In today’s age, where technical innovation is paramount for enterprises of all sizes, hackathons are a perfect way to innovate to stay ahead of the curve. Out of the 1000+ hackathons conducted annually around the globe, 48.5% of them are conducted by private companies considering the many benefits hackathons offer businesses. 

With 90% of organizations adopting cloud in some or other capacity, Cloud computing has evolved from being just a buzzword into an industry estimated to reach a global market value of trillion dollars by 2026. Rapid advancements in IT infrastructure services, emerging technologies, and the radical shift to remote work culture in the wake of the pandemic has contributed towards an increase in enterprise cloud adoption manifold in the last few years.

It is challenging for companies to keep up with technological advancements. While technology helps create business opportunities, it also leads to a growing skill gap as the demand for skilled workers soars up to meet the new age job requirements. The shortage of IT talent is a leading corporate concern, with 86% of respondents believing it will continue to slow down the cloud and other tech projects. For 79% of CEOs, a lack of essential skills within their existing employee base is a threat to growth, as per the 22nd Annual Global CEO Survey, PwC.  The question arises: How can employers bridge this skill gap while retaining the current workforce?   We all know that hiring and training new talent to replace an existing worker is expensive. As per Gallup, the cost of hiring an individual can range from one-half to two times the annual salary of an employee, which is again a rough estimate, and the numbers may be much higher.  Employers can stay competitive and keep people’s skills in sync with the changing work requirements by upskilling workers. As you reskill your team, you work toward creating a cross-trained and well-rounded workforce that can boost business productivity and efficiency. For instance,

Continue reading…