There are 56 Foundational Skills that will help employees thrive in the Future of Work

?? There are 56 Foundational Skills across 13 skill groups and 4 categories (Cognitive, Interpersonal, Self-leadership and Digital) that will help employees thrive in the #futureofwork and researchers identify distinct areas of talent (DELTAs) that fall within these #skill groups and tested them out, according to a new interesting research published by World Governments Summit in partnership with 麦肯锡 called "The Skills Revolution and the Future of Learning and Earning" using a survey of 18,000 people in 15 countries.

? Researchers agreed that the DELTA framework is only one effort to define and detail a granular set of skills around which students, educators, companies, and policy makers can mobilize. Researchers found that the possibility of multiple iterations, with applications at different stages of the #learning journey.

?? Since past years, companies are building their learning portfolios, with 10 common skills emerging and are largely focused on developing Social, Emotional, and Advanced Cognitive Skills, according to a #research published by 麦肯锡 in?2021, using a survey of 700 business executives.

Demand for social and emotional skills such as #leadership and managing others will become more important in an increasingly digitalized world. These are intrinsically human #skills not easily replicated by machines.

?? Research estimates that demand for these skills will rise from 18% of hours worked to 22% by 2030.

Cognitive skills will also be in demand, with demand shifting from basic to higher-level #cognitive skills such as creativity, complex information processing, and critical thinking.

??? With the rapidly evolving nature of work, skills have an ever-decreasing shelf life. By one measure, skills lose half of their value every five years.

? Researchers suggest that work experience contributes between 40-60% of an individual’s overall #humancapital value. And they also found that skills derived through experience account for 60-80% of lifetime earnings for those who move up but only 35-55% for those who stay flat or drop down.

Researchers determined the ‘Skill Distance’ of the move, the share of distinct new skills required in the new role and found that the average skill distance per role move is 25% or more.

?? 30-40% average skill distance of role moves made by people who advance into higher earning brackets and 20-30% average skill distance of role moves made by people who didn't advance.

?? Finally researchers conclude that foundational #competencies are the prerequisites for further learning and acquisition of future skills. They enable learners to fulfill their potential to become productive #workers engaged citizens, and contributors to society. By focusing on changing their approach to hiring, embracing #mobility for employees in their #workplace and strengthening #coaching and on-the-job training, particularly early in an employee’s tenure, companies can establish themselves as great learning organizations and magnets for #talent

Thank you ?? World Governments Summit researchers team for these insightful findings:? Stephen Hall Dirk Schmautzer Safia Tmiri Hiba I. Emma Dorn Shajia Sarfraz Peter Gumbel Shubham Singhal

#peopleanalytics?Dave Ulrich?George Kemish LLM MCMI MIC?#futureofwork?#job?