Monday, July 7, 2025
  • Home
  • About us
  • Privacy policy
  • Advertise with us
  • Contact us
Fii News Logo
No Result
View All Result
  • Tenders
  • Projects
  • Markets
  • Manufacturing
  • Investment
  • Technology
  • Exports
Newsletter
  • Tenders
  • Projects
  • Markets
  • Manufacturing
  • Investment
  • Technology
  • Exports
Fiinews
No Result
View All Result
Home Technology

Technology: 81% organizations face shortage of skilled tech workers, says report

Fiinews by Fiinews
May 7, 2023
in Technology
Reading Time: 4 mins read
A A
0
EY and iMocha

EY and iMocha report on skill shortage.

0
SHARES
10
VIEWS
LinkedinShare on Twitter

0:00

19% organizations have skill taxonomy, says EY-iMocha report

An overwhelming majority of 81% organizations are experiencing a shortage in skilled tech workers, and has acknowledged encountering a shortage in ‘power user or developer’ tech skills, says EY and iMocha in a report ‘Tech skills transformation – Navigating the future of work in 2025 and beyond’.

Merely 19% of the organizations reported having established a skill taxonomy, while 43% had conducted skill benchmarking at the employee level, according to the report released on 5 May 2023.

There is an estimated global tech talent pool of over 26 million people with 65% in software engineering roles followed by 27% in IT roles and 8% in business app related roles.

EY, the leading professional services organization, and iMocha, said the report is a comprehensive study on how technology skills are increasingly integrating across all job roles, beyond traditional IT roles.

The study assesses the topic from three lenses – in-demand tech skills across domains, the organizational impact of tech skills transformation and organizations’ response to tech skills transformation.

“Job roles and skill needs are changing faster than ever,” said Amit D Mishra, Founder and CEO, iMocha.

“In this report, we discovered 28% of the leaders believe they will have to revamp tech skills for a third of their talent base by 2025 to stay competitive. The adoption of skill taxonomy and benchmarking is a clear indicator that the increasing complexity of tech skills is necessitating leaders to reconstruct their talent acquisition, development and management strategies.”

Nonetheless, the shortage of future tech skills is expected to arise from the high demand for application developers and business app users, as indicated by 76% and 62% of the surveyed organizations, respectively.

The report highlights India’s standing as one of the top tech talent markets, with a market share of 16%, putting it on par with Europe’s 16% and the USA’s 20%.

Adding to it, Alpana Dutta, Partner, People Advisory Services, EY India, said, “It is clearly evident that technology skills are seen as valuable across job roles, functions, and industries. With the increasing usage of different tools, complexity of skill needed across various functional areas (software engineering, IT, and business application power user) is also increasing.

“Hence it is not surprising that 62% employers believe that 5-15% of their talent base will require skills transformation in the next 2-3 years, with 33% employers estimating that 15-35+% of their talent base will require this upgrade.

“For HR leaders, enabling tech skills transformation will necessitate taking a multi-disciplinary approach, with focus on developing granular, real-time intelligence into an organization’s skills inventory. We also expect to see increasing investment in skills intelligence platforms.”

The report’s findings are based on in-depth interviews with industry leaders from various sectors, ensuring that multiple industries were represented from across geographies like India, US, UK and EU. Respondents came from a range of industries, including independent software vendors (ISVs) (16%), IT/ITeS (41%), BFSI (29%), and Telecom (9%).

It was discovered that the ISV (Independent Software Vendor) and IT/ITeS (Information Technology enabled Services) industries prove to be the biggest tech talent incubators accounting for almost half (more than 47%) of the resources. Other major industries that incubate tech talent include BFSI (Banking Financial Services and Insurance) (10%), logistics and supply chain (8%) and telecom (5%).

The holistic nature of the surveyed organizations and the identification of key challenges clearly highlight that there is a steady and sector-agnostic shortage of adequate tech skills especially on the application development and usage fronts. 28% companies surveyed have opined that tech skills transformation of about 35% of their teams would become critical to retain competitive edge by 2025.

The report offers insights for HR leaders to evaluate their current HR tech stack and integrate skills intelligence tools as a critical component for business continuity. Skills intelligence enables dynamic and more accurate decision making and also underscores the role of power users.

These are users that need multi-disciplinary skill development across HR systems, data analytics, and program management skills alongside cross-functional knowhow.

EY exists to build a better working world, helping create long-term value for clients, people and society and build trust in the capital markets.

iMocha is a skills intelligence and assessment platform that enables talent leaders to make smarter talent decisions with its skills-first insights. 500+ organizations across 70+ countries trust the platform to acquire job-fit talent faster and to measure the ROI from their talent development initiatives. fiinews.com

Tags: EYiMocha
ShareTweetShare

Related Posts

MTI
Technology

Tech: TCS to be part of Singapore Smart Nation

by Fiinews
July 5, 2025
0
21

Minister highlights the importance of TCS Singapore is looking forward to more meaningful collaborations with Tata Consultancy Services (TCS) as...

Predictmedix
Technology

Tech: Predictmedix launches screening from India

by Fiinews
July 4, 2025
0
15

Canadian group to address critical gap in healthcare access Predictmedix AI Inc. (CSE: PMED | OTC: PMEDF | FRA: 3QP),...

Traton

Tech: TRATON selects LTTS as engineering partner

July 4, 2025
15
Equinor

Tech: Equinor selects HCLTech for expansion

July 4, 2025
15
Assetze

Tech: Assetze offers EOI for expansion in India

July 4, 2025
12
LTIMindtree

Tech: LTIMindtree offers GCC-as-a-Service

July 3, 2025
15
SBI YONO

POPULAR NEWS

  • Cristina Dnv

    Projects: Indian yards set to build green ships, says DNV expert

    0 shares
    Share 0 Tweet 0
  • Market: Indian-origin UGF scales heritage consumer brands globally

    0 shares
    Share 0 Tweet 0
  • Technologies: Royal Diamond sponsors aerspace Industries’ drones in UAE

    0 shares
    Share 0 Tweet 0
  • Investments: Foreign investors see India as long-term destination for fund placings

    0 shares
    Share 0 Tweet 0
  • Markets: Blue Dart maintains positive outlook on India

    0 shares
    Share 0 Tweet 0

Fiinews.com features through news articles on business opportunities in the Indian market for the benefits of foreigners. It is also a platform for international businesses to showcase through elaborate articles on their products & services to the Indian consumers and corporations exploiting industrialisation of the country.

7Clicks Media is a Singapore based Media & PR company offering over 100,000
impressions via our targeted communication strategy.

It is led by editor-in-chief Gurdip Singh who has worked over 45 years reporting on
Asian businesses.

Recent News

  • Market: China steel imports down 47.7% in Apr-May
  • Export: India to ship non-GMO soybean to EU
  • Tender: Take care of new urban development
  • Manufacturing: Framework on Drones by Sep-Oct
  • Project: Joint maritime professionals launched

Pages

  • About US
  • ADVERTISE ON FIINEWS.COM
  • CONTACT US
  • EVENTS
  • FII-NEWS.COM PDF ARCHIVE
  • Home
  • News
  • PRIVACY POLICY

Subscribe to Newsletter

  • About
  • Advertise
  • Careers
  • Contact us

© 2024 FIINEWS - Design and developed by 7clicksmedia.

No Result
View All Result
  • Tenders
  • Projects
  • Markets
  • Manufacturing
  • Investment
  • Technology
  • Exports

© 2024 FIINEWS - Design and developed by 7clicksmedia.