Skillsoft has released its 2024 IT Skills and Salary Report, offering insights from over 5,100 global IT professionals and decision-makers. The report sheds light on the state of the IT industry, emphasizing the urgent need for upskilling and reskilling to keep pace with rapid technological advancements and shifting workforce demands.
- Key Findings from the Report
- Top Investment Priorities: AI/ML, cybersecurity, and cloud computing remain key focus areas for IT leaders.
- Skill Gaps:
- 65% of IT teams face skill deficiencies, especially in AI/ML and cybersecurity.
- 72% of IT leaders plan to address gaps through training.
- Tangible Benefits of Training:
- 94% of IT leaders reported positive workforce impacts from skilling initiatives, up from 90% in 2023.
- Addressing Skill Gaps
- Anticipated to persist for 1-2 years, skill gaps are primarily addressed through:
- Upskilling current talent (72%).
- Hiring additional staff (38%).
- Leveraging AI to automate processes (30%).
- Risks of Unaddressed Skill Gaps: Increased employee stress (54%), extended project durations (42%), and difficulty meeting objectives (37%).
- Anticipated to persist for 1-2 years, skill gaps are primarily addressed through:
- Value of Certifications and Leadership Development
- Importance of Certifications:
- 97% of IT leaders value certified staff for bridging gaps, boosting productivity, and improving work quality.
- Certified team members contribute over $25,000 in annual added value for 34% of organizations.
- Leadership Skills in Demand:
- Top leadership qualities include team communication (74%), problem-solving (70%), critical thinking (70%), and technical skills (62%).
- Leadership Development: 28% of organizations plan to invest in leadership skill-building programs in 2024.
- Importance of Certifications:
- The Impact of Continuous Learning
- Job satisfaction improves significantly with access to training, with 61% of respondents considering career moves for better learning opportunities.
- Desired benefits among job seekers:
- Higher compensation (43%).
- Growth opportunities through training (35%).
- Remote or hybrid work options (35%).
The 2024 IT Skills and Salary Report underscores the evolving priorities of the IT industry. By fostering a culture of continuous learning, organizations can not only address skill gaps but also drive employee satisfaction and business success. From certifications to leadership development programs, Skillsoft highlights the critical role of adaptable and holistic skilling initiatives in staying competitive in a rapidly transforming landscape.
