Responding to shifts: the need to reskill

Employment is important. We spend most of our days at work, but history shows that there are various jobs that, in the long term, end up obsolete.

This happens because the requirement for certain expertise diminishes, or disappears altogether, due to various factors such as changes in demand and, especially, changes in technology. The Industrial Revolution brought about great change in the past and we are living through another revolution now, characterised by the internet, automation, robotics, and artificial intelligence.

While we cannot hinder progress, we can engage in positive action by investing in reskilling. This is crucial if we want to live in a more sustainable world. We need a paradigm shift in the way we adapt our skills to the requirements of the future economy. The difficulty in this task lies in the fact that today’s industry, which goes by the moniker Industry 4.0, calls for emphasis on narroweddown specific skills and trades.

There is a need for educational institutions to be more agile in order to keep up with changes in labour market demands. This is no easy enterprise, especially in ageing populations such as in Europe. The answer lies in lifelong learning and reskilling.

This can be further appreciated by taking a look at the trends in the labour market as a result of the continuous breaking of technological barriers. By 2022, 133 million jobs are expected to be created globally, while 75 million jobs are expected to cease to exist or be replaced. Furthermore, Industry 4.0 not only influences the demand for skills, but also the way we think and act at the place of work. We are already in times where machines do most of the thinking in identification processes, recruitment and decision-making.

Preparing for this shift is not solely incumbent upon educational institutions and governments. The private sector must also invest heavily in this regard. Reskilling and retraining of at-risk workers calls for a collective effort in investing, sharing best practice and tapping EU funds to collaborate on degree programmes and other educational initiatives. Potentially, all of these will deliver economies of scale and relieve pressure off workers, especially on those over 40 years of age, who are concerned with their job’s sustainability.

Sectors which feature high growth, and are more prone to the need for re-skilling, should be driven by a strategic mind-set which takes into account the fact that industry does not live in a vacuum.

It is important to recognise that low skilled workers are not the only ones in need of reskilling. New technologies drive change and no sector is spared from this phenomenon, no matter how highly skilled those working within it are. Particular attention should be given to vulnerable groups, with the highest risk of ending up with an obsolete skills set, who may find it more difficult than their peers to seek and receive re-skilling.

It is the responsibility of one and all that disadvantaged people are not short-changed by being denied a fair chance to seek opportunities. After all, exclusion is the antithesis of sustainable development.

We need to look at the bigger picture, whereby governments collaborate with private industry to bring about reforms, after identifying which jobs will die out and the type of work emerging. We should be proactive. Perhaps, a closer look at the way our businesses work, and what to expect in the future, especially in terms of foreign direct investment, will help in preparing our nation’s skill set. Investing in people can transform them from passive observers of disruption to active leaders of positive change.