The digital transformation of industries has brought about massive shifts in the world of work. Organizations across all sectors, from agribusiness, finance and manufacturing to media, are evolving into technology companies. In this context,
'employability' is not just about 'soft skills' such as communication, collaboration, critical thinking and emotional intelligence. As digital platforms in AI applications, robotics, and the Internet of Things make inroads into the workplace, employability
skills will be increasingly centred around using these digital technologies at work.
The global war for skilled talent has led to massive opportunities for some workers to move across jobs, industries and countries. The normalization of remote work accelerated by the COVID-19 pandemic and powered by digital technologies for
collaboration has made it possible for top talent to glide across jobs or be in multiple jobs at a time. Research predicts that today’s youngest workers will hold twelve to fifteen jobs in their lifetime.
The rise of platform companies has fundamentally changed the rules of employment. Companies such as Uber have created work opportunities for around 5 million drivers worldwide without signing a single driver employment contract.
The gig economy has opened up opportunities for individuals and companies to access a diverse and global pool of talents to get tasks done on demand - as well as undermining many of the structures that have underpinned employment security.
Faced with the need to deliver short to medium-term results, companies are increasingly hiring for skills backed with experience, and less for potential. This has led to a decline in graduate recruitment. Many employers are eliminating degrees from
their hiring criteria in favour of skills assessment. Only 11% of business leaders “strongly agree” that students are graduating from higher education with the necessary competencies. This has led to calls for higher education reform.
A new study shows just how beneficial remote working can be Despite capital flow to many emerging markets, several industries remain informal, fragmented, and dominated by Small and Medium Enterprises (SMEs), which create 7 out of 10 jobs.
Irrespective of the market, industry and approach, the pursuit of efficiency in companies prioritise retention and hiring of employees with skills and competencies that contribute directly to the bottom line.