IT-sector under pandemic conditions: challenges and the ways to overcome them

Abstract

Theoretical and methodological investigations of the COVID-19 pandemic impact on the IT sector activities are carried out. It is noted that IT sector has shown great flexibility and speed in adapting to changes and has not lost its strong position. Two factors that influence IT sector development are human capital and public policy. It is demonstrated how quarantine restrictions have effected IT sector in the global and national economies, and the consequences of those restrictions at the present stage are analyzed. Challenges and risks caused by the situation with Coronavirus for future activities of IT companies are investigated, and ways to overcome the crisis in the near future are proposed. The authors investigated the status of the daily operations of companies that have switched to remote work and noted that without digital solutions brought by the IT sector it is impossible to ensure not only the livelihood of people but also normal work in many sectors of the economy. The companies transition to new operation forms is analyzed, the advantages and disadvantages of remote work according to the respondents’ opinion are shown. It is also shown that in order to implement the remote work successfully it is necessary to involve greater mobilization and faster decision-making process. In comparison with other economy sectors, the IT sector is more resilient to the strict quarantine measures due to the possibility of remote operation. IT companies began to diversify their projects. The development of IT sector and the successful operation of IT companies depend on the qualifications of IT professionals, their skills, and their desire to work effectively. It is noted that during such difficult times especially, the dialogue between the state and business should be at the highest level in order to manage the situation with minimal losses. It is substantiated that it is necessary to take into account the strategy of the Ukrainian IT sector development: reduction of the disparity in the demand and supply of highly qualified specialists, remote employment, stopping possible loss of professionals due to immigration. In addition, companies themselves need a special policy to attract and retain people, especially highly qualified and talented professionals, in order to occupy the leading positions in the market.