Organizations are finding that hiring qualified Data Scientist is a real challenge. Experienced Data Scientists are expensive and are usually employed elsewhere. This high demand, low supply economics is leading to a situation of the ‘haves’ versus the ‘have-nots’, where the larger, financially rich organizations in the ‘sexy’ industries are most capable of attracting and hiring data scientists, while the lesser companies will have to make do without one.
Organizations are looking at new approaches to finding data scientists. Some are able to attract them with more than money like autonomy and development opportunities. Others are training current staff to become more data literate through professional development programs. Once trained, these individuals typically must work 12 to 24 months at the organization or have to pay back the amount spent on their training.
There is another approach that should be considered.