One of the biggest challenges for growing companies has been the availability of skilled talent. The industry requires specific skill sets such as software developers, analytics professionals and product and program managers to combat the unforeseen challenges the industry is expected to face. During the feasibility study for this report in the first two quarters of 2014, we managed to understand the core issues and the data/insight that companies really require.
- Where can I find Analytics, Machine learning and Big Data skills on the East Coast?
- Where can I find Product Management resources in abundance?
- How many developers are there in Ohio?
- We are going to expand our teams significantly. Which part of the country can we do that if we are Fraud specialist firm?
- Which location will be good for us between X, Y and Z from a talent supply perspective?
Why could this report be useful?
- Analyzes the talent pool across three key and in-demand skills in the payment industry – Product Management Professionals; Analytics Professionals; and Technologist/Software Developers.
- This report is aimed at proving city level talent pool insights to recruiters and companies in this space. Companies will find it useful for making strategic decisions related to growth, location, and expansion.
- Start-ups and firms looking to diversify into the payment space will also find it useful to understand the talent pool landscape in the US.
- This report can be used by recruitment agencies and head-hunting firms to look for relevant people in the right place and prioritize their efforts better, thereby reducing the total time of hire.
Some High-Level Findings of the Report
- There are more than 500 firms in various segments of Payment Industry like POS, Acquirers/Processors, and new entrants (Wallets, Fraud & Security, and others) that employ more than 1,80,000 employees.
- More than 95 percent of payment firms in the US are small and medium-sized firms (i.e., under 500 employees)
- According to our estimates, the payments industry will create more than 40,000 new opportunities in the next couple of years.
- For U.S. Payment Industry, San Francisco Bay Area and New York are already suffering from increasing talent crunch. But few of the promising regions are Atlanta and Texas that offer other advantages as well (such as cost of living, etc.)
- A large part of the US payment Industry workforce is confined to the West pacific region of US with California being the main centre of talent for Along with California, New York, and Texas have the largest talent pool in the payments Industry in the U.S.