- Marketing organizations face a critical talent shortage due to a lack of digital skills, according to most marketing executives responding to a recent survey from The Economist Group and Digital Marketing Institute.
- Survey respondents identified artificial intelligence as the technology they expect to most influence marketing function in the next five years. Significantly fewer said mobile apps, digital assistance and immersive technologies would do so. To cope, nearly half of the executives said they'll focus more on recruitment; 40% said they'll focus equally on recruitment and reskilling of their existing workforce.
- "Unfortunately, the majority of marketers we surveyed say they have not kept pace with the technologies their consumers are using, while at the same time identifying customer experience as the leading driver of marketing success," The Economist Group’s Mina Seetharaman, EVP, chief strategy and creative officer, said in a press release. "The success story, though, isn't just one of technology, but of the talent who can adapt to the ever-changing tech landscape with a creative and customer-focused mindset."
Marketing professionals seem to agree with their executives' assessments: In survey results released in January, 88% of creative and marketing professionals said advances in technology will make it difficult for them to keep their skills current.
But the marketing profession isn't alone. Across industries, the demand for skills is expanding beyond specialization to include digital proficiency, soft skills and business acumen. A digital revolution coupled with low unemployment has left many employers scrambling. In fact, the talent shortage has climbed from third to first place on Gartner's list of emerging risks for organizations worldwide.
Organizations are finding various ways to cope with the labor shortage, despite the challenges. HR Dive recently asked five businesses how they're responding. Among other things, the employers said they are:
- Prioritizing branding;
- Looking for nontraditional talent;
- Upskilling workers in tech, analytical, leadership and communication skills;
- Diversifying use of job boards and other avenues to source talent;
- Launching apprenticeship programs; and
- Looking at talent migration patterns to see where the workforce is headed.