Posted on 27/06/2017 by Jay Banghar
My name is Jay Banghar. To introduce myself, I have worked as a Technology recruiter since 2004. I am the founder and MD of SearchElect. We are a specialist Technology recruitment agency based in Singapore covering the SEA region.
Over the past 13 years of recruiting for some of the largest Tech companies and hottest startups, I have witnessed first hand the evolving changes in human resources. Today I write about one of the most distruptive changes across most industries affecting people; digitalisation!
Move aside Hardware, Software is the new future!
The hardware world is transforming at a rapid pace in the past 10 years. Today, faster innovation cycles, and falling barriers to entry are fuelling commoditisation. Virtualisation is driving demand for software running on industry standard hardware and companies are fast chasing higher profit margins and revenues.
With the Internet of Things (IoT), the machine-to-machine (M2M) evolution, the rise in smart or intelligent device adoption and cloud usage, many traditional hardware firms have been forced to go through a huge transformation in recent years. Many hardware manufacturers have come to realise that it is the software that controls the device capabilities and capacity and that has become a significant differentiator and they key to raking in profits and revenue. To survive, many hardware firms are attempting to become software centric and this has made numerous roles redundant on a large scale.
The impact on people - Fresh Grads
Is the developed world on the verge of a skills crisis? It is inevitable - The rapid pace of the shift from hardware to software and technological change has drastically reduced the shelf life of skills acquired by today’s university graduates to just a few years. As the industry moves from cables to cloud, it becomes more than ever challenging for these young fresh graduates to be able to meet the need for ‘soft’ or ‘digital’ skills.
The impact on people - The Experienced Professionals
However it can be said the people at the most risk are the ones who have spent longest in a business or organisation. This is because they face the possibility of becoming institutionalised or verticalised, and in today’s ever changing market conditions. It is important for all of us to be aware that the systemic, industrial-age corporate ladder approach to career progress has now given way to a digital-age corporate ‘lattice world’. In this ‘lattice world’, there are multidirectional career paths filled with today’s sought-after skills such as the Internet of Things (IoT), Big Data, Artificial Intelligence (AI) and Virtual Reality (VR).
In this current ‘lattice world’, one vital point is that continual professional reinvention needs to be something one embraces as a core competency. This would mean continually upgrading one’s skill set. For example, if you’re an experienced engineer for the past 10 years, it can be safe to say that within the next couple of years, having Robotics or Augmented Reality experience would become more appealing. Or if you’re involved in Data Centre Operations, you might upgrade your skills to fit that of a Cloud or Devops, a trending role in the ‘software future’.
If you’re an organisation or a business going through the transition, are you struggling to attract the new ‘new tech’ skills of the future?
With the cycle time for new technology compressed right now, it becomes harder than ever for an organisation to prevent a ‘skill crisis’ while transforming for the digital future. While businesses do have the abilities to recruit for new skills, the supply of technical talent with those ‘hot’ skills is limited and competition for it is fierce.
That’s where we come in.
Talk to us now to discuss the ways in which SearchElect can help your organisation go through a skills upgrade and attract the right talent to meet todays needs. We have invested in growing our talent pools and search services in distruptive tech markets and understand both our clients and candidates in this space.
I look forward to hearing from you.
+65 6589 8787