Lastly, bridging the IT talent gap will be more challenging to the companies. Appealing to the interests of the best young talent while investing in increasing the productivity of existing employees will be critical to bridging the gap in the long run.
"The working practices of 'Gen Z' workers are vastly different from those before them. With this generation expected to work an average of 17 jobs in their lifetime, they will develop a broader variety of skills as well as be exposed to multiple industries during their careers. Companies will need to figure out how to tap into this. They are driven more by their contribution to society than the logo of the company they work for," said De Luca.
Governments have also recognized this generational shift through changing the labour market, introducing new tax incentives and passing laws to allow easier investment. To further develop talents, governments have also focused on continual learning. Singapore, for instance, is investing S$1.2 billion (US$0.9 billion) in technology development to improve its public sector.
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