20 May 2019
Inability to attract and retain digital expertise slows Australia and New Zealand organisation’s Digital Transformation
IDC PRESS RELEASE
Inability to attract and retain digital expertise slows Australia and New Zealand organisation’s Digital Transformation, IDC Reports
Auckland, May 9th, 2019 – IDC found that across Australia and New Zealand (ANZ), over 70% of organisations are allocating more than 10% of their spending on technology associated with innovation and workspace modernisation.
Despite this level of investment, only 17% of ANZ organisations say that they are better than their peers when it comes to attracting and retaining talent and developing digital skills. This demonstrates that most businesses are struggling to distinguish themselves.
What makes matters worse, only a quarter are in the process of transforming work culture and workspace in order to attract and retain talent, with 38% of ANZ businesses planning workspace transformation in the next few years.
“Companies are seeing shortages in digital talent but aren’t proactive enough in attracting and retaining that talent.” says Liam Landon, IDC ANZ lead analyst for Future of Work research “by digitally transforming and utilising cutting edge technologies companies are finding not only improved market position, but improved work culture and talent retention.”
To close the skill gaps, employers are engaging in training, contracting and project-based hiring, with each method helping to match the needs of a digital business.
To exemplify this, 34% of employers across ANZ are running targeted training programs, designed to fill the digital skills gaps they need today, whereas 39% are running training programs designed to meet digital skills needed for future projects. By not only looking at current skill gaps, but expectations of needs for the future, a business puts themselves in a strong position to overcome scarcities of digital skills.
On the other hand, 33% of Australian and New Zealand organisations have implemented or plan to implement project-based hiring policies to fill the digital skill gap. This is an alternative, where businesses can source from a growing pool of contractors and adapt quickly to changing demands for skills brought about by different projects.
These key results are drawn out of IDC’s recently published "Preparing the Workspace for the Future of Work: How New Zealand Compares with Australia " report.
International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services, and events for the information technology, telecommunications, and consumer technology markets. With more than 1,100 analysts worldwide, IDC offers global, regional, and local expertise on technology and industry opportunities and trends in over 110 countries. IDC's analysis and insight helps IT professionals, business executives, and the investment community to make fact-based technology decisions and to achieve their key business objectives. Founded in 1964, IDC is a wholly-owned subsidiary of International Data Group (IDG), the world's leading media, data and marketing services company that activates and engages the most influential technology buyers. To learn more about IDC, please visit www.idc.com. Follow IDC on Twitter at @IDC and LinkedIn.
For further information, please contact:
Associate Market Analyst, ANZ Future of Work
IDC Australia and New Zealand
+64 9 374 6694