EurofirmsGroupleading national talent management company conducted the study”The labor market of the new digital economy. Keys to attracting and managing digital talent” Analysis of current trends and evolution of technological capability in Spain. Report – based 1,200 surveysAlongside interviews and testimonies from experts and organizations in the industry, it confirms the growing presence of digital media in business. 83.3% of the participants state that they have some kind of professional experience. in the new digital economy or technology sector.
this Impact of digital economy on GDP in Spain 22% in 2021 and The government’s prediction is that it will reach it. 40% by the end of 2025. This research analyzes the main motivations, most valuable aspects and future expectations of professionals with and without industry experience. The results serve as a starting point for improvement. Strategies and methods for attracting and retaining the talents needed to face current and future challenges with assurance.
IT talent is young and has a high workforce turnover
attribution Work experience of IT profiles, Only 32.4% of the respondents have more than 10 years of work experience in the sector, 45% have at most 5 years of experience, 22.4% of professionals have a stage of less than 3 years. About 64% worked for 2 to 7 companies in a technology-related position, i.e. high turnover rate consists of professionals in the field.
“These data show that youth of professionals of the new digital economy mostly consists of Y and Z generations. Specifically, 81.75% are between the ages of 18 and 44. These two generations share behaviors and trends, for example, millennials have spent most of their lives in digital environments and centuries-old generations are digital natives. Employee loyalty is also presented as a challenge for the industry. and from this aspect, our study shows that the balance between professional and personal life is very important. “33.6% of respondents say telecommunications is the most attractive thing in the industry, followed by workforce flexibility at 33.2% and salary rising to third place at 30.5%.” Raúl Sánchez, Country Leader of Eurofirms Group Spain.
this 53.1% of the respondents work in a company with a technological DNA, which means that around 40% are companies that are not solely dedicated to technology. E-commerce, technology or telecommunications, commerce, services, media and internet-related business areas are the sectors with the highest number of experienced candidates.
The challenge of technological education
this 67.8% of professionals in the sector are working as workersand among the experienced unemployment rate 5.1%. In addition, 68.8% have higher education – 15.1% have a doctorate or master’s degree and 53.7% have a university degree.
The results show that only 33.1% have been regulated in the sector or accessed through university education.20.4% have evolved from other fields of knowledge and 16.4% are in the industry because of their own learning methods.
Raúl Sánchez points out: “Today it is clear that traditional education system does not meet the demands of the industry. The percentage of self-taught developers in the United States rises to 70%, although the total of Hispanic respondents choosing to self-learn is up to 16%. To fix this situation companies may opt for specific IT training programs, currently make up 8% of experienced professionals according to our study. Other types of education, such as unregulated education and training camps, contribute up to 8.7%.”
Gender gap is critical
New one digital economy and technology sector to present great difficulty with the existence of female talent.
for him 60% of professionals agree that women’s participation is a critical or very important issue this needs to be addressed. The respondents stated that the main reasons for the lack of female talent in the sector are the stereotypes of the past based on women’s lack of interest in technical or scientific professions (37.8%); lack of female role models in the sector (32.4%); the sexist culture of companies that offer opportunities in favor of men (28.6%); and environments where family reconciliation is difficult (26.1%).
Male presence in multinational technology companies is the majority (17% vs. 24%), women stand out in counseling (17% vs. 10%).
Wage inflation due to talent shortage
The general impression is that industry is experiencing wage inflation and that companies are in a real battle for this talent very envied. 45% of professionals agree that this salary is overvalued7% think it only exists in certain positions and 12% believe the situation is normal in terms of work.
The results of the surveys show that 32.3% of experienced professionals earn annual salaries between €20,000 and €30,000, 19.8% between €30,000 and €40,000 and 21% over €40,000. On the other hand, 24% say their salary is less than 20,000 Euros.
In terms of gender, women earn less than men. 29% of respondents say they earn less than €20,000, which is 5 points more (24%) than men. This gender gap is also seen among the high-paid (15.6% vs. 25.6%).