Study: Finland’s technology industries will need 130,000 new experts

A recent study conducted by Technology Industries of Finland reveals that within the next ten years, Finland's technology industries will require 130,000 new experts, at a rate of approximately 13,300 experts per year. The aging population and skills shortage pose a threat to the country's economic growth and the digi-green industrial transformation. Currently, the technology industries employ 317,000 people, making the target of 130,000 new experts ambitious. Failure to meet this target would hinder sustainable economic growth and the transformation of Finnish industry. The study also highlights the high demand for skilled employees, with 60% of new recruits expected to hold a university degree or equivalent expertise. Furthermore, there is an annual shortfall of 1,500 professionals.

To address the skills shortage, the study emphasizes the need for partnerships between companies, educational institutions, and labor administration. Efforts should focus on attracting international experts and their families to Finland, improving resources and education quality, and providing support for the spouses of newly arrived experts to find work. Flexibility in work-based migration permit processes is also necessary. Additionally, there is a call for a change in working cultures and attitudes to ensure that immigrants and their families feel welcome and integrated into the community.

The study identifies various skills required by businesses, including continuous learning, digitalization, low-carbon development, circular economy, customer orientation, management, sustainable value creation, and corporate responsibility. Digitalization is recognized as a crucial skill across all sectors of Finland's technology industries, with shortages observed in areas such as data utilization and digitalization. Environmental requirements and sustainability are also gaining importance in skill requirements.

The study gathered data from member companies' job advertisements, theses, final-year projects, and research publications using artificial intelligence for extensive data analysis. The findings are made available on the Osaamispulssi.fi website, which provides up-to-date information on the skills needed by Finland's technology industries.

Overall, the study highlights the urgency of addressing the skills shortage through collaboration, education, and facilitating work-based migration to ensure economic growth, welfare services, and a high standard of living in Finland.