By Adam Turner
Faced with skills shortages in leading roles in information and communication technologies (ICT), Australians’ zest for lifelong learning will be put to the test as the nation looks to build the high-tech workforce necessary to underpin a 21st century economy.
Australia ranks among the world’s top five countries for severe skills shortages, according to a report from the global recruitment agency Hays, ranking fourth globally for talent deficits, particularly in sectors such as technology, banking, financial services and insurance, and manufacturing.
Cloud computing, cybersecurity, app development, artificial intelligence (AI) and big data are areas where skills shortages are most acute, reports the Australian Information Industry Association (AIIA).
Simon Bush, CEO of the Australian Information Industry Association (AIIA).Credit: Alex Ellinghausen
Retraining the existing workforce and upskilling in new and emerging technologies have been critical in trying to meet the demands of the ICT sector, given the broader labour market simply does not have the necessary skills available in the numbers required.
But the hunger for ICT skills is being exacerbated by the need for digital literacy across the entire economy, with technology shaping a wide range of traditional roles and creating new ones across all sectors.
A strategic approach is needed, focusing on reskilling mid-career professionals, implementing digital apprenticeship schemes and embracing flexible education models such as VET and stackable micro-credentials, according to AIIA CEO Simon Bush.
Failing to address this skills gap could lead to higher operational costs, slower technological adoption and reduced global competitiveness, Bush warns.
“Australia has a digital economy, with 80 per cent of jobs requiring some sort of tech literacy and with more than 50 per cent of technology jobs outside the traditional tech sector,” he says.
“To ensure we can take advantage of transformation technologies such as AI, Australia needs the skills to match to ensure we remain productive and drive GDP growth across every sector of the economy.“
These digital skills shortages threaten to see Australia left behind in the high-tech 21st century global economy.
Relying on new graduates and skilled migration won’t be enough to meet the challenge, according to experts; it also requires the existing workforce to embrace the ethos of lifelong learning, which recognises that people continue to acquire knowledge and skills throughout their lives, not just during their initial formal education.
Australians have little choice but to embrace the notion. By 2030, 11.2 million workers will need reskilling because new technology will impact at least 20 per cent of work time, according to the Australian Computer Society (ACS).
Chris Sharp, CEO of Pax8 APAC.
In an industry that evolves as quickly as technology, continuous education is not just an advantage, it’s a necessity, says Chris Sharp, the CEO of Pax8 APAC, a born-in-the-cloud marketplace that connects small and medium businesses with enterprise-grade IT and cybersecurity solutions.
Pax8 provides clients with a team of experts and coaches for on-demand learning, instructor-led courses, peer groups and business coaching. As such, it is essential that the business prioritises continuing education within its own ranks, Sharp says.
“Investing in upskilling and continuing education isn’t just about staying ahead of technological shifts – it’s about empowering our workforce to think critically, innovate, solve problems faster and adapt to new challenges with agility,” he says.
“The benefits of creating an environment within an organisation where ongoing learning is celebrated is a benefit not just to the company itself, but also to the individual employees able to build and develop new skillsets and qualifications and contribute to the industry as a whole as we work to tackle the IT skills crisis.“
Along with on-the-job training, lifelong learners can take advantage of short courses, graduate certificates, graduate diplomas, masters and MBAs to acquire new skills and knowledge, as well as elevate their thinking to meet the challenges that lie ahead.
On a personal basis, the pay-off is a competitive edge in the jobs market, with higher-level qualifications generally leading to improved salary and employment outcomes.
In 2023, the median salary for undergraduates was $71,000, marking a 4.4 per cent increase on 2022,
according to the 2023 Graduate Outcomes Survey conducted for the Department of Education.
Meanwhile, postgraduate coursework graduates earned a median salary of $96,600, a 5.5 per cent increase from the previous year. Postgraduate research graduates saw their median salary rise by 4.2 per cent to $100,000.
When it comes to technology, specialist skills pay the bills. For example, AI specialists attract on average a 31 per cent higher salary than non-AI workers, according to figures from employment marketplace Seek.
With the ICT skills shortage casting a shadow over Australia’s economic fortunes, lifelong learning offers Australians the opportunity to reskill and embrace change in order to thrive in an evolving high-tech economy.
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