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EDMONTON, ALBERTA, CANADA, Oct.25, 2021 /EINPresswire.com/ – Alberta buckles up for a remarkable tech boom as studies show the skill shortage will continue to plague the region.

“It’s an exciting time for the technology industry in Alberta. The staff shortage is already a challenge, ”says Fahim Moledina, owner of Opti-Syn Consulting. “The steps we are taking now will have a major impact on the future of the economy in our province.”

Provincial support programs and government incentives are proving enticing to venture capitalists – and they are investing. As a result, the province is now home to 3,083 tech companies, down from just 1,238 in 2018, according to Calgary CTV News reporting, citing a study by the Alberta Enterprise Corporation (AEC).

“Tech is absolutely booming in Alberta, there’s no doubt about that. There are many opportunities and challenges that companies in the province face and that will continue to arise in the years to come, ”said Moledina. “This is really the time to be proactive instead of reactive.”

Global organizational consultancy Korn Ferry recently conducted a study that found a country-by-country analysis that there will be an extreme global talent shortage of 85 million people by 2030. If this is not controlled and people are not trained for more high-tech jobs, it could result in unrealized annual sales of $ 8.5 trillion.

A closer look by the company revealed that Russia could have a skilled labor shortage of up to six million people by 2030; China could face a shortage of around 12 million workers; and the United States could face a labor shortage of over six million. The study showed that Japan, Indonesia and Brazil could be hardest hit, with shortages of up to 18 million skilled workers each forecast.

This could spur a restructuring of the sector’s powerhouses, with India potentially taking the lead with its projected surplus of one million highly skilled technicians by 2030.

“Governments and organizations must make talent strategy a key priority and take steps now to educate, train and develop their existing employees,” said Yannick Binvel, president of Korn Ferry’s Global Industrial Markets Practice.

According to Werner Penk, President of Korn Ferry’s Global Technology Market Practice, it is up to companies to train workers appropriately for a high-tech world and governments to rethink education programs to generate the talent pipelines they need.

Data from the AEC study shows that these startups moving to Alberta are expanding rapidly. Within just two years, from 2018 to 2020, the number of companies with 25 or more employees rose from 13% to 25%.

Substantial investments in machine learning as well as in agricultural engineering products are driving a large part of the growth.

All of this is evolving, just as nearly half of the companies reported moderate to significant staff shortages in a survey distributed by the Business Council of Alberta, the Alberta Chamber of Commerce, and CPHR Alberta.

Respondents reported a number of obstacles to hiring, including shortages of applicants, competition for top talent and lack of necessary skills.

“There are very real concerns that labor challenges could slow the province’s economic recovery,” said Fahim Moledina. “Government support programs like Alberta Jobs Now are designed to really help companies that choose to participate, while others create more enticing hiring opportunities. Companies need to be proactive in finding the right people for now and, most importantly, for the future. On-the-job training and education are becoming key words for the future success of companies. ”

About Opti-Syn Consulting:

Founded in 2019 by Fahim Moledina, Opti-Syn Consulting specializes in project management and strategy that facilitate business transformations by working with a variety of budgets. With its expertise in redesigning business processes, staffing and improving operations to avoid waste, Opti-Syn has helped numerous companies achieve long-term goals through actionable plans.

Fahim Moledina
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October 25, 2021 at 1:36 PM GMT

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