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Beware: Demand For New Skills Can Create Skills Gap

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recruitment, employees, new employees...

While the emergence of innovative technologies is important for business, it can cause some problems. It is vital that firms know a continual charge forward with new technology can create a notable skills gap in an organisation. Some people will take to modern technology very quickly whereas others may need more time and training to be brought up to speed. With the pace of technological progressing extremely fast these days, it is vital that firms are aware of the barriers and problems that may arise.

Ideally, a company will be able to fill gaps from their own workforce but given the pace of technological change, this may not be the case. Therefore, many companies have to look outside to plug these gaps, and this is being felt by many companies.

A recent study, undertaken by LinkedIn UK, suggests that 51% of recruiters and HR professionals in the United Kingdom are experiencing a rising demand for candidates who have AI skills. Also, 49% of these groups have witnessed an increase for candidates who have cryptocurrency skills while 46% of respondents have said they have experienced an increase in candidates with blockchain skills.

Many roles are in great demand for recruiters

Statistical analysis and data mining have also been highly prized, as have been the need for professionals who have experience with network informant and security. Mobile development is another where jobs are in high demand and professionals who have machine learning skills are likely to find that they will be in demand in

Candidates are developing fresh preferences too

When it comes to the industries that candidates want to work for, there are some notable responses, including:

  • 42% of respondents want to work in the cryptocurrency business sector
  • 41% of respondents would be receptive to working with investment funds
  • 40% of respondents would be willing to work in the challenger banks area
  • 40% of respondents said that the fintech sector was appealing

There is a drop-off when it comes to traditional banks with only 32% of respondents saying that this is an area that they want to work in.

The Head of Talent Solutions at LinkedIn UK, Jon Addison, said; “It’s positive to see hiring remain strong across the UK financial services industry as it remains a hugely important part of our economy - with significant workforces in most of the UK regions - this is reflected by our LinkedIn Workforce Report data which shows hiring rates steadily increasing across the sector since autumn 2016.”

Addison continued by saying; “But shifting demands - from both businesses and professionals - coupled with external factors like Brexit, automation and regulation, mean talent professionals need to keep pace with this evolving landscape if they want to remain competitive and attract, retain and nurture professionals with the right skills.

It can be difficult for a company to meet the needs and demands that arise when technology improves, but it is crucial that a company works towards filling these gaps. Recruitment is often the solution and if you are looking for assistance in this area, Technical Resources is happy to help.