Demand for tech talent has been growing rapidly in recent years as new technologies have emerged.
Covid-19 has had many unforeseen impacts on the economy and society, and one of those is accelerating the rate at which other industries are adopting these new technologies. In an effort to avoid future disruption and recoup profits lost during the pandemic, many sectors have begun to undergo digital transformations, with companies implementing automation, machine learning and AI.
The number of students graduating from Computer Sciences hasn’t kept up with the demand, resulting in a skills gap crisis that has even been dubbed a ‘war’ by major publications like Forbes. However, more than just driving up salaries, the skills gap has real implications for the sector and society in general.
In a survey of tech executives last month, concerns over labor shortages outranked fears of cyber security breaches. A lack of experienced staff will slow down a company’s ability to innovate and grow. Business Analyst, Gartner, has highlighted that talent shortage is the biggest barrier to the adoption of 64% of new technologies.
What’s more is that this problem won’t be solved any time soon. Before the pandemic, Korn Ferry was suggesting that there could be a global talent shortage of more than 85 million people. And McKinsey suggests that the pandemic has accelerated digital transformation by several years.
The skills gap does mean that there are growing opportunities for experienced candidates, as well as those starting out in their career or who are looking to upskill and enter the sector. Many companies are turning to flexible and remote working to attract candidates. Equally, more companies are offering upskilling initiatives, and even apprenticeships to train the next generation of tech talent.
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