81%, of organisations surveyed have encountered a shortage in “power user or developer” tech skills, a new report titled ‘Tech skills transformation – Navigating the future of work in 2025 and beyond’ released by EY and iMocha has revealed.
The report is a comprehensive study on how technology skills are increasingly integrating across all job roles, beyond traditional IT roles. The study assesses the topic from three lenses – in-demand tech skills across domains, the organisational impact of tech skills transformation, and organisations’ response to tech skills transformation.
Merely 19% of the organizations reported having established a skill taxonomy, while 43% had conducted skill benchmarking at the employee level. There is an estimated global tech talent pool of over 26 million people with 65% in software engineering roles followed by 27% in IT roles and 8% in business app-related roles.
Amit D Mishra, Founder and CEO, iMocha, said in a statement: “Job roles and skill needs are changing faster than ever. In this report, we discovered 28% of the leaders believe they will have to revamp tech skills for a third of their talent base by 2025 to stay competitive. The adoption of skill taxonomy and benchmarking is a clear indicator that the increasing complexity of tech skills is necessitating leaders to reconstruct their talent acquisition, development, and management strategies.”
Nonetheless, the shortage of future tech skills is expected to arise from the high demand for application developers and business app users, as indicated by 76% and 62% of the surveyed organisations, respectively. The report highlights India's standing as one of the top tech talent markets, with a market share of 16%, putting it on par with Europe's 16% and the USA's 20%.
Alpana Dutta, Partner, People Advisory Services, EY India, said, “With the increasing usage of different tools, the complexity of skills needed across various functional areas (software engineering, IT, and business application power user) is also increasing. Hence it is not surprising that 62% of employers believe that 5-15% of their talent base will require skills transformation in the next 2-3 years, with 33% of employers estimating that 15-35+% of their talent base will require this upgrade. For HR leaders, enabling tech skills transformation will necessitate taking a multi-disciplinary approach.”
The report's findings are based on in-depth interviews with industry leaders from various sectors, ensuring that multiple industries were represented from across geographies like India, the US, the UK, and EU. Respondents came from a range of industries, including independent software vendors (ISVs) (16%), IT/ITeS (41%), BFSI (29%), and Telecom (9%).
ISV (Independent Software Vendor) and IT/ITeS (Information Technology enabled Services) industries prove to be the biggest tech talent incubators accounting for almost half (more than 47%) of the resources, the survey found. Other major industries that incubate tech talent include BFSI (Banking Financial Services and Insurance) (10%), logistics and supply chain (8%), and telecom (5%).
The report is a comprehensive study on how technology skills are increasingly integrating across all job roles, beyond traditional IT roles. The study assesses the topic from three lenses – in-demand tech skills across domains, the organisational impact of tech skills transformation, and organisations’ response to tech skills transformation.
Merely 19% of the organizations reported having established a skill taxonomy, while 43% had conducted skill benchmarking at the employee level. There is an estimated global tech talent pool of over 26 million people with 65% in software engineering roles followed by 27% in IT roles and 8% in business app-related roles.
Amit D Mishra, Founder and CEO, iMocha, said in a statement: “Job roles and skill needs are changing faster than ever. In this report, we discovered 28% of the leaders believe they will have to revamp tech skills for a third of their talent base by 2025 to stay competitive. The adoption of skill taxonomy and benchmarking is a clear indicator that the increasing complexity of tech skills is necessitating leaders to reconstruct their talent acquisition, development, and management strategies.”
Nonetheless, the shortage of future tech skills is expected to arise from the high demand for application developers and business app users, as indicated by 76% and 62% of the surveyed organisations, respectively. The report highlights India's standing as one of the top tech talent markets, with a market share of 16%, putting it on par with Europe's 16% and the USA's 20%.
Alpana Dutta, Partner, People Advisory Services, EY India, said, “With the increasing usage of different tools, the complexity of skills needed across various functional areas (software engineering, IT, and business application power user) is also increasing. Hence it is not surprising that 62% of employers believe that 5-15% of their talent base will require skills transformation in the next 2-3 years, with 33% of employers estimating that 15-35+% of their talent base will require this upgrade. For HR leaders, enabling tech skills transformation will necessitate taking a multi-disciplinary approach.”
The report's findings are based on in-depth interviews with industry leaders from various sectors, ensuring that multiple industries were represented from across geographies like India, the US, the UK, and EU. Respondents came from a range of industries, including independent software vendors (ISVs) (16%), IT/ITeS (41%), BFSI (29%), and Telecom (9%).
ISV (Independent Software Vendor) and IT/ITeS (Information Technology enabled Services) industries prove to be the biggest tech talent incubators accounting for almost half (more than 47%) of the resources, the survey found. Other major industries that incubate tech talent include BFSI (Banking Financial Services and Insurance) (10%), logistics and supply chain (8%), and telecom (5%).
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