After the pandemic, businesses are facing a new challenge: the global skills shortage. Skills shortage also known as the skills gap is the difference between what the companies need and the skills employees possess. Even before the pandemic, businesses are already struggling with this and it became worse during the Great Resignation of 2021. Employers couldn't find people who had the skills they needed to fill roles.
Employers agree that the skills gap has widened since 2021. This reality contributes to the difficulties of hiring qualified candidates, with almost 90% of employers reporting challenges in getting the right people for the job.
Science, technology, engineering, and mathematics (STEM) industries are experiencing the most significant skills gap due to insufficient learning opportunities, According to a 2021 research of Comptia, organizations are looking for IT staff to fill the need for both interpersonal/soft skills and technical/hard skills. More than three-quarters (79%) of organizations are pursuing initiatives to address these gaps as competition over staff tightens. With this shortage, there is an estimated loss of $11.5 trillion in cumulative GDP growth for 14 G20 countries.
This is indeed a concern especially since businesses have reportedly ramped up digitization and automation investments as they bounce back from the pandemic. However, a movement called no-code development has been gaining traction. It democratizes app, website, and software development through visual programming. With no-code, non-professional programmers can start building and even professional coders can eliminate redundant coding for high-level tasks. Find out more about the skills gap and how no-code can be the long and short-term solution to this crisis.
According to the McKinsey Global Survey, 87% of respondents agree that they are already experiencing gaps now or are expecting them within a few years. Hiring new talent is also expensive with companies spending more than $800,000 annually looking for qualified talent. Here are some of the skills that companies are experiencing skills shortage:
As we discussed before in How will No-Code Fit an AI-Driven Company?, we discussed that many companies are doing hyperautomation and adopting AI-driven strategies to improve business performance. However, finding the right talent or retaining existing ones is turning out to be a challenge for more than 50% of IT companies. With the existing labor crunch, there has been a lag in the adoption of cloud computing and other digital technologies that is taking a toll on business operations.
As we mentioned, hiring new talent is challenging and costly nowadays. That is why businesses need to bridge the gap through the following strategies
No-code development is a critical tool in maximizing technology for automation and optimization within the organization. How will no-code shape the future of business and how can it help solve the shortage today?
With the ongoing STEM skill shortage compounded by the Great Resignation, many businesses are turning to low-code and even no-code to provide the solutions needed. No-code is slowly becoming the standard method for creating new internal applications and can be leveraged to create a digital ecosystem. Because of these factors, no-code is set to change software development in the near future.
Many businesses are turning to citizen developers in improving their processes as staff leaned through the crises. Citizen developers are those team members who are more knowledgeable in day-to-day business such as operations, sales, and HR. No-code allows these people to be able to utilize technology to tailor-fit what they need even with limited knowledge
We discussed the benefits of automation for a business and for employees in Easy Automation with No-Code in maximizing efficiency for the team. To recap here are some of the benefits of getting no-code automation:
No-code development also helps decongest the ticket load for the IT department so they can perform other tasks for the business. Even with a limited number of people, they can focus on bigger tasks such as cybersecurity, cloud computing, and other technology. On top of that, can also fuse no-code and coding for a hybrid development that can speed up the development cycle and apply more improvements to the system. We published a blog about it titled How Code, Low-Code and No-Code Works Better Together where we break down the benefits of fusing these three technologies that are usually pitted against each other.
With new technology coming into Web3 and even the metaverse, businesses now have the resource to tap into it with no-code. There are several platforms already that make this possible and with more training, more team members can be a part of it. Even no-code robotics are making a scene already that lets regular employees become citizen developers even with limited training.
Businesses are aiming for a pre-pandemic recovery for next year. The pandemic has taught customers and clients to utilize technology and adopt it in their regular lives. Businesses also saw the importance of digitization for improving business operations statistics. However, human skill is at the core of these investments which are becoming scarce. No-code development lets businesses utilize their in-house experts to become citizen developers so they can create the necessary tools. This shouldn't mean overworking the person but rather elevating their existing job with technology. No-code allows professionals to reduce redundant tasks and utilize knowledge in the right platform.
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