New research shows how the search for talent is impacting Investment Promotion Agencies
It’s almost two years since we last conducted our global survey of IPAs and while the environment remains as competitive and uncertain as ever, the challenges faced by IPAs are always evolving.
Our 2023 results will be released on 1 June (register here for the online event) but just to whet your appetite, I thought I’d write about one of the biggest changes from our 2021 research – talent.
Talent did not feature much in our 2021 report but is a definite headline grabber in 2023. Almost half of survey respondents in 2023 (49%) mentioned that attracting talent was one of the three biggest challenges they currently face.
Looking at this in more detail we can break talent into two themes. The first is matching talent to the needs of investors, while the second is about attracting and retaining the talent to work in Investment Promotion Agencies.
- Matching talent to investor needs was closely associated with that other key trend in investment, the spread of digitalisation across the economy. The most common skills gaps mentioned in the survey concerned tech, with more specific areas emerging such as AI, cybersecurity, and automation.
- For internal skills needs, IPAs are reporting that it is becoming more difficult to attract and retain staff, with reduced funding impacting these abilities even more. The idea of having to do more for less was often mentioned in the survey.
Tune in to learn from other IPAs
These issues will be familiar to most people working in investment promotion and if you are looking for solutions be sure to register for our online event on Thursday 1 June. We have several expert speakers lined up who will share how they have approached the talent puzzle and other key themes that have emerged from the research.
About the Innovation Report
OCO Global has partnered with the World Association of Investment Promotion Agencies (WAIPA) to produce the 2023 Innovation Report. 74 IPAs responded to an online survey between November 2022 and March 2023, with results supplemented by a series of in-depth interviews and client conversations.
The OCO Global – WAIPA Innovation Report 2023 will present the key results from the research alongside case studies that show how these issues are impacting investment promotion activity. The results will be available from 1 June 2023 after an online launch event.
