“When the weather forecast says a hurricane is coming, we act. We take precautions for our own homes. We help our neighbors, and we join our efforts in local communities. We take joint responsibility because we are aware of the dire consequences if we do not act. I wish the forecast to invest in skills could be taken as seriously – that more people, companies, and societies would start to invest in skills, reskilling and lifelong learning. If we don’t, it will not only hamper businesses and the foundation for our economies. It could undermine our entire societal contract” (Peter Hummelgaard - Minister for Employment, Ministry of Employment of Denmark)
I. What is reskilling?
Reskilling - used in the context of acquiring a certain set of skills to perform a job that is different from the current one but still adjacent. Meaning that a new role will also benefit from the skills acquired in a previous role.
Examples:
II. Why is reskilling important?
Four main reasons:
#1 We are entering the Fourth Industrial Revolution phase that is already creating new jobs and new skills that one must acquire to be employed in the market:
#2 Effect of Covid19 pandemic on businesses urge companies to refine and redefine their businesses, which require that their employees have required skill sets to drive the business in the post-pandemic world:
#3 Reskilling opportunities at the workplace have a positive impact on employees’ job satisfaction, retention, and performance:
#4 Reskilling positively affects companies by giving greater returns on investment and help to attract top talents
III. What kind of trends are driving reskilling?
