59% of employers report that not having enough skilled employees has a major or moderate impact on their business
Udacity and Ipsos partnered to gauge employer and employee perspectives on talent transformation across industries, age, and region
MOUNTAIN VIEW, Calif., – Digital talent transformation platform Udacity, together with leading independent market research company Ipsos, today announced the findings of the Talent Transformation Global Impact Report survey. More than 2,000 managers, and more than 4,000 employees were surveyed across the US, UK, France, and Germany. The findings reveal that digital transformation is stalling due to lack of job-ready digital talent, and enterprises don’t have a way to access the talent they need to deliver on digital initiatives because hiring is difficult and retention is low. In addition, the global COVID-19 pandemic has exacerbated these challenges as the need for skilled employees has only increased in order to prevent business disruption and keep pace with technical innovation.
“The talent shortage has reached a crisis pitch,” said Gabe Dalporto, CEO, Udacity. “If companies do not invest in talent transformation, they are destined to fail. The lack of job-ready digital talent has become an existential threat to businesses around the world.”
The study revealed that:
Digital transformation is stalling due to lack of job-ready digital talent. Research shows that 59% of employers report that not having enough skilled employees has a major or moderate impact on their business; France and Germany are slightly more likely to say so than the US and UK. In addition, 50% of employers report that digital transformation initiatives are held back due to lack of employee adoption or engagement.
Employers are deluding themselves about the effectiveness of existing Learning and Development programs. Unfortunately, a serious disconnect exists between enterprise and employees across existing Learning and Development programs. Among employers who offer learning and development programs, the majority (80%) classify them as at least moderately successful. On the other hand, among employees with access to these learning and development opportunities, less than half say they are completely or very satisfied with the programs (45%).
Job-ready digital talent is more important than ever. Job-ready digital talent is most important to enterprises to enable digital transformation within the enterprise, meet innovation goals, increase retention, and increase employee job satisfaction and happiness. For example, 44% of employers report that employee turnover is hindering the company’s ability to achieve goals.
Younger employees across regions expect employers to pay for talent transformation initiatives. In all countries, a majority of younger people aged 18 – 49 believe their employers should invest in their future by providing skill training. In Germany, 69% of people aged 18 – 29 hold these expectations.
“Employees and employers are in agreement that companies have a responsibility to invest in the future of their employees,” said Christopher Moessner, Senior Vice President at Ipsos. “This research executed by Ipsos is a wake-up call for enterprises to invest in talent transformation or risk falling behind. It’s a win-win for employees who desire the most in-demand tech roles and for employers who are not able to hire the right people to meet current and future demand.”
Methodology
Udacity partnered with Ipsos to conduct two online surveys between August 29 – September 26, 2021. The two surveys were defined as:
a sample of 2,008 employed adults working in managerial roles or higher from the U.S. (502), the U.K. (502), France (502), and Germany (502), across various industries, in English, French, and German
a sample of 4,006 general population adults aged 18+ — with nationally representative subsamples in the U.S. (1,002), the U.K. (1,004), France (1,000), and Germany (1,000), in English, French, and German
To access the full report visit: Talent Transformation Global Impact Report.
About Udacity
Udacity changes lives, businesses, and nations through radical talent transformation in digital technologies. Udacity’s global, online talent transformation platform focuses on in-demand digital technologies, mentor support, and project-based learning taught by industry experts. Programs include real world content for job-ready competencies in artificial intelligence, machine learning, data science, autonomous systems, cloud computing, among other disciplines. Udacity has more than 100 enterprise customers including Airbus, Bertelsmann, BNP Paribas, Leidos, Mazda, and the United States Air Force. Udacity collaborates with more than 200 global industry partners including Google, Facebook, Mercedes-Benz, and NVIDIA to power technical education. Headquartered in Mountain View, Calif., the private company has operations in the United Kingdom, Egypt, Germany, India, and the United Arab Emirates. Udacity has raised $163 million in funding to date from investors including Bertelsmann, Andreessen Horowitz, Charles River Ventures, and Drive Capital. For more information, please visit www.udacity.com.
SOURCE: Udacity