Episode 88

Nick and I recently attended the CRN Pipeline Conference on the Gold Coast - a 3-day IT industry event where we heard from experts on what key trends are affecting the industry. We also took part in several panels to share our knowledge and came away with some key highlights that we want to share with you and how they could impact your business.

• Tackling the IT Skill Shortage
• Is Automation affecting Job Progression?
• How Non-Fungible Tokens (NFTs) Are Changing Businesses
• Web3 & the Metaverse: How it Will Impact Businesses
• And more!

Tackling the IT Skill Shortage

Like all other industries, the IT Industry is currently facing a large skill shortage. Skill shortages have been a growing issue since 2015. There are a number of reasons why the lack of skilled employees has become so concerning for employers. One main reason is that the rise in digitisation has greatly increased the need and demand for advanced skillsets across all industries. With higher demand, comes higher competition for roles and, recently, the power has shifted from the employer to the employee when negotiating role requirements such as when, where and how an employee will work. It is now an employee’s market and because of the high demand, IT workers are able to charge more for their skillsets and work on their own conditions. While this is great for many workers, it presents issues for companies that may not have the finances or flexibility to accommodate the new employee requirements.

Fortunately, there are more affordable and reliable options for businesses looking for IT support. If you are considering investing in an in-house IT staff member, consider working with an established managed services provider (MSP). As MSPs service a broad range of clientele, they generally hire IT professionals that specialise in fields such as cyber security or software engineering. So, rather than have a team of costly IT specialists in house, you could have a range of skilled IT specialists on call for a significantly better value proposition.

The result? Your business is then able to focus on what it does best with an MSP supporting your IT function and giving you greater access to talent.

is Automation Affecting Job Progression?

It’s likely that one of the reasons there are skill shortages is due to the increased use of Automation in many industries. For instance, automation software is being used in Computational Law to automate research tasks that would generally be completed by a junior lawyer. While this saves time and reduces human error, the issue lies in that the traditional means for juniors to progress to become seniors no longer exists. This is the case in all industries and businesses should be aware of how automation software will affect company growth as a whole.

Have you found this to be true in your business?

how Fungible & non-fungible tokens are changing businesses

In order to entice new workers, companies are offering new employee token option schemes. Similar to offering shares or equity in the business, employees may be offered fungible or non-fungible tokens. A fungible token is an asset that may be exchanged for another of like kind. Block chain technologies such as Bitcoin and other cryptocurrencies are the most prominent examples of fungible tokens. A non-fungible token, or NFT, is a unique digital identifier that cannot be mutually interchanged, such as digital art. These are attractive incentives as they can be traded or sold for, potentially, a higher amount over time.

Do you, or would you, offer this to your employees?

web3 & the metaverse: how it will impact businesses

Web3 is on the horizon, and it is set to completely change our online experience with more personal control over our data and the use of Artificial Intelligence (AI), Blockchain and Cryptocurrencies and Virtual Reality (VR). One of the biggest changes will be how we interact with customers through a virtual environment, such as, the Metaverse. It is already being put to use but companies such as McDonald’s, providing a virtual online restaurant for patrons to order from and have their orders delivered to their physical location. The UAE is set to launch the first metaverse hospital that aims to provide some level of patient interaction virtually.

Let’s take Non-Profits for example. Traditionally, we’ve had to run in-person fundraising events. Then came the introduction of GoFundMe pages and virtual events during Covid. Now, with the introduction of the Metaverse, NFPs have the potential to reach a far greater audience as the platform grows and unlocks new possibilities.

Have you already started thinking about adopting the Metaverse for your business?

are you ready for the future?

With all these advancements in technology and the demand for knowledgeable, skilled IT workers, it is now more important than ever to keep your business up-to-date and ready to adapt to change. The best way to do this is by working with a reliable and local MSP, so let’s talk!

Wine of the Week

The Wine of the Week is a Wirra Wirra Catapult Shiraz from McLaren Vale. A medium-body red with intense aromas of oak and peppery spices make this a simple yet delightful drop.

⭐4.3/𝟱⭐