How Tech-Heavy Is Your Workforce?

In a demonstration of the evolving professional services landscape, a recent analysis shows that over 40% of Australian employees at one of the world's leading accounting and advisory firms now work in tech-related roles. This striking increase of 291% in tech workers within just over four years highlights the significant shift in demand for technical expertise.

Consultancy.com.au used PwC data to report that the rapid growth in technology services demand in Australia, from both public and private sectors, has driven the firm to accelerate investments in contemporary tech-driven roles. Rohit Antao, the firm's cloud & digital business leader, explains that this is primarily due to the need for digitization to drive economic growth, enhance customer outcomes, and make businesses more globally competitive.

From a headcount of 10,600 local employees (a 28% increase in the same period), the percentage of staff working in tech roles has risen from 13% at the end of 2018 to over 40% currently. In December 2018, about a quarter of the firm's consulting roles were considered tech-related, amounting to just over 600 out of 2,360 employees. That figure now stands at 80% of all consulting positions, with a total of 2,785 tech consultants.

The firm plans to continue upskilling its employees in cyber, cloud, and digital and has launched significant tech recruitment drives at entry-level and senior ranks. It has exceeded initial targets for its Skilled Service Hub in Adelaide, which opened in mid-2021, promising 300 new jobs over the coming 18 months. Having surpassed that target within a year, the firm revised its numbers upwards, aiming for 2,000 new jobs within five years of the hub's launch.

The firm's shift toward digital helps attract and retain talent and expands its portfolio of services. Since 2018, several new functions have been added, including data and platform engineering, product innovation, and consulting. The proportion of tech-related workers in 'enabling functions,' a staffing category that has doubled to over 40% despite a reduction in overall numbers, signals the importance of digital transformation.

This digital transformation has also driven significant revenue growth for the firm. Advisory services, driven by digital transformation needs, have surpassed Assurance, contributing over half of the firm's AUD50 billion revenue in the last financial year. The growth in technology-enabled business transformation, enterprise-wide and within specific business functions, highlights the industry's evolving focus and underscores the importance of tech talent in the employee pool.