Skillsoft Released 2023 IT Skills and Salary Report

Skillsoft released 2023 IT Skills and Salary Report which examines the current state of IT industry, highlighting the need for workforce upskilling and reskilling given the rapid advancement of AI and ML technologies.

Skillsoft , a leading platform for transformative learning experiences, today released its 2023 IT Skills and Salary Report. They studied 5,700 global IT professionals-  including leaders and staff members, to make this report which examines the current state of IT industry, highlighting the need for workforce upskilling and reskilling given the rapid advancement of AI and machine learning (ML) technologies.

Skillsoft’s 2023 IT Skills and Salary Survey was conducted online from May to September 2023 using the Qualtrics XM Platform. Skillsoft and the sponsors of this report distributed survey invitations to professionals around the world. The report was sponsored by Google Cloud, Nutanix, ISACA, Microsoft and CompTIA.

“With AI accelerating disruption at an unprecedented pace, the need for workforce training has never been more obvious and consequential,” said Orla Daly, Chief Information Officer, Skillsoft. “Organisations are at a critical point where they need to be deliberate and proactive about building skills and capabilities – especially related to AI – or risk falling behind in the coming year. Interactive training experiences where professionals learn by doing will unlock rich possibilities, creating business value while increasing team member engagement and morale.”

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Here are the highlights of the report: 

1. Focusing on Scope and Success of Training 

More than just a session is needed to optimise the training efficacy among technology teams, skill development is critical while building a competitive organisation. Only 37% of IT professionals report receiving training “most of the time” when their employers invest in new technology. Additionally, compared to last year, 40% more IT leaders say their organisation is not investing enough in professional development and 80% more say their current training programs are not effective at developing the skills they need.

Whereas the statistics look like a lost opportunity strengthening business outcomes and talent retention. IT professionals who receive training report improved work quality (62%), a greater sense of engagement (47%), and faster job performance (45%). 82% of IT professionals said that lack of skill development was majorly a reason for them to change employers in the last year, and they also emphasised on how important training is to their career development. 

2. Investing in Leadership and Soft Skills 

Soft skills are acknowledged essential for adapting and augmenting transformative technologies, especially GenAI. Whereas technical skills have traditionally been prioritised in the IT industry, while “soft” or power skills can fall by the wayside. IT professionals rank team communication (40%), interpersonal communication (21%), and emotional intelligence (13%) as the three most important skills for IT leaders to have. However, just 6% of IT leaders said leadership skills will be a key area of investment moving forward, and only 7% said the same about power skills.

With 72% of IT leaders ranking their existing teams’ leadership skills as medium to low, there is a significant gap between training needs and priorities in this critical area. By providing a differentiating training on soft and leadership skills definitely presents a greater opportunity to drive innovation, growth, and efficiencies 

3. Reinventing Relevant Upskilling Training Modules 

Obstacles like skills gaps, talent shortages, and technology transformation are impacting the IT industry, but they are easy to tackle too. With a well-orchestrated training program that blends multiple modalities and content types, these problems can be remediated. According to IT professionals, the most important features of a training program include quality of content (55%), opportunities for hands-on practice (50%), and multiple learning methods (38%). Online, on-demand training is the most popular learning modality among IT professionals this year (59%), followed by online live training (46%) and impromptu training at work (31%). Additionally, IT professionals leverage a variety of learning resources ranging from employer training subscriptions (35%) and certification prep guides (25%) to online communities (24%).

Key Findings Include:

• AI and ML are the biggest areas of focus for IT leaders, though 43% rate their teams’ AI and ML skill sets as low.
• One-in-three IT leaders are struggling most with finding qualified AI and ML talent.
• The top driver of skills gaps is the rate of technology change outpacing training programs.
• Last year, 45% of IT professionals said management did not see a tangible benefit from training. Just 15% now say the same, as skill building becomes a business imperative.
• 97% of IT leaders say certified staff adds value to their organisation.
• IT professionals’ top reason for skill building is to prepare their organisation for new technology, especially as generative AI (GenAI) becomes more advanced.

Here is the full report for additional insights and takeaways for organisations to optimise training within their technology teams. 

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