Digital Skills Shortage Impacts Australian Businesses, Costs $9 Million Daily
Australia is currently facing a significant shortage of digital skills, which is having a detrimental impact on businesses across the country. According to a recent study conducted by RMIT Online and Deloitte Access Economics, this shortage is costing Australian businesses a staggering $9 million per day and $3.1 billion per year. The rapid advancement of technology and the increasing reliance on digital tools and technologies have created a pressing need for professionals with the necessary digital expertise to thrive in the digital age.
One of the main reasons behind this shortage is the disparity in skills and experience between younger and older workers. As experienced professionals retire, younger workers often struggle to match their level of expertise and skills. Additionally, the post-pandemic job market has seen a shift in priorities for workers, who now place more value on what they require from their workplace, such as higher salaries, flexible working practices, and a healthy workplace culture. As a result, many companies find it challenging to attract and retain talented professionals in this candidate-driven market.
To remain competitive and maximize productivity and efficiency, businesses are urged to invest in addressing the digital skills gap. Mollie Eckersley, Operations Manager at BrightHR ANZ, emphasizes the importance of a complete learning management system in this endeavor. Such a system allows employers to create and manage tailored training programs that meet the needs of their organization, empowering employees to learn and enhance their digital skills. By investing in employee development, businesses not only gain more skilled workers but also increase staff retention by fostering employee engagement.
As the demand for digital talent continues to grow, employers must respond with enticing offers to attract and retain skilled professionals. In a market where job seekers hold the power, employers need to go beyond competitive salaries. Staff perks, such as discount platforms, flexible working options, holiday entitlements, and learning opportunities, can significantly enhance pay packages and make a business more appealing to prospective and current employees alike.
In order to effectively tap into the pool of digital talent, businesses must streamline their hiring processes through the incorporation of technology. A centralized hiring process improves recruitment performance, enabling businesses to secure the ideal candidates for the role. It is essential for employers to adapt and navigate through the rapid advancements in technology, as the digital skills shortage is likely to worsen before it gets better. However, history has shown that businesses have successfully overcome similar challenges in the past, such as the rise of computers and the introduction of the World Wide Web.
In conclusion, the shortage of digital skills is a significant concern for Australian businesses, costing them millions of dollars daily. To address this issue, employers need to invest in comprehensive learning management systems, attractive employee benefits, and streamlined hiring processes. By doing so, businesses can enhance their competitiveness, attract top digital talent, and thrive in the digital age.
