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Three Stats You Must Know from the Talent Transformation Global Impact Report

There is a massive talent shortage problem now, with an all-time high demand for digital talent. It’s predicted to only get bigger: 85 million jobs will be unfilled by 2030, resulting in a global talent shortage as demand for skilled workers outstrips supply. Enterprises that are not preparing a successful digital talent strategy now, may not exist in that future.

That begs the question: Are you making the right investments in your digital talent strategy?

The Talent Transformation Global Impact Report surveyed 2,000 managers and 4,000 employees to take a deep dive into the current state of the global workforce and sheds light on how organizations are being forced to evolve in an increasingly tech-dependent economy. Among many other findings we discovered that digital transformation is stagnating due to shortages in job-ready talent. Enterprises that do not take talent transformation seriously are likely to fall behind.

The report is packed full of information and statistics that every forward-thinking business should consider as they formulate and evaluate their digital talent strategy. Here are just three interesting stats, but you can also get the full report here.

59% of enterprises have experienced a negative impact to their business due to talent gaps.

Let’s just lay it out: if your company is not actively working on or preparing for digital transformation, the chances of making it through the next decade are slim. The greatest threat to these efforts? Talent shortage, according to Gartner. And our survey found over half of enterprises have already experienced a negative impact due to the talent shortage. 

The companies that are leading the way in digital transformation already know that they need to strategically invest in digital talent now, to prepare for the future. So, If your company doesn’t already have a digital talent strategy, it’s time to start ringing the bells. Don’t let it be too late and join this group: 52% of Fortune 500 companies became obsolete due to digital disruption since 2002. 

56% of enterprises are having difficulty hiring new employees with the level of experience needed.

The most successful digital talent strategies go beyond trying to hire new top talent. Not only is the demand for digital talent at an all time high, companies are finding themselves competing with not only their industry peers but with everyone else. It’s getting more difficult and more expensive to hire the digital talent that is needed.

That is why it is so crucial that your digital talent strategy also includes digital talent transformation: investing in current talent to become digital talent. The benefits to digital talent transformation are many: more cost-effective than hiring new talent, increases employee morale, improves retention, and more. Make sure your digital talent strategy is transformative to reap the benefits. 

80% of enterprises think their L&D  programs are successful BUT only 45% of employees are satisfied with their L&D programs. 

Companies who already have an L&D program are not exempt from the original question: Are you making the right investments in your digital talent strategy?

Our survey made the very interesting discovery that there is a glaring disconnect between employers and employees when it comes to the success of their L&D programs. Enterprises think they are doing better than how their employees are perceiving them. If employees are not satisfied with their L&D offerings, then that raises another question: What is the value of those L&D programs? 

Our Talent Transformation Global Impact Report reveals that it’s past time for a new digital talent strategy. Current learning and development efforts aren’t cutting it—putting enterprises face‑to‑face with business failure.

Download the report today!

The best way to make sure you’re making the right investments in digital talent strategy is to partner with the leader in digital talent transformation: Udacity. Trusted by the world’s leading brands, Udacity changes lives, businesses, and nations by creating job-ready talent at scale. Learn more about Udacity and how this partnership can help your organization here.