How digital skills increase your salary

Are your digital skills as good as they should be? How increasing your technical abilities could make a great difference to your salary; regardless of your job role…

Before we discuss the salary side, it’s important to note that a lack of digital skills has long been an issue in the UK.

  • In fact, poor technical expertise is said to have ‘fuelled skills shortages‘ across the nation for the past 20 years.
  • 51% of today’s employers continue to experience unfilled vacancies as a result of this problem.
  • These unfilled vacancies also come at an annual cost of £63 billion.

It’s not just stereotypical tech roles that require digital skills…

  • Yourmoney.com reports that possessing the necessary skills could enhance your salary by an additional £12,500 per year.
  • You don’t need to be working directly within IT for this to be relevant to you. Currently, professionals working in ‘finance, insurance, and property’ display the greatest ‘digital literacy’.
  • However, there are many adults still struggling to undertake basic technical tasks. The Lloyds Bank Consumer Digital Index survey (which featured 1 million UK adults) finds that…
  • 21% of adults struggle to use search engines to find information;
  • 27% have difficulties in managing money online;
  • And 34% don’t have the basic knowledge to stay safe online.

Why are these numbers so high in such a digital era?

  • 8% of respondents haven’t even accessed the internet within the past three months – and 48% of this group is under the age of 60.
  • It appears personal finances are a factor, with 47% of those who’ve not accessed the internet recently falling into the ‘low income’ category.
  • Yet the absence of skill training is also significantly contributing to this issue. Most employees (63%) haven’t been offered any digital skills training by their employers.
  • This issue affects personnel of all levels. 54% of managerial employees are yet to receive technical skills training.

It may be time for employers to explore further training within their staff attraction and retention tools.

Meanwhile, employees looking to expand their abilities could consider free training courses. Lloyds Bank Academy has listed one such digital skills training programme.