- A majority of exec-level decision makers worry about the health of their industry in the coming two years, according to a new report from Ceridian, but companies may not "be directing their focus to high-impact, high-value actions that create long-term success." For instance, while companies are increasingly adopting tech, half of those surveyed admit they are struggling with "rapid tech development."
- Due to technology adoption, 46% of employers said the size of their workforce will increase. However, a majority also noted that they will face a skills gap within the next two years, and 59% said they will face a labor shortage within the same time frame.
- To meet demand for skills and labor, 53% of those surveyed plan to leverage remote workers, 51% plan on assignment-based freelance support and 50% will outsource or look for contract workers.
Workers are less concerned about the impact AI will have on their future employability, but managers aren't as optimistic, a Robert Half report noted earlier this year. Almost half of managers believe that workers will need new skills to keep up, and 82% said it will be "challenging" to get staff up to speed. The jury may still be out on whether technology will add more jobs than it eliminates, but there is consensus that disruption is coming — and only 42% of tech company CEOs plan to upskill the majority of their employees in the next three years, a KPMG report said. Some reports suggest that billions could be left jobless as technology changes the way companies work.
In the meantime, even non-tech industries are competing for workers with tech skill sets, Indeed said earlier this year. To create the workforces they need, employers may need to create a culture of continuous learning as well as push employees to take initiative to grow their skill sets.
While uneven access to training and upskilling poses a significant threat to some categories of workers, employees say they're ready and willing to grow and that it is the employers that are lagging. Nonprofit groups are working to help bridge the gap, with training that helps businesses grow their staff members. But a recent study found CEOs intend to spend more on tech than employee development in the coming three years.