Lack of Skilled Workforce Tops List of Employer’s Concerns Worldwide – Deloitte

CEOs around the globe now rank labor and skills shortages as the number one issue influencing or disrupting their business strategy. This was shared by Nicole Scoble-Williams, a Partner and Asia Pacific Future of Work Leader for Deloitte as key resource speaker during the launch of TechTrends last month.

The Department of Information and Communications Technology (DICT) through its ICT Industry Development Bureau (IIDB) officially launched Tech Trends, an awareness program on disruptive innovations and emerging technologies last April 28, 2022 via a virtual program.

Scoble-Williams, as one of speakers, discussed the current global technological situation as well as the future of work post-pandemic—including technological trends in relevant regions, humanizing the future of work, and the strategical advantages of flexible work arrangements. Here are some salient points of her presentation:

International Work Trends (Source: Deloitte TechTrends 2022)

  • 40% of the global workforce is considering living their employer
  • 73% are more likely to stay if their employer will support remote working moving forward
  • 80% of job losses around the globe during the pandemic have been jobs lost to the lowest quarter of wage earners
  • 70% of employers are struggling to find workers with the right mix of technical skills and human capabilities
  • 58% of employers say their workforce is undergoing significant skills transformation due to the scale and velocity of digital transformation efforts
  • 70% of global data and analytics decision makers are expanding their ability to use external data.
  • 74% who modernize their information technology back office to a product protect proactive model of self service and engineered automation say their work, force is more efficient with 59 percent identifying a cost reduction of up to 30%. The vast majority of enterprise computing moves to hyperscalers the world data is consolidating via cloud providers into a handful of physical data centers, 
  • 640 billion U.S. dollars in the next five years Deloitte predicts that industry cloud market could reach $640 billion. 
  • 80% of industries will see new revenue streams from blockchain digital assets and crypto currency solutions.
  • More than $19 billion in increased spending augmenting cybersecurity teams with cyber AI between 2021 to 2025 as more than 3 million cybersecurity professionals, are needed to fill in the gaps

Work trends in the Philippines (Source: Deloitte TechTrends 2022)

  • 45% of workers are considering leaving their employer
  • 89% of BPO jobs at risk of automation, 86% construction, 81% for the electrical and electronics sector and 68% for the hospitality industry
  • 176% increase in voluntary resignation across all industries
  • Less than 40% of the workforce will require reskilling and upskilling as industries embrace automation
  • With the 4th industrial revolution, 74% of job losses were among sectors such as accommodation and food, manufacturing other services and transport
  • 1.4 times women are 1.4 times more likely to lose their jobs compared to men

DICT Acting Secretary Emmanuel “Manny” Ray Caintic, Undersecretary for Digital Philippines Maria Victoria Castro, and ICT Industry Development Bureau (IIDB) Director Emmy Lou Delfin attended the event. In his keynote speech, Secretary Caintic discussed the importance of establishing platforms of information exchange such as Tech Trends to help raise awareness and encourage discussions on the development of the ICT industry.

“For this year, I would like to commend the IIDB for coming up with a project that aims to offer the public free and accessible sources of information, inspiration, and encouragement to participate in the ICT industry events through the conduct of a regular webinar series called Tech Trends,” Chief Caintic stated.

“This project is especially designed for self-driven and motivated individuals and teams who are interested to know about innovations and emerging ICTs. We are eager to provide you with relevant knowledge and skills to prepare you for jobs and opportunities in the Philippine ICT industry,” he added.

The Tech Trends project is comprised of seven (7) tracks that the participants can freely choose from, namely: Data Analytics, Internet of Things (IoT), Blockchain, Artificial Intelligence, Cybersecurity, Cloud Computing, and the Gig Economy.

“Echoing Secretary Caintic’s words, individuals and organizations need to constantly gain an understanding of such technological disruptions, trends, challenges, and opportunities so that they can make better decisions for their careers, businesses, and institutions. With this, we will continue to develop programs such as Tech Trends, to provide opportunities for you to improve your technical skills and knowledge, and maximize your potential in the field,” Director Delfin asserted.

The DICT’s partners—Asia IoT Business Platform (AIBP), Analytics Association of the Philippines (AAP), Microsoft, Women in Blockchain, Amazon Web Services (AWS), Payoneer, Senti Ai, and Digital Pilipinas, National ICT Confederation of the Philippines (NICP), Philippine Society of IT Educators (PSITE), Chief Information Officers Forum Foundation Inc. (CIOFF), Chief Information Officers Forum, Inc. (CIOF), and Filipina Homebased Moms (FHMoms)—also delivered their messages of support, highlighting how the program can help achieve the goals of their respective organizations. (With main article from DICT Communications Team)

Atty. Jocelle Batapa-Sigue, consultant of IIDB-DICT was the program’s masters of ceremony

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