Companies are struggling to find talent to ensure their workforce remains competitive in an AI-driven world of work, according to a new report.
The study carried out by global tech training firm General Assembly highlights urgent need for new approaches to identify, train, and hire talent for in-demand tech roles. Titled The State of Tech Talent 2024 the survey, conducted in partnership with Wakefield Research, sourced insights from over 1,000 HR leaders that are hiring for software engineering, data analytics, and UX roles, focusing on the challenges–and preferred solutions–for keeping pace with the increasing demand for workers who can utilize AI technology and tools.
“Hiring for many types of jobs and across many industries is incredibly challenging – the process takes too long. However, AI is enabling significant improvements to make the process simpler and faster,” said Hannah Calhoon, Head of AI Innovation at Indeed. “To ensure that workers can experience the benefits of AI once they secure a job, it’s more important than ever to embrace new approaches to upskilling and reskilling. Workers at any level and from a wide range of professional backgrounds can successfully adapt to AI-driven changes that will impact all industries.”
AI SKILLS IN HIGH DEMAND
The report outlines how HR leaders from across the globe – including Australia, Canada, France, Singapore, and the United States – are taking action to develop an AI-enabled workforce. Their responses are paired with actionable guidance based on General Assembly’s delivery of tech training services to Fortune 500 companies, including Microsoft, Humana, Indeed and Adobe.
Key findings show that AI skills are in extremely high demand. In fact, 69% of HR leaders say it’s more challenging to hire people with adequate AI skills compared to those in traditionally hard-to-hire roles in data analytics, data science, software engineering, and UX design.
The findings also reveal that companies are having to pay more and more to acquire the tech talent they seek. For example:
- In most instances (66% of the time), companies are agreeing to pay what job candidates are asking for, according to the survey.
- More than half (52%) spend at least $10,000 to fill roles that require AI skills.
NEW ALTERNATIVE ADAPTABLE HIRING METHODS
Companies are also having to utilise alternatives to finding and hiring talent. In fact, the findings show that:
- 53% are reducing traditional educational requirements for their open positions.
- 52% are hiring additional HR staff to acquire talent.
“Companies are entering a new era – one that requires their workforce to not just master AI tools available on the market today, but also respond quickly to the rapid evolution of generative AI,” said Gretchen Jacobi, Head of Enterprise at General Assembly. “Keeping up, and staying ahead of the curve requires new, adaptable methods for hiring, retaining, and reskilling workers. The companies that succeed in this changing world of work will be the ones that embrace the potential of new approaches to training and talent development to navigate the age of AI.”
To download the full report, click here.
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