decisions, and Innovate UK found that 73% of startups believe that diversity improves innovation. According to Shaw Trust, companies with above-average diversity generate 45% of their revenue from innovation, compared to just 26% for those with below-average diversity. That's a huge edge for startups trying to disrupt markets. What will 'AI skills' look like in 5 years? Given the rapid evolution and advancement of generative and agentic AI, it is very difficult to predict exactly what skills humans will need to work with and develop AI tools. One thing is clear: that a growth mindset and a commitment to life-long learning is what keeps tech professionals in jobs. Fostering this approach in the next generation of tech professionals is absolutely vital, because while tools and 'tech skills' may change, the ability to learn, adapt and grow will always be the most future-proofed skill we can pass on.
