Employers to Pay 20% More for Scarce Talent in 2018
Forrester's Predictions for 2018 report reveals where companies were lacking in 2017 and what challenges they will face next year.
Employers that lag behind in attracting critical digital talent will pay up to 20% above market salary rates for new hires with in-demand skills — a group that includes data scientists, high-end software developers and information security analysts — in 2018. Executives at digital leaders have 90% of the talent they need, while those at self-described digital laggards have only 19% of the talent they need.
One big trend in 2017 was an emphasis on Customer Experience (CX). However, CX quality plateaued or decreased this year and 30% of companies will see further declines in CX performance in 2018, resulting in a net loss of a point of growth.
When it comes to Digital Transformation, 20% of CEOs will fail to act and put their firms at risk. Over 60% of executives believe they are currently behind in their digital transformation.
Automation will alter the labor market by eliminating 9% of U.S. jobs and creating 2% more. That shift will disproportionately impact specific sectors like sales and call center employees and administrative workers. Employers will also spend 3% more on 'micro apps' for employees.
As for Artificial Intelligence, 75% of early AI projects are predicted to underwhelm due to operational oversights. In 2017, AI projects didn't focus enough on CX, so that has to part of the strategy moving forward.