Get Skilled or Die Part III
In many parts of the world economic growth is slow and showing signs of continued weakness. People are concerned about job security, as unemployment remains high in many countries.
In a slow growth environment cost savings come largely from greater efficiency and productivity gains and such benefits have now been exhausted in many companies.
As a result, there is a need for a new business model based on growth through innovation to ensure companies create and retain as many jobs as possible.
The only way to address the high levels of unemployment is to generate sustainable growth, rather than the current slow rate of growth that afflicts so many economies.
The development of growth would improve the economy and address the high levels of unemployment, at least in relation to those people with the right skills.
A key issue for government in this scenario is, however, the resultant shortage of high skilled workers needed to meet demand from expanding businesses and business sectors.
This may seem like a simple issue to address but there are a number of challenges, if governments are to increase employment levels to the extent needed. The challenges include:
– public funding will continue to reduce and force organisations to be more efficient and flexible
– markets will continue to become more international, as globalisation forces employers to look outward for the skills they need
– jobs will be created and retained in the economy but unevenly spread and only available to those with the right skills
– people without the right skills will need specific and targeted support and retraining to enter and remain in the workforce
– jobs are becoming increasingly short-term and so flexibility and the ability to be mobile will become more important among employees
– the use of technology will continue to increase and employers will expect greater levels of initiative and independence from staff
Traditionally, economic recovery benefits everyone but this time it seems different, as employers differentiate between staff with the right skills and those without.
So, there will be jobs in the future and, ironically, plenty of them but they will require the right skills and only people with such skills will benefit.
What do you think? Do you have the right skills? Get in touch, we would love to hear your views contact Nick on 028 8224 9494 or via Twitter @nick_oec.
