This assessment requires you to read and interpret a report written by Startup Australia. The report analyses the current hiring environment in Australia and how it compares with other nations.Do only Part A (1000 words)• Study the “Emerging Technology: Talent Snapshot” report by StartupAUS and provide an analysis incorporating the key points. A synopsis without analysis is insufficient to satisfy the requirements of the assessment.
a. The key insights, commentary on methods used, critique of the presentation methods and visualisations as well as possible improvements should be described. This should be addressed based on your learnings from the course.
• Specifically,a. Derive and quote and describe appropriate statistical metrics from the report.b. Suggest alternative graphical or visual representation.c. Comment on the data collection and management.
SUPPORTED BY EMERGING TECHNOLOGY: TALENT SNAPSHOT INTRODUCTION The remarkable story of the rise of the technology sector is the level of value created - not from physical resources but from the application of human skill and ingenuity. Startups are grown by smart and hardworking people that are able to take ideas and turn them into innovations which, in turn, provide valuable dividends to the community and economy at large. This snapshot explores talent through a variety of lenses - job creation of startups, supply and demand of skills, critical skills of the future and mechanisms for improving talent in the tech sector. Startups are an odd mix of a traditional business with a cutting edge technological component. While they have a significant place for business administration, operations, sales and marketing staff, our analysis of the local startup sector suggests over half of those working for a startup are doing so in a technical role. Our analysis of the job ads startups are posting shows a huge concentration of demand along the Eastern seaboard of Australia, as well as showing that while product roles have hit the mainstream, data and machine learning roles haven’t quite yet. Of course, having people equipped with the right skills is a critical component of the success of any startup, the job creator. But it’s also important for job seekers that the skills they’re learning are the ones valued by the marketplace. Australian data scientists in 2017 were most likely to be working in R, but in 2019 Coursera’s most popular data course was in Python, as the industry grows and changes. All of these insights and more are contained in this document. The Snapshot has been designed to be a data-rich overview of the talent picture in the Australian startup sector, shedding light on the interaction between human capital and the startups that depend on it. Australian startups create jobs at a predictable rate. We mapped 21 Australian startups at different stages of growth on a plane to show both the level of funding they have raised and their number of employees. In median terms, for every US$300,000 of investment, startups created a brand new job. When applied to the sector as a whole, which raised roughly US$1.4bn last year, we estimate over 6,500 jobs were created by startups in 2018 alone. We see outliers in the data on both sides, particularly at the extremes of large raises. Yet the median investment dollars to total jobs ratio remains remarkably consistent for estimation - particularly for total raises of less than US$100 million, which comprise the vast majority of venture capital in Australian emerging technology. While it may be less visible than a new factory or mine, funds raised by startups are large scale job creation events. John Henderson of AirTree Ventures tallied the employment generation of the startups in which they had invested. Those 48 companies have created almost 4,000 jobs over the last five years. When expanding the research to the startups invested in by the top 10 Australian VC funds, that number increases to 12,500 created jobs over five years.1 $50,000,000 200 400 600 800 DOLLARS RAISED (USD) TO TA L EM PL O YE ES $100,000,000 $150,000,000 $200,000,000 STARTUPS ARE HIRING 1 Change transition-of-economy narrative to one of job creation John Henderson, The Australian. https://www.theaustralian.com.au/business/technology/change-transitionofeconomy-narrative-to-one-of-job-creation/news-story/956d5c5cd2996c72ff6c21d97a145eb2 THE EMPLOYEE STRUCTURE OF A STARTUP TOTAL OF 1806 EMPLOYEE RECORDS ANALYSED ACROSS 14 HIGH-GROWTH STARTUPS. Australian startups have consistently called for increased investment in STEM skills. A look at their typical employee structure sheds some light on why - over half the employees working at Australian startups have a technical role. 38% fall broadly under the umbrella of software development. 13% of staff are working in a technical hybrid role in product and design, and a further 6% specialise in cutting edge startup roles, focusing on data and machine learning. The remaining 43% consists of traditional business roles, including sales and marketing, business administration and the executive. Operations and service delivery staff numbers tend to vary significantly, increasing in consumer- facing businesses. 