When Zach Sims started Codecademy in 2011, he was searching for a way to make coding more accessible and easier for people to learn. Fast forward to 2022, the mission remains the same, but now learning tech skills is critical for people to keep pace with the fast-moving digital economy and not get left behind.
We are in a bizarre unfamiliar job market characterized by the dual trends of a Great Resignation, which has 4 million people quitting their jobs on a near monthly basis, and a war for talent being brutally waged to attract, recruit and retain workers. To accomplish this goal, smart, progressive executives are offering upskilling, training and third-party education, mentoring and coaching.
It’s been proven in this economy that if an employee isn’t valued and offered additional assistance, in addition to compensation, they’ll leave for better opportunities. Since there are around 11 million jobs available, according to United States government data, it’s not an idle threat when people say they are contemplating moving on to another opportunity.
There is also a student debt, as college tuition is ridiculously high and too burdensome. Many people graduated, are heavily in debt, unable to find suitable jobs that can afford a repayment of tuition costs and have enough money left over to get married, start a family and purchase a home.
More jobs now than ever before require some sort of proficiency with technology. Codecademy has filled this void with offering learning to code, as well as an array of other in-demand, tech-related skills. There are around 40 million people worldwide who have taken some courses on Codecademy. The platform offers interactive, self-paced courses and hands-on learning in 14 programming languages across multiple domains, such as application development, data science, cloud and cybersecurity.
You can start for free to see if you like it and possess an aptitude. With time, effort and dedication, you can embark upon more courses, in pursuit of finding the right fit. Even if you are not contemplating changing careers, it’s helpful to have some tech-related skills, as nearly most of the jobs of the future will require it. Lacking these skills may place you at a competitive disadvantage in your career progression.
To gain access to more services that could help its students, Codecademy, through an acquisition, joined with Skillsoft, which has an expertise in training and boasts a network of mentors and instructors. It also offers executive coaching and leadership training. This creates a strong synergy between the two organizations.
Skillsoft, a global leader in corporate digital learning, acquired Codecademy for approximately $525 million in cash and stock. Jeffrey R. Tarr, CEO of Skillsoft, said about the acquisition, “Codecademy will significantly expand Skillsoft’s capabilities in the high-growth [technology and developer] segment.” Tarr added, “Strategic acquisitions are an important part of our growth strategy. We acquired virtual instructor-led training capabilities with Global Knowledge and coaching with Pluma earlier this year.”
The chief executive elaborated on the benefits, “With the addition of Codecademy’s innovative capabilities, we will create an even more immersive online learning experience. When we combine Skillsoft’s enterprise customer base of more than 12,000 corporate customers and over 46 million learners with Codecademy’s 40 million learners, sophisticated digital marketing capability and influential brand, we expect to unlock significant revenue synergies.”
Sims, founder and CEO of Codecademy, said, “Since our founding, Codecademy has been focused on empowering our learners to build inspiring careers in technology.” He added, “We have helped tens of millions of people around the world learn new technology skills. Together with Skillsoft, we will have the opportunity to rapidly increase the size of our content library and scale Codecademy across the millions of learners and thousands of companies–including approximately 75% of the Fortune 1000–that work with Skillsoft worldwide. With additional resources and opportunities to drive growth, we are excited to embark on this important next chapter.”
For those who want to pivot into the tech space, the compensation is enticing.
To gain a sense of the compensation paid in the tech field, here are some of the highlights of the Skillsoft Global Knowledge 2021 IT Skills and Salary Report:
Highest North American IT professional salaries by state:
- New Jersey ($152,656)
- Virginia ($145,724)
- Connecticut ($141,475)
Highest North American IT salaries by job function:
- Executive ($174,181)
- IT Sales and Marketing ($156,471)
- Cloud ($144,533)
- Risk Management ($136,586)
- IT Architecture & Design ($132,941)
- Cybersecurity ($132,163)
In the future of work, as tech permeates nearly all aspects, it’s important to at least have some exposure. It’s no longer our parents’ and grandparents’ job market, in which a person would take a job and remain at the company for the duration of their career.
Now, it’s completely different. In a blink of the eye, people are using tech to order and receive groceries, dinner and goods via apps. Work is conducted through Zoom and other video platforms. You can’t be complacent. In the world we live in, which is characterized by constant change, people need to always be learning, growing and acquiring skills and accreditations.
Source: Forbes
