As companies continue to face a digital skills shortage, it appears that software development is the hardest hit area.
Thanks to the rapid development of new technologies such as AI, the Internet of Things (IoT) and Big Data, it is believed that companies will need to adapt by closing the gap – but this can be a challenge.
Now a new study has identified some of the key elements contributing to the skills shortage and what can be done to solve the problem.
Bridging the gap
The top challenges for companies are “finding qualified candidates and keeping up with ongoing technological advances,” says Jim Cassidy, CEO of Code Institute. He adds: ‘The evolving nature of technology often overwhelms traditional education and training programs, creating a skills gap that companies need. employers require and the qualifications that candidates possess.”
Code Institute says companies will fall behind if they don’t have the right skills. They also find it difficult to know what talent to acquire, let alone the struggle to actually hire them.
“This in turn places a heavier workload on existing employees, leading to increased work-related stress levels, which ultimately hinders the smooth execution of digital transformation initiatives,” the CEO said.
With the expansion of AI tools in the workplace – with the market expected to grow 40% annually in Europe alone through 2028 – talent is needed to “design, implement and maintain these technologies,” says Cassidy.
One solution is for companies to introduce flexible upskilling with training programs for current employees. These should be tailored to their individual needs, and will allow companies to “promote resilience and agility among their employees by investing in the professional development of their workforce”.
Upskilling in this way will also benefit workers themselves as they will “remain competitive in an ever-changing labor market, increasing their overall job security,” the study said.
This, in turn, contributes to the long-term success of companies because it “cultivates a flexible workforce capable of dealing with different challenges and innovations in the sector,” according to Cassidy.
In addition, collaboration with professional partners is also a must, to find the right talent from outside and effectively train their existing employees. Lifelong learning programs, boot camps, and part-time online courses should also be offered to maintain ongoing development.
Failure to bridge the gap could be dangerous not only for businesses themselves, but also for the wider economy. Cassidy concludes that “flexible upskilling, careful recruitment and ongoing career development” are the ways to bridge the gap.