Reskilling Revolution is upon us

A growing number of new jobs are being created by the Fourth Industrial Revolution, which offers a tremendous opportunity to meet people's aspirations. Still, a dominant trend and narrative remains unequal opportunities, job displacement, and increasing inequality at the present time.?

“Today our world is in radical and disruptive change –?never seen before, called the 4th Industrial Revolution. It fundamentally alters every aspect of our lives, business, economy, environment and society.?It changes everything – in scale, scope, and complexity it unlike anything humankind has experienced before.” as Henrik von Scheel explains.

By 2025, half of the global labour force may need reskilling. If current trends continue, many students will lack the skills they will need to thrive in the future of work. There is a rise in social unrest across the industrialized and developing worlds, labour markets in flux as a result of the pandemic, technological disruption, and a green transition taking place. By mobilizing worldwide mass action on reskilling, upskilling and education transformation, collaboration between the private and public sectors can advance an entirely different agenda, enhancing people’s futures and global economic prospects.

Whether it's artificial intelligence or climate technology, the world is changing at a dizzying pace.

As a result of economic and geopolitical factors, global labour markets have diverged, with high-income countries experiencing tight labour markets and low- and middle-income countries facing higher unemployment than before the pandemic. With the evolution of the job market, people with basic education levels and women are facing lower employment levels and lower real wages.

Students in traditional education are not being prepared for a future of rapidly changing employment demands.

• Education 4.0 reimagines education as an inclusive, lifelong experience, with learners taking responsibility for skill-building, and teachers and mentors acting as facilitators.
• In order to foster Education 4.0, existing educational systems must be upgraded and invested in.
• Students must acquire problem-solving skills, collaboration skills, and adaptability skills as part of Education 4.0. It may seem contradictory to the digitalization, however the low success rate of ongoing digital transformations indicates a continuing and even increasing need for soft skills.

In Education 4.0, educators and mentors facilitate and enable learners to build their skills as they view education as inclusive and lifelong.

We need to ensure that students, parents, educators, and the business community are prepared by investing in and upgrading existing education systems to prepare them for the jobs of the ever-evolving future in collaboration with government and non-government agencies. Here are the three key skills that should be a part of each student's personal curriculum:

1. Problem-solving

What does problem-solving really mean? It is at the top of every university's and company's must-have skillset, but what does it mean? A competent problem-solver approaches problems with curiosity, ready to take on the challenge. When students study the situation or ask questions to determine its root cause, they collaborate with others to brainstorm potential solutions, experiment and test solutions on a small scale, review the results of these tests, scale up the best solution, and monitor it to ensure that it does indeed solve the problem. The process builds and relies upon the building blocks of problem-solving: creativity, data analysis, perseverance, and critical thinking.

2. Collaboration

Collaboration is about working well with others, sometimes as a leader, sometimes as a member. Those who collaborate show a willingness to change their minds when confronted with evidence that contradicts their initial beliefs, and they are influential when combining good data with effective persuasion. A good collaborator builds relationships with people of all personality types, working styles, and backgrounds, lowering tension and resolving conflicts within a team quickly. Whether communicating with a person, on camera, via audio, in writing, or while actively listening, they are respectful communicators.

3. Adaptability

Adaptability has been underrated for a long time because it is a tricky concept to define. The ability to adapt lies in the ability to make effective decisions, develop innovative solutions under pressure, and cope with uncertainty, sudden changes, and unfamiliar circumstances. A youth who is adaptable can easily transition from following to leading and back again. They enjoy learning new topics, mastering new skills, and testing themselves.

Industry realities align with the envisioned Reskilling Revolution.

A company's supply chain has always been an integral part of its success, but its importance has only recently begun to be recognized. A poorly functioning supply chain threatens businesses' success, so there has probably never been a better time to be in this position.

There are many paths to success in supply chain management. A framework of competency development known as CHAIN has emerged through discussions with leading CSCOs and COOs. As part of the CHAIN Leadership Model, the following skills are developed:

In conclusion, the World Economic Forum's Reskilling Revolution is a timely and necessary initiative to address the challenges of workforce transformation in the face of rapid technological advancements and changing industry realities.

As organizations increasingly rely on technology and automation, reskilling and upskilling employees become more crucial than ever to ensure that they remain relevant and competitive.

This revolution presents a unique opportunity for employers to take a more active role in equipping their workforce with the necessary skills to succeed in the future of work.

By prioritizing reskilling and upskilling programs, companies can attract and retain talent, increase productivity, and drive innovation. The Reskilling Revolution is not only a social responsibility but also a sound business strategy for long-term growth and success.

Are you ready to join the Reskilling Revolution and unlock the full potential of yourself and your workforce?