This archive report was first published on 23 August 2019.
Reskilling: The New Trend in Fast-Changing Workplace Environment ¶
By 2020, many core skills in various professions are expected to change, making it essential for young professionals to acquire new skills or additional ones to sharpen their aptitudes.
According to a 2018 survey by PricewaterhouseCoopers, 38% of CEOs worldwide lack key skills, posing a significant threat to local business growth.
Matthew Sigelman, CEO of Burning Glass Technologies, emphasizes the importance of evolving employees before a company can adapt to the changing work environment.
Re-skilling, or retraining, involves modifying existing abilities to prepare for the future and excel in roles when change arrives.
Companies are investing heavily in training programs, especially in technology, to help employees adapt to the fast-changing workplace environment and achieve their individual goals.
Re-skilling takes various dimensions, including technology re-skilling, soft-human skills, and business and science re-skilling.
Equipping oneself with IT skills, such as basic data literacy and applying Artificial Intelligence in solving everyday problems, are practical ways to re-skill in terms of technology.
Soft human management skills, like effective communication, leadership, and adaptability, are also essential for professionals to discharge their duties effectively and improve their output.
Business and science re-skilling involves acquiring new skills in areas such as organisational design, and sales and marketing, which are critical to the smooth operations of any organisation.
However, training and re-skilling is not only necessary for working professionals but also for young people entering the job market, as they face high unemployment rates and a competitive job market.
Local enterprises, such as Jijali, offer free and fully-funded digital programs to train graduates and young professionals on how to kick-start their careers and businesses.
Through re-skilling, a graduate becomes job-ready, giving them an edge over fellow graduates who may not have undergone any training.
