As we head into the middle of 2024, the demand for skilled contractors worldwide continues to increase, following the trend observed in 2023. Many economies face a skills gap due to the emergence of new technologies and other societal changes. To address the skills gap facing their workforces, countries like Germany are reviewing their regulations around immigration to make it easier for skilled talent from non-EU countries to work in Germany.
Throughout this article, we will examine the findings from recent industry reports to gain insight into how new opportunities will become available for contractors.
In-demand roles:
Notably, the Make It in Germany website lists several professions in high demand, including Technology, Science, Engineering, AI, and IT, amongst many more. This finding corresponds with recent surveys that indicate that the number of freelancers businesses hire will increase due to generative AI. It's important to note that while some may worry that AI will replace professionals, the recent Work Trend Index report published by Microsoft and LinkedIn in May 2024 found that of the business leaders surveyed for the report, 55% stated they had concerns over having enough talent to fill roles within their organisations. The report found that 60% of business leaders in industries such as engineering, cybersecurity and creative design shared these concerns about finding talent. These findings suggest that new technologies, such as AI, will present opportunities for those proficient in working with the technologies.
Skills in demand:
The World Economic Forum's "Future of Jobs in 2023" report lists Technological Literacy as the third most important skill on their Top 10 Skills on the Rise list. The report also identifies Big data and AI as critical skills that will potentially see a 60% growth in demand by 2027. This data is essential not only for IT contractors but also for those with knowledge in these areas.
Growing sectors:
However, the demand for skilled contractors extends beyond the technology and engineering sectors. Emerging industries such as renewable energy, healthcare, and e-commerce are also in need of qualified professionals.McKinsey & Co. predicts that Europe's working population and pool of possible workers will decrease by the end of the decade by 4% or 13.5 million. This reduction in the workforce will be especially evident in countries like Germany, which will see a decrease of 8% or 4 million people. As a result, these growing industries will require skilled professionals to meet their needs.
In conclusion:
The remaining months of 2024 are poised to be a year of abundant opportunities for skilled contractors. Those who possess the in-demand skills of technological literacy, big data, AI, and more will not only find themselves in high demand but also have the potential for significant personal growth and career advancement. With the emergence of new industries and the need for skilled professionals to fill the gaps left by an ageing population and other societal changes, the opportunities for skilled contractors are only set to increase, bringing exciting prospects for contractors across multiple industries. Check out our article, where we explore the impact of generative AI on freelance opportunities, to learn more.
If you want to learn more about a career in international contracting, please do not hesitate to contact us today to get started.
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