17.5% BUSINESS ADMINISTRATION 13.1% PRODUCT/ DESIGN 38.0% SOFTWARE DEVELOPERS 17.4% SALES, MARKETING AND COMMUNICATIONS 5.9% AI/ML /DATA 8.1% OPERATIONS AND SERVICE DELIVERY JOBS MAP:B2C STARTUPS SOFTWARE DEVELOPMENT 40.0% SOFTWARE DEVELOPMENT 59.6% SOFTWARE DEVELOPMENT 16.2% SOFTWARE DEVELOPMENT 43.8% PRODUCT/DESIGN 40.0% PRODUCT/DESIGN 12.3% PRODUCT /DESIGN 12.4% STARTUP A: TWO WAY PHYSICAL MARKETPLACE STARTUP C: SAAS DIGITAL PRODUCTS STARTUP B: FINTECH DIGITAL PAYMENT PRODUCT STARTUP D: GIG ECONOMY PLATFORM PRODUCT/DESIGN 3.8% AI/ML/DATA 40.0% AI/ML/DATA 5.3% AI/ML/ DATA 5.7% AI/ML/DATA 5.2% BUSINESS | ADMINISTRATION 40.0% BUSINESS ADMINISTRATION 8.8% BUSINESS ADMINISTRATION 19.0% BUSINESS ADMINISTRATION 22.9% OPERATIONS AND SERVICE DELIVERY 40.0% OPERATIONS AND SERVICE DELIVERY 35.7% SALES AND MARKETING 40.0% SALES AND MARKETING 11.2% SALES AND MARKETING 10.5% SALES AND MARKETING 16.2% OPERATIONS AND SERVICE DELIVERY 2.7% OPERATIONS AND SERVICE DELIVERY 8.6% JOBS MAP: B2B STARTUPS STARTUP E: FINTECH INTERNATIONAL PRODUCT STARTUP G: WORKPLACE SOFTWARE ASSISTANCE STARTUP F: DISRUPTIVE FINANCIAL PRODUCTS STARTUP H: HUMAN RESOURCE SUPPORT SOFTWARE SOFTWARE DEVELOPMENT 46.5% SOFTWARE DEVELOPMENT 41.7% SOFTWARE DEVELOPMENT 42.8% SOFTWARE DEVELOPMENT 19.0% PRODUCT /DESIGN 16.9% PRODUCT/DESIGN 14.2% PRODUCT /DESIGN 20.3% PRODUCT/DESIGN 6.39% AI/ML/DATA 5.0% AI/ML/DATA 10.2% AI/ML/DATA 14.6% BUSINESS ADMINISTRATION 18.3% BUSINESS AD- MINISTRATION 21.5% BUSINESS ADMINISTRATION 14.2% BUSINESS ADMINISTRATION 11.8% OPERATIONS AND SERVICE DELIVERY 1.4% OPERATIONS AND SERVICE DELIVERY 9.3% OPERATIONS AND SERVICE DELIVERY 14.2% OPERATIONS AND SERVICE DELIVERY 2.7% SALES AND MARKETING 16.9% SALES AND MARKETING 10.8% SALES AND MARKETING 12.3% SALES AND MARKETING 29.3% STARTUPS CAN OFFER COMPETITIVE SALARIES A startup’s ability to attract talent is in part based on whether they can offer competitive remuneration in the marketplace. Yet despite the stereotype of startups running on fumes and ramen, startups have proven that they will pay for high end talent, particularly once they’ve raised funding. Think & Grow’s salary survey compiles anonymous data on average salaries across thousands of roles in startups. We’ve taken a sample from each of our core categories and it is clear that while junior roles average at a respectable level across the board, there are strong salaries for senior staff. Additionally, equity is not included on this list, so there’s the potential for even more value on offer to prospective talent. EA RL Y ST AG E ST A RT U P LA TE S TA G E ST A RT U P DATA SCIENTIST DATA SCIENTIST SOFTWARE ENGINEERING SOFTWARE ENGINEERING FINANCE FINANCE OPERATIONS OPERATIONS PRODUCT PRODUCT SALES SALES JUNIOR SENIOR $50,000 $100,000 $150,000 $200,000 $250,000 $300,000 $350,000 $400,000 Technology roles dominate the online job ads that startup post. Over half of the 14,000 job ads posted on major sites by startups in the last year were STEM roles, with 6,000 alone categorised as Information Technology positions. Of the remainder, traditional business roles in sales, admin and customer support all feature heavily. One category to note is Product - certainly highly in demand from startups, but in 2018 the StartupAUS Talent Gap report found that it had not yet entered mainstream consciousness. To see over 1,000 ads looking for talent in product shows it has started to crack the mainstream in a way that data science (169 ads) has yet to achieve. Despite that progress, it is not yet in parity with the actual representation of product roles in startups, so we would predict to see that number continue to grow over the next few years. I.T 60002000 4000 SALES ADMIN CUSTOMER SUPPORT PRODUCT MARKETING ACCOUNTING SCIENCE BANKING AND FINANCE DATA SENIOR MANAGEMENT MISC (UNDER 50 PLACES) SPORTS HEALTH AND MEDICAL MANUFACTURING HR 6023 2582 1344 1201 1089 872 590 177 173 169 139 113 108 76 70 56 173 WHO ARE STARTUPS LOOKING FOR? Looking deeper into the advertisements for technical roles, the strongest focus is still on coding jobs - software engineers and developers. Classic IT roles in network engineering, security, systems analysis and technical writing continue to feature as well. More modern startup roles are traditionally sourced via recruiters and networking, but ads for roles in UX/UI, product and data all have over 100 incidences across the year, indicating a growing awareness in the market of these skills. WEB / UX / UI DESIGN 1000 2000 3000 SOFTWARE ARCHITECTS HARDWARE/ NETWORK ENGINEERING SECURITY PRODUCT TESTING AND QA TECHNICAL WRITERS HELPDESK/ SUPPORT PRODUCT DEV, DESIGN AND MANAGEMENT BUSINESS / SYSTEMS ANALYSIS SOFTWARE ENGINEER SOFTWARE DEVELOPER TECHNICAL DIRECTOR / CTO DATA ANALYSTS DATA SCIENTISTS TECHNICAL ROLES - A DEEPER LOOK Startups are able to use large job marketplaces for their more traditional roles, but are still looking elsewhere to recruit specialised technical startup roles. Here we’ve grouped the job ads by the same categories as our job maps of Australian startups and compared our database of actual employees with the job ads that startups place. While we see a similar structure, it’s clear that many of the more specialised roles have been squeezed out by an increased share in software development (+5%), sales, marketing and communications (+6%) and operations/service delivery (+5%). This may indicate that for traditional business roles and software development the large online jobs sites are effective, but for specialist tech roles in artificial intelligence, machine learning and