- Skills shortage is causing technology investment to fall short
Cairo, Egypt – The inaugural employer survey from the leading Washington D.C. based online university, Nexford University, reveals the major recruitment challenges being faced by 78% of leading Egyptian companies – including the likes of PWC, Pfizer and the National Bank of Egypt.
As unemployment in Egypt continues to rise, this survey raises awareness of Egypt’s growing skills shortage, in line with global trends seen in most fast-changing, growing economies. Last year, the World Economic Forum predicted over one billion people – a third of the world’s workforce – would need to reskill by 2030.
The Nexford Employer Survey also reveals:
Hiring
- 48% of organizations anticipate hiring new full-time staff over the next 12 months, with the majority intending to hire in sales-related roles
- 70% of employers said they would hire more entry-level talent, if they were more job-ready
- 80% of employers consider MBA candidates more job-ready compared to those without an MBA
Upskilling
- 51% of employers say over 20% of their team needs upskilling
- 51% of employers would consider sponsoring employees to upskill
- 62% of employers say technology investment is falling short due to skill gaps
Fadl Al Tarzi, CEO of Nexford University, commented:
“This eye-opening data is consistent with trends we’re seeing across the world, including in the US. It is a wakeup call that employers, jobseekers and educators need to rethink the nature of their relationship. The current skill gaps are only going to widen due to the accelerating pace of technology disruption.
“At Nexford, we believe the solution is in rethinking the way companies hire and the way universities collaborate with employers. We’re looking to bring to Egypt a platform to create a seamless relationship integrating employers’ needs within our university, to produce more qualified graduates, and provide employees with high quality, yet affordable, upskilling and reskilling options.”
The findings reveal employment trends in Egypt, with nearly half of employers looking to hire full time staff in the next 12 months. However, their search is hindered by a widening skills shortage across all levels.
Sales and Marketing roles ranked as the most complicated to hire for, with 60% of employers ranking them as 'Extremely Difficult' to fill.
Business Analytics skills were in shortest supply with over half (52%) of employers saying they find it ‘Hard’ or ‘Very Hard’ to find talent with this skill. Also lacking were Digital Transformation (45%) and Digital Marketing (37%). Other skills shortages include Creative Thinking (40%), Time Management (37%) and Problem Solving (28%).
53% of employers said they would consider sponsoring employees to upskill.
Nexford University offers undergraduate and MBA programs, plus courses and certificates in business, technology and management-related fields. It has already partnered with several leading organizations in Egypt such as Hassan Allam Holding, Ghabbour Auto, and Eva Pharma to upskill their employees. Eva Pharma is the first ever Egyptian company to win the MENA LinkedIn Talent awards.
-Ends-
Further information
Thoburns
Katie Smitten
Nexford@thoburns.com
Tel: +34 633 663 699
About Nexford University
Nexford University is a next-generation university, built for leaders, not followers.
The traditional university experience hasn’t changed for 100 years. Nexford believes the experience is no longer fit for purpose, and it is time for a paradigm shift in higher education. One that puts learners first, giving them the skills to succeed now - and in the future.
Nexford provides learners with a fully online global education based on mastery of competencies that are relevant in the workplace. It equips learners with the skills needed for lifelong learning and skill development. A global learner community supports learning and success through the innovative use of technology, such as AI and machine learning. More information can be found at https://www.nexford.org/
© Press Release 2021
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