There is a growing skills gap that is affecting the entire tech industry. According to the Bureau of Labor Statistics, job openings in the tech industry are projected to grow 13 percent from 2020 to 2030, faster than the average for all occupations. McKinsey says finding tech talent will be a “formidable challenge” in the years to come.
“Companies of all sizes around the globe are facing growing pressure to attract and retain skilled technologists. The Great Resignation has made tech employee attrition a boardroom-level discussion. With the need for tech jobs rapidly outpacing the number of qualified candidates, it’s clear that hiring your way out of this talent crunch is not an option. Instead, organizations must invest their resources in upskilling and reskilling their current employees. As the data suggests, if you invest in your employees’ growth and development, they are less likely to seek jobs elsewhere and will invest their skills into the key initiatives of your organization. Failure to do so increases the risks of accelerated attrition,” said Gary Eimerman, General Manager of Pluralsight Skills.
Key Skills Gaps in 2022
The study also finds that cybersecurity is the area with the largest skills gaps among respondents, replacing cloud computing as the top-ranking area of focus for individuals and organizations in 2022. Forty-three percent of respondents ranked cybersecurity as their top skill concern while 39% of respondents ranked cloud computing as their top skill concern. In 2021, 39% of respondents ranked both cybersecurity and cloud computing as their top skills gaps.
Similarly, 44% of respondents in the 2022 study listed cybersecurity as the skills gap that poses the greatest threat to their organization. Beyond cybersecurity and cloud computing, data storage (36%) and network infrastructure (28%) are some of the top skills gaps in 2022.
HR Technology News: Educational Results Partnership Proposes New Architecture to Improve Post-pandemic Educational and Economic Productivity
Tech Workers Eager to Upskill
According to the survey, only 36% of all organizations are allocating dedicated work time for learning, with only 32% of tech companies designating work time for learning. The majority (91%) of respondents want to improve their tech skills to fulfill personal career goals. Additionally, 86% of respondents want their tech skills to align with their organization’s overall strategy.
This data shows a misalignment between technologists’ desire to hone their skills and organizations’ willingness to dedicate time for upskilling. Technologists are eager to gain skills to make their organizations more successful. Business leaders must allocate resources and time to help technologists achieve their upskilling goals.
HR Technology News: HR Technology Highlights – HR Tech Daily Round-Up For 26-March-2022
Impact of Upskilling on Attrition
In the midst of the Great Resignation, organizations must develop proactive strategies to ensure that their employees are receiving the learning and development tools they need. The study found that 52% of respondents consider leaving their job every month. Additionally, 40% of respondents say they are moving on from their current job due to lack of career growth opportunities. More than one third (37%) of respondents said that professional growth and learning are the top reasons to consider a new job, while 33% of workers say they are moving on from their current job due to lack of upskilling opportunities.
It’s clear that technologists are hungry for growth opportunities and are seeking organizations that align with and support their upskilling goals. Organizations who invest their resources into upskilling their employees will see greater employee retention and satisfaction in the coming months.
HR Technology News: Challenge Employee Benefit Status Quo With MindFirst Health & Fitness “Whole Person” Approach to Well-Being
[To share your insights with us, please write to sghosh@martechseries.com]