When it comes to developing business strategies and formulating detailed financial models, almost all global business executives would say they are experts. But, too often, these “experts” still forget to plan for their most important asset — their people.
Times are changing, and relying on yesterday’s skills can no longer ensure that companies maintain their competitive advantages.
Companies need to plan for the Fourth Industrial Revolution that we are now entering, where digital skills will be a prerequisite for success.
Given the aforementioned increased rate of digital change and the effects those changes are having on many organizations’ business and people strategies, we wanted to explore what companies are doing to source, retain, attract and reward three of these business:
IT IS A GOOD TIME TO BE A DATA SCIENTIST, CLOUD OR CYBER ENGINEER!
- Cloud engineers
- Cyber engineers
- Data scientists.
How do we know this?
Our findings reinforce commonly held beliefs regarding these positions, that the demand for these talents far exceeds the supply. When comparing the voluntary turnover rates and tenure rates for these positions with the rates for “all job” functions and “other R&D” functions in general, we see in Figure 1 that the voluntary turnover and tenure rates are considerably lower for these positions. In other words, it is far more likely that an organization loses a data scientist or cyber engineer than other engineers during the next 12 months. In addition, low tenure rates indicate that digital talent is a different breed, aiming for new challenges in shorter time periods than other groups of employees.
If you want to know more about rewarding, retaining and sourcing this talent contact us at email@example.com