Multiverse Report: Data Skills Gaps Cost Businesses 25 Working Days Annually per Employee

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A report from Multiverse reveals that businesses are experiencing productivity loss due to data skills gaps, on an average for each employee 25 working days per year on data-related tasks. Although data is essential in most roles, around half of workers struggle with data analysis and automation, leading to inefficiencies. Workers spend 14.3 hours per week on data tasks, but 10% of this time is unproductive due to these skills gaps. Despite the need for data literacy, only 39% of employers provide comprehensive data training.

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Express Employment Professionals-Harris Poll stated that one-third of employers worry about losing their current job before securing a new one. The survey was conducted on 1,002 U.S. adults and found the top reasons for seeking a better option include 46% for better pay, 41% wants to balance work/life and finding industry growth opportunities. Despite economic uncertainty, workers still expect competitive pay, yet many companies fail to do so. The U.S. unemployment rate hit 4.3% as per the Labor Statistics report.

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latest International Workplace Group (IWG) survey announced that Budapest has been ranked the top city in the world for "workcations." It scores 75 points due to its strong transport, accommodation, broadband, and flexible workspaces. The second place was by Barcelona which dropped to second place with a score of 73.5, tied with Rio de Janeiro. The rise of workcations reflects a growing preference for "work-from-anywhere" policies, with 74% of surveyed hybrid workers considering it an important factor in job satisfaction.

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Employee reviews mentioning "burnout" on employment platform Glassdoor have hit their highest level since 2016, now 44% higher than pre-pandemic levels. This rise, sustained since late 2021, is attributed to employees being overstretched as hiring slows. Burnout is often blamed on management's unrealistic expectations and lack of support. Despite this, employee confidence slightly improved in July, with the Legal sector showing the highest sentiment and Arts, Entertainment, and Recreation the lowest.

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Organizations are increasingly creating AI-related roles to ensure ethical use and development. The AI Researcher role is the most sought-after position in ethical AI decision-making, with 59% of organizations currently hiring or planning to hire for this role. Then followed by Policy Analyst Role (53%) and AI Compliance Manager (50%). 68% say that internal training and upskilling programs should be implemented to attract and prepare professionals for new AI roles.