Articles about labor gap

In the race towards the Fourth Industrial Revolution, organizations are embracing technologies that enhance connectivity and streamline processes. While rapid digitalization has helped businesses thrive and stay afloat during a turbulent last few years, it has also opened the door to increased vulnerabilities that malicious actors can exploit.

This increased exposure comes at a time when cybersecurity threats worldwide continue to increase at an alarming rate. According to the latest Blackberry Global Threat Intelligence Report, the number of unique attacks using new malware samples skyrocketed by 50 percent from December 2022 to February 2023, with up to 12 attacks per-minute observed. In the UK, where cybersecurity has been identified as a Tier 1 threat alongside terrorism, war and natural disasters, 32 percent of businesses have reported a breach or attack during the last 12 months.

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We hear a lot about the cybersecurity skills gap, which the latest research puts at 3.4 million globally. There are lots of reasons why organizations find themselves dealing with a skills deficit -- from an actual dearth of qualified talent to internal factors including turnover, lack of budget/competitive wages, limited opportunities for growth and promotion, and lack of training. 

One aspect that is within a company’s control, but is often unremarked, is unrealistic hiring practices. While this can be a problem across all sectors -- after all, every business wants to be sure they get highly experienced people on board -- there seems to be a particular issue around cybersecurity hiring. 

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IT is experiencing a skills gap crisis. According to McKinsey, nearly 90 percent of companies are already experiencing one or will within the next few years.

The previous generation of IT workers has or is aging out of the workforce, taking their expertise with them. As all of their historical knowledge leaves the workforce, demand for talent -- particularly in areas like DevOps, automation, cloud, and cybersecurity -- is heightened. However, the number of tech jobs available continues to outpace the number of hires. One study found nearly 90 percent of leaders feel unprepared to fill that gap.  

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Despite ongoing economic uncertainty, companies of all sizes are still facing a severe shortage of IT personnel, a challenge compounded by the fact that almost every industry is competing for scarce skilled tech workers.

This well-documented problem has become known as the IT talent gap, and it is causing significant difficulty for organizations looking to fill a range of critical roles. In fact, 73 percent of business leaders predict they will struggle to fill open technology roles in 2023, according to industry research. These gaps in knowledge and experience are the root cause of a number of issues, not least of which include decreased revenue and customer satisfaction, increased stress and high turnover.

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People who have viewed automation and artificial intelligence with a sense of dread may be beginning to appreciate how it can reduce the boring, repetitive work that is the bane of their lives. In fact, rather than being a threat to human contributions to the enterprise, automation is a powerful enabler of creative, innovative work.

An unwillingness to accept new technology goes back to the beginning of the Industrial Age when people (including the original Luddites) saw machines as infringing on their livelihoods. But the opposite proved true, as industrialization increased employment.

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