The Skilled Labor Shortage in the Digital Industry – Status Quo and Consequences

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suchona.kani.z
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The Skilled Labor Shortage in the Digital Industry – Status Quo and Consequences

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Structural upheavals and basic innovations have the power to trigger long-term changes in all areas of life. In recent years, digitalization has shown us how quickly and comprehensively this change can take place in the economy and society. The transformation is far from complete: the tried and tested is still being tested and is constantly being replaced by the new. The disruption is therefore still in full swing and is being further fueled by additional challenges such as climate change and demographics.

But change itself cannot be taken for granted. A successful transformation requires the ability to adapt quickly to dynamic environmental conditions and places high demands on the ability to innovate. This applies to both companies and the economy. Accordingly, the development of digital competence is inherent for companies and of particular importance philippines consumer email list for international competitiveness. With inventiveness,


willingness to take risks and the appropriate (human) capital, it should be possible to master this change successfully. Actually! But the reality is different. The lack of the scarcest ingredient represents an obstacle: the shortage of skilled workers in the digital industry.

Status quo – the key drivers of transformation
According to the German Economic Institute, four major changes are disrupting the business model of the German economy and pose challenges that need to be solved (4D): digitization , decarbonization , demographics and deglobalization . A look at the terminology makes the virulence of the skilled labor shortage clearer.

digitization
Data-driven, digital business models are becoming increasingly important for the economy. Their implementation requires a high level of digital competence and specialist knowledge in order to offer marketable and benefit-oriented solutions. The lack of suitable specialists is a major obstacle, especially for small and medium-sized companies - that is around 99.4% of companies in Germany.

According to forecasts by the German Economic Institute, 40% of German companies expect an increasing need for IT experts and 54% for IT specialists in the next five years. Among innovative companies, 52% even expect an increasing need for IT expertise and 66% for IT specialists.
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