Missing qualifications and skills of IT employees increase work stress and reduce productivity in companies, shows a new study by Skillsoft. The annual report “Global Knowledge IT Skills and Salary Report” from Skillsoft examines the current status of qualifications, training courses, opportunities for career development, remuneration and job satisfaction in the IT industry. Around 9,300 IT professionals in EMEA, North America, Latin America, and APAC were surveyed in the present study. Seventy-six per cent of respondents state that they are faced with critical skill gaps in their departments. That’s an increase of 145 per cent since 2016.
The good news for IT professionals: salaries have increased worldwide. In EMEA, they rank second behind North America, with an average of $ 71,603 per year. In Germany and Switzerland, salaries already significantly exceed this average and even turn on their US colleagues depending on the specialist area.
Digital-First Increases The Need For New Qualifications
“The digital-first trend does open up new opportunities for companies. However, it has also created an urgent need for new skills in the areas of cloud computing, cybersecurity, artificial intelligence, DevOps and many other technology areas”. “Skills gaps don’t just go away. They get bigger if not adequately addressed. The report shows the first signs that organizations have begun to fill this gap. But the work is far from over. Companies should put more emphasis on the development and training of their employees. In this way, they can offer skilled workers the chance to acquire new certifications,
Reasons For Gaps In Qualifications
Understanding the causes and implications of how they arise is essential in filling skill gaps. Thirty-eight per cent of IT managers named the speed of digital transformation and technological change as the main driver since existing competence development programs are taking too long to take effect. Respondents also saw difficulties in attracting qualified candidates and a lack of investment in training resources.
The analyst firm IDC predicts that such skill gaps will have a direct financial impact on company results. These could rise to $ 6.5 trillion worldwide by 2025. . In addition, the respondents stated, among other things, that a lack of qualifications increases the stress of employees. It would also make it challenging to meet quality and business goals and cause project delays.
Promote Professional Development
The report shows that companies are increasingly recognizing the critical role professional development plays in tackling skill gaps. In addition, training and career programs support employee loyalty and increase employee engagement. Fifty-six per cent of IT decision-makers say they have plans to train existing team members. Given that 80 per cent of IT professionals report a variety of benefits after acquiring new skills and certifications – including improved quality of work, increased engagement, and faster work performance – the provision of further training opportunities is a win-win situation for companies and employees.
IT Staff Are Looking For Opportunities For Further Development
Skillsoft’s “Global Knowledge IT Skills and Salary Report” provides further insights. This is how IT employees actively seek development opportunities. Otherwise, they change companies:
Respondents who changed employers in the past year cited the lack of growth and development opportunities as the main reason for their decision. This has also been the case for the past two years. Other reasons were the remuneration and the work-life balance.
Regarding the training method, 66 percent of respondents said they prefer trainer-led training. The remaining third prefer to learn using a more informal peer-to-peer methodology. This shows that the provision of various methods (blended learning) and personalized offers is advantageous.
Salaries are rising, and new qualifications enable further increases:
There was a positive development in all regions for the average annual salary of IT specialists. Aside from executives and salespeople, the higher paying positions can be found in the cloud, risk management, security, and IT architecture and design areas.
Fifty-two per cent of respondents said they had received a raise in the past year. Of these, 60 per cent attributed the improved pay to their job performance, the development of new skills or the receipt of industry certification.
More And More Certified IT Employees
More IT professionals than ever before are earning certifications and boosting the balance sheet:
Ninety-two per cent of all respondents said they had at least one IT certification, increasing 5 per cent and 7 per cent, respectively, compared to 2020 and 2019.
Sixty-four per cent of IT leaders said certified employees add $ 10,000 or more to non-certified team members, demonstrating the positive impact of investing in training on company bottom lines.