Demand for IT workers continues to grow
The demand for workers with IT skills, science and engineering backgrounds, and technological know-how, has never been greater, according to two reports released by the Organisation for Economic Co-operation and Development (OECD).
The reports provide an outline of the trends that will affect your industry, if you are part of the IT and technology sector, and by implication businesses that use IT services and technologies.
For any student looking to target a growth area, now is the time to figure out how to hone your skills for the industry you want to be part of.
The first OECD report deals with the global information technology (IT) industry, which the organisation says is expected to grow by six percent this year, slightly higher than last year. Looking ahead, the highest growth areas will be in Internet-related investments, Linux servers, digital storage, personal digital assistants and new portable consumer products, the OECD said.
“Open source (the ‘Linux’ effect), the online delivery of IT services (the ‘Google’ effect) and new digital products are also disrupting how technology is developed and delivered,” the report authors state.
Very key for Bermuda’s strategic positioning is the OECD’s advice that countries in the process of building up their international services supply are also improving the domestic capabilities and the competitiveness of their IT and software services suppliers.
“Firms and countries developing international services sourcing activities are aware that their future development and growth depend on the quality of services supplied, and information security and privacy, for example are attracting greater attention,” the OECD says.
With digital content becoming more important for games, music, scientific publishing and other information sectors, continuous improvements are being made in networks, software and hardware. This involves more mobile and wireless services, and content protection and delivery services, the OECD says.
Meanwhile businesses are demanding an increasing amount of workers with a variety of information communications technology (ICT) skills. In fact ICT skills are becoming more of a workplace requirement.
Up to five percent of total employment is in ICT specialist occupations. About 20 percent of the workforce needs such skills in ICT-using occupations.
In addition ICT skills are increasingly in demand for those with business or marketing expertise.
The developments coupled with increasing globalisation means that up to 20 percent of all employment could potentially affected by ICT-enabled offshoring, the OECD notes.
In the main, managerial and professional occupations will be less affected than clerical ones.
In the second report, released this week, the OECD focused on the relationship of science, technology and industries in producing innovative products and services.
The report notes that the IT industry continues to become more international as globalisation of the sector continues. Outsourcing is still focusing on India, while the industry sub-sector is booming.
Several years of economic growth have benefited investment in science, technology and innovation, the OECD noted.
In the main, the growth is also being fuelled by increasing amounts of research and development funds, and the increasing number of graduates emerging from universities with science degrees.
Those working in science and technology occupations represent 25 percent to 35 percent of total employment in OECD countries. Demand for HRST has never been higher, says the OECD, noting that employment in science and technology occupations grew twice as fast as overall employment between 1995 and 2004 in most member countries.
The nature of their work is evolving in both the business sector and public sector. For those working in the business sector, competition, globalisation and shorter product life cycles are changing how R&D is conducted.
During the 1990s many larger R&D-performing companies such as IBM, Lucent and Siemens reorganised their R&D activities and downsized corporate labs. The development of information and communication technologies (ICT) and the Internet ushered in an era in which research could be compartmentalised and carried out in multiple locations.
Firms are also increasingly adopting a more networked, open model of innovation that relies on partnerships and alliances as well as the acquisition of needed technology from a variety of sources, the OECD said.
Meanwhile, the expansion of the services sector and with it, knowledge-intensive services, such as banking, financial and business services, has also increased demand for graduates with science and technology backgrounds.
With the US Bureau of Labour Statistics estimating that scientific and engineering (S&E) occupations will increase by 26 percent in 2012 compared to 15 percent for all other occupations, so make sure your children get out those slide rules ... er ... super duper calculators.
