Access to an extensive amount of data, from social media, online browsing, and an increasing number of mobile devices, make it feel as though things are moving faster every day. To gain and maintain an advantage, governments and businesses must increase their ability to react, transform, and improve.
Any governments can invest in advanced technologies but creating a workforce that’s ready to use them is a greater challenge. Success requires workers who can understand data, serve customers across virtual and physical interaction points, and keep up with changing software languages. A global survey of 4,300 managers and executives shows that 90% of workers feel the need to update their skills annually just to compete.
Three strategies are recommended to create a more educated workforce:
Upskilling is the practice of teaching employees how to use new tools and
practices that will help do their jobs better or faster and ensure that the
expertise is being put to the best use as new tools and technologies emerge.
Reskilling is a form of education focused on helping employees make career
transformations by learning new tools and practices to gain an ability to changes jobs entirely. This can be a significant cost saving when compared to the cost of severance, recruiting, and onboarding new employees.
Government Investments should focus on a multifaceted infrastructure for
lifelong learning and education.