IT leaders should not underplay the impact of the IT skills gap. Over 90% of organizations worldwide will feel the pain of the gap by 2026, amounting to $5.5 trillion in losses.
The widening IT skills gap presents significant challenges, reverberating through organizations with poor ROI, lower employee morale, slow projects and out-of-reach business objectives. Most organizations can expect $5 trillion in losses from a lack of skills by 2026, according to IDC’s “Enterprise Resilience: IT Skilling Strategies, 2024” report.
Talent is out there, but it isn’t easy to acquire.
“As IT skills shortages widen and the arrival of new technology accelerates, enterprises must find creative ways to hire, train, upskill and reskill their employees. A culture of learning is the single best way to get there,” said Gina Smith, Ph.D., research director for IDC’s IT skills for digital business practice, as part of a 2024 report on IT skilling strategies.
The most popular way to close the skills gap is to train — or upskill — existing employees. And the number of organizations that plan to provide this training option is rising, from 59% in 2024 to 66% in 2025, according to CompTIA’s report on the IT industry outlook for 2025.
Organizations can save money by investing in talent development. Upskilling reduces hiring and recruitment expenses and decreases reliance on external contractors. Employees recognize the value of training. Feedback from Skillsoft’s “IT Skills and Salary Report” indicates there are improvements in work quality, engagement and speed that can result in pay awards and promotions.
See how upskilling can help your company succeed.
Kathleen Casey is the site editor for SearchCloudComputing. She plans and oversees the site, and covers various cloud subjects including infrastructure management, development and security.
