How Digital Skills Can Lead to Job Security this 2024
By Lumify Learn Team | July 22, 2024
While Australia is the home of innovative tech companies like Afterpay, Atlassian, and Canva, the country's still got much to do in terms of bridging the digital skills gap. As a result of rapid technological advancements and the digital transformation of businesses, demand for digital skills and talent has skyrocketed.
As such, the world of ICT is often seen as field of great opportunity, high-paying roles, and exciting, constant developments; granting professionals the job security they need as we stride towards an ever-digital future.
In this blog, we will break down the ways digital skills can offer you job security this 2024, and how Lumify Learn’s ICT courses can help.
The World is Growing Reliant on Tech More Than Ever
With more industries increasingly adapting to the digital age, technical skills are set to become a mandatory workforce staple. Reports show that Australia’s current jobs are predicted to shrink by 11% (around 1.5 million workers) by 2030. This shift is largely driven by advancements in artificial intelligence (AI) and automation.
Those in the finance, accounting, and procurement sectors, whose jobs rely on highly repetitive tasks, are expected to be most at risk. As such, these professionals are highly encouraged to build, refine, or upgrade their digital skillsets for a stable, profitable, and future-proof career path. The “digital elites”, or those with sought-after technical skills, are expected to grow by 47% by 2026, which equates to 420,000 additional workers.
The National Skills Commission continues to emphasise the importance of digital and data skills for career progression and job transitions. In fact, a report by the commission found that these two skills are what employers look for the most in their workforce.
According to ACS Australia's Digital Pulse report, over 1.2 million people are expected to be working in the IT sector, with an average yearly growth rate of 5.5%. Unfortunately, workers today continue to hold in-demand digital skills such as database management, cyber security and data science (among others) at a mere beginner’s skill level, and demand for such talent continues to outpace those available on the job market.
Specialty Digital Skills are Growing In Demand
As mentioned, those with specific digital skills are set to experience further demand in the coming years. Such areas of growth include the rising sectors of AI and machine learning, blockchain, cloud computing, cyber security, big data, and process automation.
Technical skillsets in ICT have been in consistently high demand over the past decade; with programming and software development one of the most sought-after, along with computer networking, data analysis, digital design, and marketing. it's also a good idea for professionals to familiarise themselves with the social media landscape – of which platforms like TikTok and Instagram are now increasingly used among businesses and average citizens.
Aside from this, cloud-related technologies are also predicted to make up 37% of digital transformation spending by 2026 – a 10% rise from 2021. Over half of the nation’s enterprises also deem cloud environments as a significant part of their digital transformation strategies.
To keep up with these growing demands, professionals must upskill for an increasingly digital era. Online training opportunities are now available for individuals to build their skills from the comfort of their own home – such as those provided by Lumify Learn. Aspiring or current IT experts can easily take up courses in sought-after areas of cyber security, cloud computing, data science, and more; and flexibly build their industry credentials at a time, place, and pace that suits them best.
Digital Skills are Known to Boost Salary Potential
With digital skillsets in high demand, it’s no surprise those who hold them often enjoy higher salaries. Based on recent RMIT Online research, those with digital skills commanded 9% wage premium, which is equal to an extra $7,700 a year.
As companies navigate a tight labor market, they're increasingly seeking talents with in-demand skillsets. With a limited pool of talent to fulfill this need, companies are willing to increase salary offers or provide upskilling opportunities to bridge the ever-growing skills gap. Re-training employees can also reassure them that their efforts are valued, their skills are invested in, and that employers care about their professional development.
While most roles value basic digital skills in job-relevant software (i.e. Microsoft Office tools for the average office worker, social media for marketers), the ability to assess and analyse data is also a highly sought-after skill. Every job, regardless of industry, will likely deal with numerical data at one point or another – and those with the ability to interpret such information in meaningful ways can bring great value to the business.
The Australian Government is Committed to Funding Digital Skills
Finally, it’s also worth noting that the Australian government has made efforts to fund and further the country’s ongoing effort towards building our digital skills. This involves millions of dollars committed to expanding the online selection of digital training courses and deliver work-based learning opportunities.
Such targeted sectors include cyber security and AI. The government has committed $43.8 million for the Expansion of Cyber Security Skills Partnership Innovation Fund, an initiative dedicated to improving both the number and quality of cyber security professionals in Australia.
On top of this, another $24.7 million over six years is allocated to the Next Generation Artificial Intelligence (AI) Graduates Program. This initiatives aims to help attract and train local AI specialists through scholarship opportunities.
Moreover, the government plans to support more female professionals in building and leveraging their digital skills, helping them pursue a mid-career transition into the tech field. This includes an online platform offering useful resources to support their transition, along with coaching and mentoring services.
Looking to Amplify Your Digital Skills?
With such a growing need for IT skills, it’s not surprising that they’re often cited as the key to future job security. Both local and global technology are on the rapid incline and show no signs of slowing down, so it’s best to equip yourself against rising workforce competition.
As mentioned, Lumify Learn currently offers a wide selection of online training courses across Australia’s most demanded ICT sectors:
We provide nationally and globally-recognised qualifications, so you can build your skills for a digital future. Our courses are conducted online by our expert trainers and mentors, allowing you to schedule your studies around your personal and professional commitments. And once you complete your course, you can join our Lumify Edge program that will help you develop your professional brand and access job listings from our partners.
Progress your career or snag your dream tech job today, and enquire with us on a course.