54% of all employees will require extensive upskilling or reskilling by 2022
Source: World Economic Forum
What the Next 20 Years Will Mean for Jobs – and How to Prepare
We need to take the right steps to ensure there will be skilled talent to fill future work. Here are some recommendations that could guide us positively to the next 20 years.
How can we retain high employment during fast technological change?
Stephane Kasriel, CEO, Upwork states that AI will ultimately create more work, not less, but if we don't take the right steps, there will be a shortage of skilled talent to fill those jobs. Here are some recommendations that could guide us positively to the next 20 years.
- Rethink education. Build a system and a culture for lifelong learning where education is accessible throughout one's working life. We need training for new job openings and upskilling current employees. Skills - not college degree - will be what matters.
- Change worker protections from a safety net to a trampoline. E.g., low-cost or subsidized skills training; universal basic income.
- More flexibility to ensure all people can work. E.g., option to work from home; set their own schedules.
Source: World Economic Forum blog. Full article can be found here.
- 95% of the US workers who are expected to be displaced in the next decade can be transitioned to new positions with similar skills and higher wages. But the total cost of reskilling is $34 billion - an average of $24,000 per displaced worker.