Workers and Companies Face Irrelevance Without Immediate Reskilling
Express Employment International
To help as many people as possible find good jobs by helping as many clients as possible find good people.
A few years after one of the hottest job markets in decades, which led to soaring wages and opportunities for job seekers, stabilizing economic conditions are allowing businesses to reassess their operations, including headcount.
Job seekers are feeling the shift: 31% fear losing their jobs before finding new ones, according to a recent Express Employment Professionals-Harris Poll survey. A similar study from the Federal Reserve Bank of New York also shows rising job seeker uncertainty, with fewer people employed, a record number looking for work, and a higher likelihood of unemployment.
So, if unemployment remains relatively low at 4.3% and the U.S. currently has 8.2 million open jobs, why are so many job seekers saying they aren't receiving offers?
The skills mismatch.
The jobs of yesterday are not the jobs of tomorrow, especially considering the new kid in town — generative AI.
According to the World Economic Forum, 44% of workers’ skills will be disrupted in the next five years with cognitive skills at the top of the ideal candidate wish list for recruiters. A similar 2023 Express-Harris Poll survey found hiring managers deem dependability, work ethic, and a willingness to learn absolutely essential.
Just as I tell myself the 1970s were “only” 30 years ago, the next five years will be gone in the blink of an eye, and the skills mismatch will either continue to worsen or businesses and individuals can invest in reskilling today.
I’ll be the first to admit that finding the time to reskill or upskill can be daunting, especially heading into the busyness surrounding the end of the year. Kids’ activities, work obligations, and holidays dominate schedules. But with increasing competition for employment, job seekers can’t afford to wait.
Fortunately, short, focused certificates or courses, known as microcredentials, are flexible and efficient training options widely available in-person and online. Instead of, or in addition to, higher-education degrees, microcredentials focus on specific skill sets such as accounting, business management, anatomy and physiology essentials, and drilling basics. Some are even stackable to achieve associate and bachelor's degrees.
Several companies also offer certificates and microcredentials for the general public, like Google and LinkedIn. For example, Google offers certificates for data analytics, cybersecurity, IT support, and more through the Coursera platform.
At Express, we are proud to be part of the skills mismatch solution by offering our own training and certifications: ·
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Before committing to microcredential coursework, research how to demonstrate proof of completion for a future employer. Often, programs will issue a unique digital badge from third parties such as Credly or a competency-based transcript. Digital badges can be added to your LinkedIn profile or resume.
Microcredentials appear to be gaining traction as 77% of hiring managers in the 2023 Express-Harris Poll survey said they are just as valuable or more valuable than traditional degrees, and 81% agree they provide the workforce with skilled workers in a timely manner.
On the employer side, shrinking budgets are elevating reskilling urgency, providing a way to fill roles without hiring new talent.
Sixty-eight percent of hiring managers say they plan to reskill employees this year—a 13% increase since 2021. The most popular reskilling option is to offer company-led training programs (71%) followed by on-the-job training by other employees (62%) or third-party training courses (46%).
Jumping on the AI train, 16% say they will use artificial intelligence to help train workers.
Whether you choose to completely overhaul your skill set or close gaps in knowledge, as H. Jackson Brown, Jr. said, “The best preparation for tomorrow is doing your best today.” The future of work is here, and you don’t want to get left behind.
This editorial was written by Bill Stoller, Chairman and Chief Executive Officer of Express Employment?International.
Express Employment International supports the Express Employment Professionals franchise and affiliated brands, including Specialized Recruiting Group and Express Healthcare Staffing. The Express franchise brand is an industry-leading, international staffing company with franchise locations in the U.S., Canada, South Africa, Australia and New Zealand.??