Lack of digital tech talent is an ‘existential threat’ to business growth and innovation
It has been building steadily for years. Many people didn’t notice it, but now everything has accelerated. Right now, and for the foreseeable future, we are in a new, rapidly evolving digital era. You will need to have basic technical skills just to keep up with all the changes. If you don’t, chances are you’ll lose even more ground.
If you want to stay ahead of the game, you must continually learn and improve. Fortunately, many progressive companies offer ways for you to learn new skills. This is especially prevalent because savvy business leaders recognize that to win the war for talent and stave off the big quit trend, companies provide access to knowledge.
Udacity is an edtech company offering massive, open online courses to help people learn technology, cybersecurity, artificial intelligence, data analysts, and software development. These are the skills needed for the future of work.
In an interview with Udacity CEO Gabriel Dalporto, he shared how the company – whose name is derived from his desire to be “bold for you, the student” – can help you take your career to the next level. at the top level. The online education company offers courses in 190 countries around the world and is “changing lives, businesses and nations through a radical transformation of talent in digital technologies”.
Dalporto said of accelerating technological advancement and its influence in the workplace, “The talent shortage has reached fever pitch.” He added, “If companies don’t invest in talent transformation, they are doomed. The lack of ready-to-use digital talent has become an existential threat to businesses around the world.
Dalporto democratizes online learning, especially in the digital space. He says moving to Silicon Valley is no longer necessary for a career in tech. For example, in collaboration with Egypt and Nigeria, the edtech company has helped smart young people in these countries learn skills, such as coding and data analysis, to enable them to set foot in the gateway to the booming technology sector.
To remain competitive, companies need to develop their employees. By teaching them new marketable skills, employees will feel appreciated and motivated. Armed with advanced skills, workers recognize that they will have the power to advance within the organization and advance their careers. Company-sponsored education also serves as a means of attracting, recruiting and retaining talent.
The glaring mismatch between the insatiable demand for experienced talent and the lack of people sufficiently equipped to take on these roles is hampering companies’ ability to innovate, grow and scale. Udacity is designed to quickly upgrade a team with the knowledge and skills needed to succeed in the new digital revolution. With over a decade of experience building digital talent at scale, Udacity is on a mission to help solve the growing knowledge gap.
Its program, along with the personalized support of a mentor and measurable results, helps students enter this high-paying sector. E-learning includes artificial intelligence, cybersecurity, cloud, computer programming, data science, digital marketing and robotics
To better understand the mismatch between available talent and the needs of fast-growing companies, Udacity conducted a study on the global impact of talent transformation with Ipsos, a leading independent market research firm, focused on the digital divide.
The edtech company surveyed over 2,000 managers and over 4,000 employees in four countries, including the US, UK, France and Germany. The report highlights the urgent need to close this skills gap. For many companies, their survival is at stake.
The glaring lack of ready-to-use digital talent reveals that digital transformation has stalled. Companies are frustrated because they have no way to access the talent they desperately need. Due to rampant demand, hiring is difficult and retention is low.
- 59% of employers say that not having enough qualified employees has a major or moderate impact on their business.
- 80% of employers think their learning and development programs are at least moderately effective, but only 45% of employees who have access to these programs say they are completely or very satisfied.
- A majority of young people in all regions believe that their employers should invest in their future by providing them with vocational training.
- 44% of employers report that employee turnover hinders the company’s ability to achieve its goals.
Digital transformation has stalled due to the lack of ready-to-use digital talent. The research shows that almost 60% of employers say that not having enough qualified employees has a major or moderate impact on their business. France and Germany are slightly more likely to say this than the US and UK. Additionally, 50% of employers report that digital transformation initiatives are being held back due to lack of employee adoption or engagement.
Employers have illusions about the effectiveness of existing learning and development (A&D) programs. Unfortunately, there is a serious disconnect between business and employees in existing training and development programs. Among employers who offer learning and development programs, the majority (80%) rate them as at least moderately effective. In contrast, among employees with access to these learning and development opportunities, less than half say they are completely or very satisfied with the programs (45%).
Ready-to-use digital talent is more important than ever. Ready-to-use digital talent is most important for businesses to enable digital transformation within the business, achieve innovation goals, increase retention, and increase satisfaction and productivity. happiness at work of employees. For example, 44% of employers report that staff turnover hinders the company’s ability to achieve its goals.
Young employees in all regions expect employers to pay for talent transformation initiatives. In all countries, a majority of young people (aged 18-49) believe that their employers should invest in their future by offering them vocational training. In Germany, 69% of people aged 18 to 29 share these expectations.
“Employees and employers agree that companies have a responsibility to invest in the future of their employees,” said Christopher Moessner, senior vice president at Ipsos. “This study by Ipsos is a wake-up call for companies to invest in talent transformation or risk falling behind. demanded and for employers who are unable to hire the right people to meet current and future demand.