A project management talent gap is upon us. According to a recent report by the Project Management Institute, “Across the globe, there’s a widening gap between employers’ need for skilled project management workers and the availability of professionals to fill those roles.” An increasing number of jobs are requiring project management skills, and this is compounded by the fact that experienced professionals are retiring from the workforce. Maybe you think this doesn’t pertain to you, but I encourage you to read on. You may be surprised!
We are seeing a steady increase in demand year-over-year for project management roles within industries that did not previously use project management. For example, since the last study a short five years ago healthcare has seen a 17% increase in project-oriented jobs. In management and professional services we are on pace to see a 52% increase in project-oriented roles in coming years.
The global implications of this project management talent gap are enormous. The projected amount of GDP at risk for the 11 countries in the study is $208 billion by 2027. Previous analyses conducted by the Project Management Institute suggested that project-related jobs would number 52 million by the year 2020. However, the latest estimate has now placed the figure at nearly 66 million. What does this mean for countries like the US? An expected growth of 214,000 project-oriented jobs per year through 2027.
If you have read this far, perhaps these numbers have given you pause. Will you get ahead of the curve and train your workforce now, or will you wait for the gap and compete for high-demand talent with everyone else?
You can read the complete report, “Job Growth and Talent Gap in Project Management 2017” here.