“Transact to transform” will be a key theme across Australia over the next year, according to PwC. CEOs consider technological change to be the most important source of change, and 59% of CEOs plan to close a deal within the next three years.
This is also having a significant impact across the IT industry in Australia, with industry-wide consolidation as businesses look to diversify their portfolios and acquire skills that would otherwise be in short supply. Australia is expected to have a shortage of 30,000 cybersecurity professionals in the next four years alone.
Today, gaining access to skills and the ability to drive business is easier through acquisition than organic growth, and this poses both an opportunity and a challenge for IT professionals.
Rampant consolidation among business pivots
To give just one example, in late February, Australian MSP Spirit announced a major pivot toward cybersecurity as a solution to a substantial drop in revenue. To achieve this, it made a significant investment in the acquisition of Infotrust.
Meanwhile, ASX-listed Atturra spent more than $90 million on five acquisitions to grow the business to more than 800 employees and have the resources and capabilities to compete against the likes of IBM, Accenture and DXC.
SEE: Australia's IT sector faces a skills shortage.
Another trend has been foreign organizations looking to leverage acquisitions to enter the Australian market. US group Evergreen Services Group is an example, having acquired New Zealand-based Lancom Technology and this week announcing the acquisition of Centrered in Australia as its first entry into the market.
Acquiring companies will need cybersecurity talent
Cybersecurity skills and capabilities rank high among the priorities of companies looking to acquire them. Additionally, according to a recent study of the Australian IT market by Westcon-Comstor, data is also considered critical to an organization's ability to transform.
“Nearly all Australian-based respondents (94%) identified data capabilities as a key investment priority for the coming year,” the report notes.
Elsewhere, other key tech skills in demand, according to the latest Hays report, include project management, business analysis and software development.
“We are only eight weeks into the new calendar year, but it is clear that certain skills are sought after more than others,” Hays Asia-Pacific CEO Matthew Dickason said in a report. “These roles are at the top of employers' wish lists, and the current skills shortage amplifies existing attraction and retention challenges for organizations.”
Certifications will make Australian IT professionals essential hires
For Australian IT professionals working in organizations specializing in one of those demand areas, there is a good chance that market conditions will lead to an acquisition. For those in larger or growth-focused companies, there is also a good chance that the company will make investments and try to pivot into these areas of demand.
SEE: Psychological insights can help Australian IT professionals grow as leaders.
Both situations can present a challenge for employees to remain aligned with your business and its direction. Research shows that retention becomes a major challenge for organizations after an acquisition. But it can also be difficult for employees, and for reasons such as uncertainty about the future direction of the organization, uncertainty about personal job security, or perceptions of increased stress and workload, many employees feel unable to continue with their work. new organization.
The good news is that whether they stay in the organization or leave, IT professionals have power over their own destinies as long as the skills shortage remains so severe. However, since the motivations behind the company's consolidation and pivots are so focused, IT professionals will find now is a good time to update their certifications and training and ensure their own capabilities and careers align with the Actual trends.
Key certifications to obtain
There are several different certifications. Some good options to start include:
(ISC)² and ISACA are also particularly respected for their industry recognition and the depth of knowledge they represent. Their certifications will be highly beneficial to professionals seeking to validate their expertise and advance their careers in information security and control.
SEE: How technology professionals can prepare for the future of IT in Australia.
Regardless of which certification you start with, during any period of disruption and uncertainty, having a broad set of skills and well-considered certifications helps provide job security and options. Just as their organizations are pivoting to find new market opportunities and grow, the right set of capabilities will allow an IT professional to find a role that remains aligned with their own goals, values and interests.
