IT Skills Gap Is Slowing Global Economic Growth

A lack of critical IT skills is actually slowing the growth of the global economy, a new study from IT and professional training services Global Knowledge suggests.

Global Knowledge’s 11th annual IT Skills and Salary Report was based on responses from 16,000 IT professionals from around the world.

The report highlights a worrying skills gap that respondents say is having a negative impact on business growth and leaving organizations at risk of cyberattacks.

A Lack of IT Skills Causes Market Development Delays, Slower Deployment of Projects

It indicates that 70% of the global industry faces a shortage of necessary IT skills (rising to 75% in North America), resulting in product and market development delays and the slow deployment of critical projects, project failures, and higher employee stress.

Organizations around the world cite challenges in acquiring the skills necessary to ensure cybersecurity or adopt critical technologies, including cloud computing, artificial intelligence and blockchain.

The silver lining is that the demand for qualified IT professionals is driving significant salary growth in the sector, with the average salary difference between certified and non-certified IT professionals rising to 22% in North America, equivalent to nearly $16,000 annually.

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