Win the talent battle - maintain your competitive advantage with emerging tech skillsets - human forward
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win the talent battle.
maintain your competitive advantage with emerging tech skillsets
human forward
about the survey. A Randstad survey of more than 400 tech industry leaders reveals that a shortage of emerging technology talent poses an immediate threat to the growth and competitiveness of Australian businesses. Without fresh solutions, the problems will continue to get worse. So how can your organisation secure the scarce skills it needs to succeed?
the future is here.
The past year The emerging At the same time,
has accelerated technologies they also heighten the
transformations in spearheading these operational demands
how we live, work, developments give on businesses in areas
and generate value companies the ability ranging from complex
within businesses. to sharpen efficiency, systems resilience to
improve decision making, data protection.
step up the pace of
innovation, and enhance
the employee and
customer experience.
jobs of the future in-demand today.
skillsets most important to tech leaders’ businesses.
83% cybersecurity 65% cloud computing 50% AI, automation & robotics
66% digital transformation 60% big data analytics 44% IoT
Change of this scale The leaders in our The problem is that Over four in ten leaders On top of this, nearly
demands talent as well as survey identify the most these prized capabilities in our survey are worried a quarter believe that
technology. Along with important emerging tech are becoming more that their businesses talent shortages will
a plethora of specialised skillsets in driving growth sought-after and harder will be unable to meet impede their ability to
new roles, existing jobs over the next 2-5 years as to secure all the time. future talent demand retain existing talent,
are maturing to adapt. cybersecurity, followed and growth, while a third reflecting an increasingly
by digital transformation, are concerned they will competitive job market.
cloud computing and lose their competitive
big data. advantage as a result.
talent shortages.
Where are the challenges of matching rising demands with available talent supply most acute?
Cybersecurity tops The shift to remote When we talk about According to
the list of anticipated working has increased cybersecurity cybersecurity
headcount growth, this virtual collaboration professionals this covers professional body (ICS)2,
while ranking just below and heightened the a host of different there are more than
artificial intelligence risks by requiring more roles including threat three million unfilled
(AI), automation and people to work outside intelligence, vulnerability positions worldwide
robotics in scarcity. More the inner firewalls of the management, network and employment in the
than one cybercrime is organisation’s virtual security, application field needs to grow by
now reported every ten private network. Just security, data-loss 89% in order to fill the
minutes in Australia1. as crucially, criminals prevention, incident talent gap2.
In part, the rise in are becoming more response and forensics,
cybercrime and resulting sophisticated and casting each with their own
need for security their net wider across training and development
specialists reflects just different industries. This demands. Little wonder
how much more business in turn not only requires then that talent demand
is conducted on digital more cybersecurity so vastly outstrips supply.
channels and how much professionals, but
more people within also people with more
companies collaborate specialised and sector-
virtually. specific competencies.largest growth areas: biggest expected increase (20%+) in headcount per field.
39% cybersecurity 33% digital transformation 27% IoT
33% AI, automation & robotics 32% big data analytics 26% cloud computing
AI, automation and It also shows new A PwC study looking Automotive is just behind,
robotics is the area possibilities and resulting ahead to 2030 found that reflecting the move to
where skills are in business models opening healthcare is the sector driverless vehicles ahead.
shortest supply, and up in areas ranging that is likely to see the
second in the growth from chatbot customer greatest impact from AI
rankings. This reflects engagement to artificial in the long-term, taking
the gathering pace of intelligence-enabled on much of the routine
digitisation and process analytics and machine diagnosis and even
automation. learning diagnostics. treatment provided by
doctors3.talent scarcity.
54% AI, automation & robotics 40% IoT 37% digital transformation
45% cybersecurity 37% big data analytics 30% cloud computing
In third is financial Eventually, client Financial services For example NAB setting
services, a sector in engagement, loan also highlights the out to hire some 2,000
which Australia has long approval and even numbers needed to data scientists, AI experts
been at the forefront of trading and insurance keep pace with digital and other tech specialists
innovation worldwide. underwriting could be transformation. as part of its ‘digital
We already have largely handled by AI. first’ transformation
AI-enabled robo-advisors programme4.
for investments and
financial planning.As we reported in our Broadly, this includes The already rapid pace of
2020 report, ‘securing domain experts who digital transformation and
in-demand skills now’5, work out how AI could increased harnessing of
AI specialist is now be applied within the Big Data analytics within
number one on LinkedIn’s business, DevOps Australian businesses
fastest-growing jobs list engineers for application has moved up a gear
across the labour market development, various in the wake of the
in Australia. However, AI specialists to ‘train’ the COVID-19 pandemic.
specialist is a nebulous model, data scientists The acceleration of
term, as AI is a whole to extract actionable digital transformation
new field of work, rather information and business and remote working
than a specific job. The analysts to turn the are one of the three key
“Innovation is the universe of roles spans a
whole series of specialist
roles and niche subsets
data into insights and
innovations. Talent
planning and recruitment
trends highlighted in
LinkedIn’s ‘Jobs on the
Rise in Australia 2021’
outcome of a habit, within them. strategies in this field
therefore need to
report6. Growth areas
include digital and social
not a random act.”
be geared to highly media marketing as
specific roles. brands worked harder to
engage and understand
Sukant Ratnakar
consumers online.barriers.
Why is emerging tech talent so hard to secure here in Australia?
