Massive skills shortages are hitting the UK tech sector. This is despite the fact that companies are increasing investment in technology and expanding headcount. Globally, the largest survey of senior technology decision-makers shows massive skills shortages. To combat the skills gap, tech companies are turning to technology-enabled solutions.
Cybersecurity is the most sought-after tech skill
In a world where data breaches are becoming more frequent and sophisticated, cybersecurity skills have never been more in demand. A recent scandal involving the Equifax database exposed sensitive consumer information and could have led to identity theft. As a result, new laws regarding data privacy are forcing businesses to become more compliant. Cybersecurity skills can help businesses stay compliant with these laws.
Cybersecurity professionals have many job opportunities and rewarding careers. As a result, 68 percent of those who work in this field are happy with their current jobs. Similarly, 54 percent of U.S. employees said they were satisfied with their jobs last year. However, organizations should consider more than just experience when evaluating candidates.
As companies migrate to cloud environments, cloud security skills have also become in demand. The internet of things and artificial intelligence are also growing in popularity, which increases the need for cybersecurity professionals. In addition, coding skills have become more important than ever. Even professionals in early careers can explore cybersecurity careers.
As businesses invest in cybersecurity skills, salaries are rising accordingly. This growing industry needs skilled professionals who are familiar with both private and public cloud platforms. Since the number of cyber attacks is on the rise, cybersecurity experts must be up-to-date with the latest cyber threats to remain relevant.
Contract hire is a way to combat the salary demands of full-time hires
The problem with full-time hires is their high cost. It's difficult to retain them and give them growth opportunities. Also, they are likely to leave if their job doesn't match their ambitions. On the other hand, contract employees don't have the same commitment and turnover risk as full-time employees. In addition, contract workers are flexible, so they can leave when their contract ends.
Another benefit of contract hire is that it helps companies implement new infrastructure and ramp up a team quickly. They can avoid the expense and time of hiring a full-time employee and can focus on other business priorities. Additionally, contract talent provides a cost-effective way for companies to identify top talent without compromising competitive salary and benefits packages.
In global tech, companies are recognizing the benefits of contract talent. As a result, they are often able to attract two to three quality candidates for a specific role. As a result, they are able to avoid a long-term commitment that may not be in the best interest of the company.
Another advantage is that contract employees can often earn more money than full-time employees. They also have greater options for remuneration and can take advantage of salary packages and tax deductions that are not available to regular employees.
Embrace technology-enabled solutions to bridge skills gaps
Skills gaps are a big issue. The World Economic Forum has predicted that one-third of the global workforce will need to reskill by 2030. The Future of Jobs Report 2020 predicted that the skills gap will continue to widen. Companies need to embrace technology-enabled solutions to bridge these gaps.
As the technology industry grows and evolves, there are many more positions than there are qualified people to fill them. This poses a challenge for organizations of all sizes. In order to keep pace, these employees need to develop new skills, including soft skills.
As the tech workforce continues to grow, businesses must embrace technology-enabled solutions to bridge these gaps. Using artificial intelligence and hybrid intelligence, businesses can empower workers to reskill to become more productive. A recent study from IBM estimated that by 2030, 120 million workers will need to be retrained to be able to adapt to the changing demands of the industry. Moreover, businesses must consider that Millennials and Gen Z, the so-called digital natives, will make up 75% of the global workforce.
Many organizations are trying to address this gap by hiring contractors or freelancers or repurposing current employees into new roles. However, these strategies only address a portion of the problem. Companies must assess their most pressing needs and focus their hiring programs accordingly. In addition, they must implement cultural changes that encourage continuous learning.