Did you know that by 2025, 50% employees have to reskill themselves to survive in the competitive job market?
Do you know the reason why?
According to the Future of Jobs Report by the World Economic Forum, as the utilization of technology becomes more prevalent.
World Economic Forum’s Future of Jobs Report predicts that due to the economic aftermath of the pandemic and the rise of automation in the job market, half of us will need to acquire new skills within the next five years. The report examines the future jobs and skills, monitoring the speed and direction of change.
However, the same technological disruption causing job transformations can also offer solutions to create new job opportunities and assist individuals in developing new abilities.
TOP 10 JOB SKILLS BY 2025
- Analytical thinking and innovative skills
- Active learning and learning strategies.
- Complex problem-solving skills.
- Critical thinking and analysis skills
- Creativity originality and initiative
- Leadership and social influence
- Use of technology monitoring and strong control
- Technology design and programming
- Resilience stress tolerance and flexibility
- Reasoning problem solving and ideation.
We will discuss all the above skills in details separately.
Why is the reskilling important?
In today’s rapidly changing work environment, reskilling has become increasingly important for individuals and organizations alike. Reskilling refers to the process of learning new skills or upgrading existing skills to adapt to changes in the workplace. In this blog post, we will discuss the importance of reskilling in the workplace and how it can benefit both employees and organizations.
1. Keeping up with technological advancements:
As technology continues to evolve at an unprecedented pace, it is essential for employees to reskill themselves to stay relevant in their fields. Reskilling can help employees learn new technologies and tools, enabling them to work more efficiently and effectively. By reskilling, employees can also stay up to date with the latest trends and best practices in their industry, which can help them maintain a competitive edge in the job market.
2. Meeting changing job requirements:
As the nature of work continues to change, job requirements are also evolving. Many traditional jobs are being replaced by automation and artificial intelligence, which means that employees need to develop new skills to remain employable. Reskilling can help employees meet these changing job requirements, allowing them to transition into new roles or take on additional responsibilities within their current position.
3. Improving employee morale and retention:
Reskilling programs can help improve employee morale and job satisfaction. When employees feel that their organization is invested in their professional development, they are more likely to feel valued and motivated to perform well. Reskilling can also provide employees with opportunities for career advancement, which can increase employee loyalty and retention.
4. Enhancing organizational agility:
In today’s fast-paced business environment, organizations need to be agile and adaptable to stay competitive. Reskilling programs can help organizations develop a more flexible and versatile workforce that can quickly adapt to changes in the marketplace. By investing in reskilling programs, organizations can build a culture of continuous learning and development, which can help them stay ahead of the curve.
5. Addressing skill shortages:
Many industries are experiencing skill shortages in certain areas, which can make it difficult for organizations to find qualified candidates for certain positions. Reskilling programs can help address these skill shortages by providing existing employees with the training and education they need to fill these roles. This can help organizations save time and money on recruitment and onboarding, while also developing a more skilled and knowledgeable workforce.
Critical thinking and problem-solving are the most important skills that employers expect to become more significant in the next five years. This implies that employers believe these abilities are crucial for their organization’s success, and they will be seeking candidates who possess them. The increasing prominence of these skills may be due to the changing nature of work and the increasing complexity of the job market, which requires individuals to think critically and creatively to solve problems effectively. Therefore, job seekers who possess strong critical thinking and problem-solving skills are likely to be more competitive in the job market in the coming years.
How much time do you have to reskill yourself?
A significant increase in the number of business leaders (94%) now expect their employees to acquire new skills while on the job, compared to 65% in 2018. The Future of Jobs Survey revealed that approximately 40% of workers will require reskilling within six months, with the consumer industry and health and healthcare industry having a higher percentage. However, the financial services and energy sectors will require more time-intensive programmers, resulting in a lower percentage of workers who can be reskilled within six months. The survey found that 39% of employers plan to provide training internally, while 16% of training will be conducted through online learning platforms, and 11% through external consultants. The COVID-19 pandemic has accelerated the trend of online reskilling, with Coursera observing a fourfold increase in the number of self-initiated learners seeking out opportunities between April and June 2021. Additionally, there was a fivefold increase in employers offering online learning opportunities to their workers and a ninefold increase in the number of learners accessing online resources through government programs.
Conclusion
In conclusion, reskilling is essential for both employees and organizations in today’s rapidly changing work environment. Reskilling can help employees stay up to date with the latest technologies and job requirements, while also improving morale and job satisfaction. For organizations, reskilling programs can enhance organizational agility and address skill shortages, while also promoting a culture of continuous learning and development.
rEFERNCES:
(Whiting, Kate. “These Are the Top 10 Job Skills of Tomorrow – and How Long It Takes to Learn Them.” World Economic Forum, 1 Oct. 2022, https://www.weforum.org/agenda/2020/10/top-10-work-skills-of-tomorrow-how-long-it-takes-to-learn-them),