Six insights into how business can bridge the skills gap

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Six insights into how business can bridge the skills gap | opinion

email rounding up the latestIf you want to persuade entrepreneurs, chief executives and policymakers to do something, you usually have to put a figure on the potential benefits.they needed to succeed in the economy of the future could add $6.5tn to global GDP by 2030 — if skills gaps were bridged by 2028.’s estimates “only reflect[ed] closing currently observable skills gaps”, and did not take into account the likely emergence of new types of job as a result of innovation and automation.

At an individual company level, according to Bob Moritz, global chair of PwC, upskilling cements trust between employer and employee. Staff without skills were more likely to quit, he told one Davos panel.On the other hand, the acquisition of skills, particularly in high-demand areas such as information technology and engineering, makes staff more marketable outside their company, or country. That is a problem for developing countries, said Tunisia’s prime minister Najla Bouden.

Blue also pointed to an important byproduct of favouring skills over formal qualifications. A skill-based approach opens the door to potential recruits from under-represented backgrounds with non-traditional educations because “it doesn’t really matter where you come from or what kind of experiences led you to have these skills” .

Some jobs in digital marketing, data science and user experience design did not exist at the time, making a flexible approach essential, she pointed out. “If we expected that these job roles can only be filled by people who emerged from the school system, we would have a tremendous number of people who were underemployed, and that’s a huge waste to the system and a great tragedy for the individuals.

 

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