create a successful talent strategy with unique market insights
The skills gap for in-demand skills has been growing for years, but the acceleration of digitalization across all sectors during the pandemic has made that gap wider. Even though talent scarcity is occurring across more skill sets than before the pandemic, the problem continues to be most pronounced in the IT and emerging technology specialties — driven in part by rising demand for those services and products. In examining the top skills in demand today, little has changed since the start of the pandemic; if anything, the need has simply become more urgent.
Both economic data and recent corporate initiatives underscore the growing skills gap. For instance, the Wall Street Journal reports that from November of 2020 to March of this year, the number of U.S. job postings for AI professionals nearly doubled.
In October 2021, Google launched a new program to get 40 million people trained in Google Cloud skills. And ZDNet reports that 57% of cybersecurity professionals say a shortage of cybersecurity skills is affecting their organization.
According to Information Week, competition for skilled IT workers has never been more heated. Our research affirms that the explosive growth in the internet of things, block chain, cybersecurity, data science and other applications has led to unprecedented demand for talent. For human capital leaders, this has become a double-edged sword: on one hand, more students are seeking careers in these fields; on the other, more businesses are competing for these individuals.
Our "Global future in-demand skills" research affirms that the explosive growth in the internet of things, block chain, cybersecurity, data science and other applications has led to unprecedented demand for talent.
Although the wide adoption of remote working has broadened the talent pool for many companies, access to global talent is still prohibitive for many businesses due to taxation and local employment laws. Still, the proliferation of online talent marketplaces, a lowering of geographic barriers, and flexible jobs and schedules are helping to alleviate the skills gap for some organizations.
how can you recruit the best people for your organization?
Our Global Future In-Demand Skills research spans 26 markets around the globe, and it is clear where talent is most concentrated: the U.S. leads in most categories, with India, China and the U.K. also among leading economies with these in-demand skills. The equilibrium between supply and demand in these places during the past 18 months has been highly dynamic, as wage inflation has impacted all of the skills we have profiled here.
We know there are many factors that impact how and from where you source talent: cost, skills, availability, cultural fit, diversity goals and more. This report highlights nine in-demand skills and provides intelligence on six factors impacting talent acquisition for each skill in each market, including: the potential candidate supply pool, market competitiveness, the target industries you’re competing with, total work experience breakdowns, education backgrounds and compensation.
The nine high-demand skills are:
1. artificial intelligence (AI) and machine learning (ML)
2. augmented reality (AR) and virtual reality (VR)
4. cloud computing
6. data science
7. internet of things (IoT)
8. robotic process automation (RPA)
9. user interface/experience design (UI/UX)
How well your business responds to the widening talent gap and talent shortages will be critical to your growth in the months and years ahead. You can use the market intelligence in the report to inform your talent strategy moving forward, and to effectively attract and source the people your business needs to thrive.