Study: IT job growth is 8x that of all other job types
- IT jobs are growing eight times faster than all other jobs, according to a new study from the Massachusetts Institute of Technology (MIT) and the University of British Columbia (UBC). The slowdown in employment and wage gains that affect most jobs has not impacted IT careers, the survey found. Researchers said IT and IT-intensive tasks in areas like big data, computer software and cybersecurity provide workers with long-term financial security.
- MIT and UBC researchers said that the share of IT-intensive occupations increased significantly during the past two decades, with a growth of 19.5% between 2004 and 2017. Less IT-intensive occupations grew by just 2.4% during the same period.
- Researchers also said that although traditional manufacturing jobs declined due to automation and off-shoring, IT-intensive manufacturing jobs increased, along with productivity.
Digitization is driving growth in the number of jobs relying on tech skills, a trend that expanded significantly between 2000 and 2016, according to a Brookings Institution study. The study predicted that U.S. jobs across nearly every category will require some tech-based knowledge in the near future.
While HR leaders recognize the impact a digital conversion would have on their organizations, many say they lack the resources needed to make the change happen. Companies behind in digital transformation might find themselves even more hindered by that than the skills gap when it comes to talent acquisition.
Experts say it's critical that companies invest in the upfront costs of digitization for the benefit of creating a digitized workforce for the long-term.
With nearly every job category requiring some tech skills and knowledge, the talent employers recruit may not have all the qualifications needed. This means that organizations may find that upskilling is necessary, either through formal classroom training, structured apprenticeships or informal on-the-job learning.
Results from a Boston Consulting Group study concluded that employers also might need to develop a digital culture to prepare the workforce for a transformation. HR professionals, as the overseers of human capital management, have the skills and expertise to build such a culture in preparing workers for digital transformation and leading their organizations in the change.
- University of British Columbia INFORMATION TECHNOLOGY JOBS OUTPACE MOST OTHER JOBS IN PRODUCTIVITY AND GROWTH SINCE 2004: UBC-MIT STUDY