The Demand for IT Skills Intensifying Across Australia
The number of available jobs advertised is on the rise, according to Seek, a global job marketplace prominent in both Australia and New Zealand. The data shows an increase of 14.7% in job ad number in January 2018 compared to 12 months ago.
Overall, the nation is seeing a strong demand for STEM skills (Science, Technology, Engineering, and Mathematics) which reflects a global talent shortage, says Seek ANZ managing director Kendra Banks. “This talent shortage has been identified by Australian CEOs as one of their top business risk areas,” adds Banks.
A recent report from the Australian Computer Society (ACS) and Deloitte confirms the widening skills gap, with an extra 200,000 tech workers needed in the next five years, but with still fewer than 5000 local graduates with ICT degrees each year.
The digital economy will be worth $139 billion a year by 2020, but its growth is being impeded by a worsening skills shortage.
The report found the information and communication technology sector increasing its importance to the country's GDP, shifting from 5.1% 2014 to a forecast 7% in 2020. Industry experts agree that technology companies have the potential to become the engine of the local economy, with demand for skills driving up jobs growth in the sector by 2% per annum, almost double the rate of the overall workforce.
LinkedIn data included in the report indicated that the most in-demand roles in the past year were ICT project managers, business analysts and business development managers. The report also predicted there would be a 2.4% growth per annum in ICT management and operations roles and a 1.9% growth each year in ICT technical and professional workers. However, without the requisite skills to feed the growing demand, Australia could miss out on the benefits of the shifting focus of the global economy.
A significant number of Aussie companies opt to outsource some of their business processes to Asian countries like Vietnam, Thailand, Indonesia, India and China to obtain a suitable workforce, and, at the same time,save on costs. However, the Philippines remains the first choice for many, including prominent Australian companies such as ANZ, Jetstar, Salmat, Telstra, and Macquarie.
The literacy rate in the Philippines is an astounding 97%. This number is expected to increase with the country recently adopting the K-12 program which is patterned after the education system in the United States and parts of Australia. Even better news for the Australian tech industry, the Philippines churns out roughly 77,000 Information and Technology graduates and 76,000 Engineering and Technology graduates every year.
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