Cost is the biggest Half of the leaders expect Yet, there is more to One in five participants in Employees know that not
barrier to securing talent emerging tech specialist securing the talent you the Randstad Employer only is the work exciting,
according to the leaders salaries to rise by 10% need than just money. Brand Research cite but they will also emerge
in our survey. It’s clear within two years, and a These kind of niche interesting work as the more employable in fields
that the specialists they third predict 20% growth. specialists have an most important factor that are advancing all the
are looking to attract and According to Randstad’s insatiable appetite for when taking up a new time. Moreover, across
retain know what they 2020 Employer Brand new challenges and job, and one in ten the Australian working
are worth. The challenge Research, talent with operating at the cutting working with the latest population as a whole,
can only increase with niche skills can get a edge of technology. technologies8. Smart the Randstad Employer
demand. 10-15% rise by businesses consciously Brand Research reveals
moving jobs7. building these that good work-life
career development balance actually tops pay
opportunities into a as the most important
compelling employee factor when choosing a
value proposition. new employer9.UBank
Emerging technology Talent is clearly critical in To help attract talent The in-house team
is creating a new breed developing and applying that might not have is supported by an
of disruptors. UBank is this kind of innovation. considered working in extensive talent
case study. a prominent example.
Its record of AI-enabled
innovation includes
UBank’s talent strategy
is consciously different
from a conventional bank.
banking, the company
is keen to create an
informal, empowered,
ecosystem. For example,
Mia was developed
through a partnership
the 2019 launch of Mia This is a lean operation, and non-hierarchical with FaceMe, a New
(short for ‘My interactive with some 600,000 working environment. Zealand-based fintech
agent’), the world’s first customers served by “We have the freedom specialising in AI-enabled
1
‘digital human’ home only around 300 staff. A to explore new things customer experience.
loan application assistant. core team of developers and develop new skills,” Other partners include
Mia is able to answer and testers is supported says Aaron Stephenson, tech giant IBM and the
common home loan by people who bring Senior iOS Developer and University of Sydney.
enquiries. Her persona is the technology to life in Accessibility Champion.
designed to be “smart, areas such as experience “I can wear board shorts
approachable and a little design or analysing to work and still have a
bit cheeky”. social media. chat with our leadership
team,” says Adi Rony, an
expert in digital customer
experience.
Building a talent ecosystem inside and out.bridging the talent gap.
While the leaders in Businesses desperate to Many are also keen to
our survey recognise bolster headcount are support educational
the significant talent pinning their hopes on programmes and
challenges they face, a mixture of reskilling capitalise on the work
this isn’t holding back existing staff, hiring from home revolution by
demand. Nearly a experienced talent, and hiring remote workers
third plan to increase outsourcing, along with in both Australia and
headcount in emerging engaging contractors abroad.
technologies by over and consultants.
20% in the near future.
“Let’s go invent tomorrow
instead of worrying about
what happened yesterday.”
Steve JobsSourcing headcount: most popular strategies for sourcing future talent.
60% provide a career path that 32% hire remote workers 18% hire remote workers
transitions well to others. – domestic – international
34% support training / 28% use partners
educational programs or outsource
Is this enough to bridge Building on existing
the gap? For general tech customer facing skills,
roles, these are important conversion programmes
steps forward. Successful focus on such capabilities
examples of upskilling as scenario analysis,
and reskilling include cybersecurity and
retraining bank tellers to customer journey
work in digital marketing design10.
and engagement.But for niche emerging tech roles, many businesses may need to go further.
In our experience, Yet for cybersecurity, In response, we at
organisations can even basic proficiency Randstad have increased
often find it difficult to can require at least our investment in
shift the focus of their two years of training emerging technology
talent strategies from and experience – the roles to help our
generalist tech roles gold standard Certified clients find, hire,
to the specialist areas Information Systems and upskill talent in
covered in this report. Security Professional emerging technologies.
What works for generalist certification calls for at Recognising that
“The technology you use
capabilities may fall short least five12. Moreover, the generalist IT recruitment
here. If we look at what application of emerging can only go so far, our
can be achieved through technologies in a emerging technology
impresses no one. The reskilling, for example,
a four-month learning
programme could help
particular business often
demands quite specific
capabilities, which can
capability is built
around the foundation
of experienced,
experience you create people to move into
general roles in cloud
require specialist support
to identify and source.
specialist recruiters,
each of whom has a
with it is everything.”
and engineering11. In short, it’s time for deep understanding of
a rethink of emerging the marketplace, the
technology strategies. technology and the
Sean Gerety
nuances that exist within
every new skillset.kablamo
“No question that the Number one on his list Angus Dorney also Other recommendations
best tech talent is of tips is giving talent emphasises the include adopting a more
scarce… But we keep choices, challenges, importance of being flexible approach to
case study. hiring and retaining
great people,” says
Angus Dorney,
and change. “The best
technical talent needs to
live in an environment of
fast and different when
you want to attract rare
talent. “They’re not afraid
where people work.
“Top tech talent is mobile
and free, they work from
co-CEO of Australian rapid customisation and of hard work, but they home, the train, at odd
data management and variability – that’s the way thrive when each day is hours. When you attract
digital design company, they like it… That means different and things are the best, you trust and
2
Kablamo, in an interview your tech team needs fast-moving,” he says. adapt,” he says.
with Intelligent CIO. to constantly be able
The team includes to find unique solutions
what Angus Dorney to unique problems.
describes as “globally Give them puzzles, hard
recognised techies”. How puzzles and they will
has Kablamo been so thrive,” he says.
successful?
When you attract the best, you trust and adapt.next steps.
Securing the scarce skills required to
excel in Cybersecurity, Cloud Computing,
AI Automation and Robotics, Digital
Transformation, Big Data and Analytics,
and IoT is crucial to the future success of
your business.
If you would like to discuss any of the
topics within this report, learn how our
emerging technology specialists can
support you, or attend networking events,
please feel free to get in touch with
Richard or visit our website.
Richard Hunter
State Manager Technologies
richard.hunter@randstad.com.au
0414 274 157win the talent battle.
maintain your competitive advantage with emerging tech skillsets
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