After the Covid-19 pandemic, it is evident that the use of emerging technologies in Latin American companies has increased exponentially in recent years, becoming allies to increase productivity and reinvent processes, which seeks to guarantee the permanence of companies in the market. In fact, a study carried out by Harvard Business Review Analytic Services ensures that 90% of companies will increase their investment in emerging technologies in the next 12 months.
From this perspective, and with the increase in demand for digital technologies, the Ministry of Information and Communication Technologies stated that $30,000 million will be invested this year for connectivity and $50,000 for new technologies in the country.
Organizations in Latin America are embracing emerging technologies to reinvent business strategy, fine-tune business processes, increase efficiencies, and improve customer experience while investing in their future.
The foregoing has not only made it possible to advance on equality issues, but has also had a direct influence on the labor side, since today the professions or positions that are related to technology top the list of the most requested profiles and hard to find.
Offering opportunities in the technology sector
“The labor market is offering opportunities in the technology sector that are accompanied by great challenges for workers and companies. To remain competitive, companies will need to focus on hiring problem solvers and relationship builders who can help drive change and deliver strategic value,” reveals Ricardo Triana, Managing Director of PMI Latin America.
Human talent in the technology industry
The technology industry has a huge challenge to keep up to date with emerging technologies, and in turn, to have a human talent-oriented approach to accompany this diversification of roles and its continuous updating of knowledge in an industry of accelerated growth.
Taking into account the study by Harvard Business Review Analytic Services, the talent shortage in the technology sector is 73%, due to the fact that there are not people with the adequate knowledge or soft skills required for these positions. .
The most recent Pulse of the Profession 2023 report from the Project Management Institute (PMI) confirms that power skills or soft skills are skills and behaviors that make it easier to work with others. These skills allow professionals to succeed in the workplace. Although technology has reinvented the marketplace and some professions, non-technical or interpersonal skills known as power skills are essential for professionals and for any organization that seeks to achieve successful objectives.
The same report showed significant connections. For example, 92% of respondents agree that power skills help them work smarter. And organizations that prioritize power skills see higher rates of project management maturity, benefits realization management maturity, and organizational agility.
The findings also confirm that communication skills (70%), problem solving (65%), collaborative leadership (69%) and strategic thinking (65%) are the most critical skills and those most in demand by companies in Latin America when they are looking for project professionals to help them successfully achieve their goals. “As technology continues to advance and replace many administrative tasks, power skills have become more important than ever to enable a shift toward complex problem solving and innovation. Mastering such behaviors along with basic technical skills will make project professionals more valuable, and could make them less vulnerable in cases where the job market declines,” says Ricardo Triana.
According to the McKinsey Global Survey of Future Workforce Needs, 87% of executives and managers say they are experiencing skills gaps to adapt tothe new labor realities within your organization. High-tech and telecommunications companies are the most likely to expect this level of disruption.
“Technology-based project tools have begun to increase technical skills, in aspects related to reporting, scheduling and risk management, allowing project managers to focus on results and create value for the company through collaboration, influence and strategic thinking. But, to face all these new tools, power skills are essential to deliver more efficient and strategic results”, highlights Ricardo Triana.
Understanding this need, according to PMI’s Pulse of the Profession 2023, 9 out of 10 project managers who responded to the report say that these skills help them work smarter, that is, they allow people to accept change, remain flexible and quickly learn and adapt to new technologies. It also builds resilience, enabling people to effectively deal with uncertain or challenging situations and find innovative solutions.
The same study reveals that organizations that prioritize power skills are instrumental in helping them meet organizational goals by 72% and additionally, the industries most likely to give power skills a high priority are technology. information, manufacturing, energy and telecommunications.
“For professionals to be valuable assets to companies, they need to be prepared with the right mindset, power skills, tools, and customer understanding. Most importantly, professionals can strategically invest in their growth and engagement through upskilling. This will allow them to take control of their future and achieve success in their respective fields”, concludes Ricardo Triana, General Director of PMI Latin America.