Expanding and updating skills and potential are now crucial when it comes to staying relevant in the world of work. Whether through upskilling or reskilling, workers need to nurture their learnability and continue life-long learning throughout their career in order to stay employable.
This is even more important in light of the conclusions of the World Economic Forum held in Davos last January, which predict that by 2020, more than a third of the core skill sets in most professions will be comprised of skills that are not considered essential to the job today.
Businesses must act now by addressing the gap between those with skills and those without (the Haves vs. the Have Nots) to ensure that they can continue to meet their talent needs in the immediate future.
The labour market has become “distorted” and needs recalibrating. While its former constituent elements are breaking apart, a new, 21st-century world of work is beginning to emerge. In a report entitled Human Age 2.0: The Future of Work, ManpowerGroup calls for a change in how we think of work and its market.
Drawing on observations and analyses, this white paper proposes strategies for navigating this transformational period in the world of work and for exploiting existing opportunities in order to emerge stronger and robust enough to stay the course and continue to perform in the future.
The various eras of history were first defined by the raw materials being worked by early humans – the Stone Age, the Bronze Age, the Iron Age – and then by the fields of knowledge acquired by virtue of their technical advances – the Industrial Age, the Space Age, the Information Age. We are now entering a new epoch: the Human Age.
This era of the human is founded on a common constant: whereas companies used to have to secure capital in order to grow, nowadays this is no longer enough, because it is expertise and talent that will drive a business forward. Being able to access and tap into that talent is thus becoming the most important competitive advantage a company can hope to gain.