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THE FUTURE OF JOBS AND SKILLS (Major drivers of transformation are…
THE FUTURE OF JOBS AND SKILLS
Major drivers of transformation are expected to have significant impact.
LIKE:
Significant job creation.
Job displacement.
Widening skills gaps.
Heightened labour productivity.
65% of children entering primary school today will ultimately end up working in completely new job types that don’t yet exist.
EMPLOYEMENT TRENDS
Trends could lead to a net employment impact of more than 5.1 million jobs lost to disruptive labour market changes in white collar office functions.
Manufacturing and Production roles are also expected to see further bottoming out but are also anticipated to have relatively good potential for upskilling.
New and Emerging Roles
New and emerging job categories.
Two job types stand out
Data Analysts.
Companies expect will help them make sense and derive insights from the torrent of data generated by technological disruptions
Specialized Sales Representatives.
Every industry will need to become skilled in commercializing and explaining their offerings to business or government clients and consumers.
Changes in Ease of Recruitment
Competition for talent in in-demand job families such as Computer and Mathematical and Architecture and Engineering and other strategic and specialist roles will be fierce.
DRIVERS OF CHANGE
We are today at the beginning of a Fourth Industrial
Revolution.
It is expected that the impact for nearly all drivers will occur within the next 5 years, highlighting the urgency for adaptive action today
SKILLS STABILITY
Business model change often
translates to skill set disruption.
Business model disruptions are resulting in a near-simultaneous impact on skill sets for both current and emerging jobs across industries.
Degree of changing skills requirements within individual job families and occupations is even more pronounced.
FUTURE WORKFORCE STRATEGY
Two thirds of our respondents report intentions to invest in the reskilling of current employees as part of their change management and future workforce planning efforts.
RECOMMENDATIONS FOR ACTION
It is our actions today that will determine whether we head towards massive displacement of workers or the emergence of new opportunities.
IMMEDIATE FOCUS
Reinventing the HR Function.
Making Use of Data Analytics.
Talent diversity—no more excuses.
Leveraging flexible working arrangements
and online talent platforms.
LONG TERM FOCUS
Rethinking education systems.
Incentivizing lifelong learning.
Cross-industry and public-private collaboration.
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