A joint report by professional services organisation EY and skills intelligence platform iMocha titled ‘Tech skills transformation — Navigating the future of work in 2025 and beyond’ indicates a shortage in developer tech skills. Merely 19 per cent of the organisations surveyed reported having established a skill taxonomy, while 43 per cent had conducted skill benchmarking at the employee level. There is an estimated global tech talent pool of over 26 million people with 65 per cent in software engineering roles followed by 27 per cent in IT roles and 8 per cent in business app-related roles.

Said Amit D Mishra, Founder and CEO, iMocha, “In this report, we discovered 28 per cent of the leaders believe they will have to revamp tech skills for a third of their talent base by 2025 to stay competitive.”

The shortage of future tech skills is expected to arise from the high demand for application developers and business app users, as indicated by 76 per cent and 62 per cent of the surveyed organisations, respectively. The report highlights India’s standing as one of the top tech talent markets, with a market share of 16 per cent, putting it on par with Europe’s 16 per cent and the US’ 20 per cent.