In 2002, 56% of U.S. jobs required low amounts of digital skills, and 40% required medium skills. As of 2016, the tables have turned: high digital skills now comprise 23% of jobs. For enterprises, this has historically resulted in a steady churn of talent.
This is bound to have a profound effect on the inner workings of ad agencies and online marketing. A survey by Cognizant and the Economist Intelligence Unit found that 94% of respondents cited a moderate or severe digital skills gap. In India, for example, the industry body NASSCOM found that 40% of the country’s four million IT workforce will need reskilling in the coming years.
Digitization’s impact on business models is well documented; its impact on how enterprises must evolve talent management remains a work in progress. The scale of the challenge for enterprises was encapsulated by a World Economic Forum (WEF) report, which observed that in Organization for Economic Co-operation and Development (OECD) countries over one in four adults reported a mismatch in their current skills.
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