CIO OPINION

The OECD reports Australia has the second highest talent shortage in the developed world behind only Canada .

Daniel Benad , Group Vice President and Regional General Manager for Australia , New

Zealand and Oceania at Rimini Street

Daniel Benad , Group Vice President and Regional General Manager for Australia , New Zealand and Oceania at Rimini Street , explores how the effects of inflation and The Great Resignation in IT could cause IT cuts and how savvy CIOs can best navigate these challenges .

Take travel , for one prominent example . Going to the airport is currently a game of chance . On any given day you may see staff shortages resulting in queues of travelers snaking outside the terminal waiting to pass security and bags being left behind or disappearing as there aren ’ t enough workers to load them . Or you may be hit with higher ticket prices which have increased to match rising fuel costs and demand . In some cases , your flight may just be flat-out cancelled . The aviation sector is not alone in feeling effects largely out of its control : the dual headwinds of a talent shortage and inflation are conspiring to potentially plunge the world into another recession , so soon after it just emerged from one driven by the pandemic .

The IT departments of Australian organizations may soon feel the pinch if they haven ’ t already . The skills shortage is something that has been well known even prior to the pandemic , but locked borders created pent-up demand for skilled migrants to fill the gap .

The OECD reports Australia has the second highest talent shortage in the developed world behind only Canada , while additional research unveiled that while the IT sector is booming with Australia ’ s tech workforce growing 8 % in 2021 ( compared to the national growth average of 3.4 %), a shortage

44 INTELLIGENTCIO APAC www . intelligentcio . com