The following trends will likely drive demand for skilled talent over the coming years. In a post-pandemic world defined by production challenges and political unrest, people continue to focus on digital solutions capable of shifting traditional models of distribution. These emerging trends lie at the intersection of data and employment:
Lifestyle and skills reappraisal
The great attrition of 2021 saw employees resigning in record numbers. While this trend continues in many markets, it has shifted its focus somewhat towards reappraisal and renegotiation. Employment numbers are healthy, with a fundamental mismatch between the demand for talent and the people supplying it.
41% of Australian workers and 40% of global workers say they might leave their jobs in the near future.
Technology has a huge role to play in this brave new world, as data skills and remote work arrangements enable fluid movements between locations and industry sectors.
Digital demand and distribution
The redistribution of banking continues to divorce traditional financial channels. Digital solutions remain resilient in the face of change, and emerging digital-physical hybrids offer a viable alternative solution. The global pandemic has accelerated a permanent channel shift, making data skills more in demand than ever.
In 2021, over 40% of core retail banking sales originated in the digital sphere, in an environment where total sales dropped by 10%, and digital sales rose 4%. This highlights the resilient nature of digital resources in tough economic climates.
As digital banking grows and data-led solutions overflow into other financial services, professionals with data skills will likely remain in high demand.
Alternative investment models
The wealth management industry faces altered priorities, with new delivery methods, offerings, and economic models requiring a new skills base. While the traditional longing for capital efficiency and recurring revenue is even more pronounced, technology plays a bigger role in achieving these things.
Customer demand for wealth management is expected to surge by $254 billion by 2030, which is double the revenue from 2021.
With ESG (environmental, social, and governance), private, and digital investments increasingly desired by new and existing customers, data expertise will retain its immense value in the years ahead.
Safety and security
As technology evolves to meet the demands of the brave new world, security remains a key concern. Moreover, the current global political landscape is accelerating existing trends, with the invasion of Ukraine and tensions with China increasing challenges and driving cybersecurity investment.
Cybercrime is expected to cost the world an estimated USD$10.5 trillion by 2025, a number that has grown from just USD$3 trillion in 2015. This highlights a growing need for digital security employment, which is relevant to fintech and most other industry sectors.
Cybercrime is a huge concern for banks and financial services organisations trying to protect customer data. The rate of demand has increased and so has the expectation on candidates skillsets.
We have seen huge demand across our Australian client base in all of the above areas and have further research to provide. Should you wish to find out more, please message us at email@example.com or firstname.lastname@example.org