Why you might lose your job in five years

A new report has found 40% of companies globally believe a quarter of their talent will be redundant in three to five years.

The biggest talent challenges organisations currently face - including the recruitment of those with niche skills - is expected to remain a core focus for half of the world’s HR leaders this year.

The report by Zinnov surveyed individuals in various HR functions across 40 organisations in the US, UK, France, Ireland, Japan and Singapore.

The research found that despite a push by HR to become more innovative and strategic in their initiatives, only 20% of global companies feel confident in their skill set assessment, large volume data analysis and workforce planning, Herald Online reported.

Looking into the future, 80% of companies expect their headcount growth to be in the Silicon Valley, with 36% expecting their company’s innovation to be take place in the Valley.

"Data scientists and user experience designers will witness very high demand, while mobile application developers and cloud computing experts will witness moderate to high demand,” Vamsee Tirukkala, managing principal at Zinnov, said.

“Significantly, all these skills were non-existent a decade ago. Organisations are also expected to increase their focus on soft skill development across levels and functions.”

Respondents are also anticipating greater workforce growth in engineering (50%) and analytics skills (40%) such as big data, predictive modelling, HR analytics, and mobility (32%).