Ready, set, upskill: Fast track growth with digital skills

Hi I'm Claire Hopkins from RMIT Online. This year we launched our latest research report Ready Set Upskill: Fast track growth with digital skills. This report provides fresh insights into the impact of key disruptions on skill sets and talent shortages across Australia's occupational landscape.

John O’Mahoney from Deloitte Access Economics is going to take us through some of the key findings of the report and what it means for employees and businesses alike.

The most in demand skills coming out of the pandemic in Australia will be data analytics and visualization skills. Their skills that help bring information to life and help businesses make decisions so that they can succeed. Digital skills will help all workers in the Australian economy. It's not just professionals and people in offices who need digital skills, it's also tradies, nurses, it's also for people in social assistance industries, as well so digital skills are very applicable to lots of occupations across the economy.

Digital skills bring a wage premium. The research shows it's about an extra nine percent in salary each year, uh on average equal to seven thousand seven hundred dollars per year. That's a big benefit for workers.

What the job advertisement data shows, is just what employers are willing to offer to try to retain and attract the best talent. It's professional development opportunities, it's attractive salaries, but it's also more flexible working arrangements. We've seen a big jump in the number of job advertisements which are offering hybrid and flexible working strategies to try to make sure that their employees are happy as well.

An important way for businesses to address their digital skills needs, is to upskill their current staff. Even with short courses that might run from six weeks to six months, they can transform their current workforce from what they're doing at the moment, to what they need to be doing in the future. It's a big opportunity for Australian businesses.

The report finds that businesses are not spending enough on training their current workforce. Investing more in recruitment and trying to attract more staff than what they can in just building the digital skills of their current workforcre. This can future-proof their business for down the track.