Closing the IT Skills Gap

THE Intersect GROUP We've combined our client learnings and industry statistics to create this infographic to highlight the positive effects of closing the IT Skills Gap by increasing the supply of qualified U.S. resources. INCREASING QUALIFIED U.S. RESOURCES TO CLOSE THE NATIONAL IT SKILLS GAP Economists estimate That would cut that as many as 10%-30% our unemployment rate by of the jobs lost to offshoring could return. AT LEAST It would add 20-60 BILLION in GDP per year 50% WHICH CAN LEAD TO: and amount to 8 MILLION JOBS. LOWER A STRONGER RISING BOND PRICES DOLLAR STOCKS 43 percent of IT services companies have said they outsource labor to foreign countries. GM'S NEW DIRECTION GE GE COMMITTED $1 BILLION 90% 0.90% TO CREATE 1,300 NEW JOBS IN THE U.S. BY 2014 OUTSOURCED INSOURCED IN 2013 IN 2016 Michigan continues to benefit from GE's focus on renewing and strengthening the United States' global competitiveness. OFFSHORING AS A LONG TERM COST-SAVER IS FAILING 17-53 % of companies don't realize an ROI from their offshoring Increased summer internship programs by 1,600 25% HIGH-LEVEL IT SUPPORT IN CERTAIN PARTS OF THE U.S. IS CHEAPER THAN for engineering, IT, finance & supply chain operations IN BRAZIL OR EASTERN EUROPE IT & Research Jobs Since 2009 AND ONLY 24% MORE THAN IN INDIA. %$. Average wage for computer and mathematical jobs: $76,270 Advantages of Reshoring: 1. Contractual Flexibility 2. Service Delivery Efficiencies By reshoring these jobs, we are creating an opportunity for economic stimulation. 3. Highly Skilled, Retained Leaders & Staff SOURCES: Mad Hedge Fund Trader, New York Post, Statistic Brain, Forbes, Bureau of Labor Statistics, Knowledge@Wharton, The Economist, CIO Magazine