Several drivers, such as rapid digital transformation and the Great Reshuffle, are reshaping the labor market. Further, according to a World Economic ForumOpens a new window (WEF) report, about 85 million jobs could disappear, and 97 million new jobs may replace them by the middle of the decade. Employers, too, are expecting new skills from candidates. This means employees and candidates need to learn new skills that help them survive and stay relevant in the labor market. But it can be challenging to identify what skills need to be developed to stay ahead.
Coursera recently analyzed the data pertaining to the people taking its courses and created a report. The study also focused on three important skill areas: technology, business, and data science. The study found that each geographical region and country have specific needs and strengths in terms of skills. As such, governments and workforce and education leaders should focus on developing certain skills.
The following is a region-wise breakdown in detail.
See more: Top 10 In-Demand Tech Skills You Should Master in 2021
North America Is Primarily Focused on Leadership Skills
The study found that skills proficiency in the U.S. held steady this year but dropped in Canada. Hence, workforce leaders in Canada will have to increase their efforts to stay competitive.
In the U.S., as workers are being pushed out of old occupations and pulled into new ones, leaders have an opportunity to invest in training programs, leading to a stronger and more inclusive economy. The study also found that learners in the U.S. primarily focused on developing human skills, such as planning, project management, and decision making. As many companies offshore technical skills, it is important for learners to realize that in addition to digital skills, they need human skills to thrive. Employers should prioritize training programs that develop these skills. Another finding was that the U.S. remains behind the curve in math as learners scored at a 40% proficiency level in mathematics. As such, educators should look for ways to improve learner outcomes.
Economic and Climate Challenges in Latin America Present Opportunities To Invest in Skills
The Latin American and Caribbean regional economy is struggling. To avoid a long-term economic slowdown, regional leaders should prioritize workforce development across tech, business, and data science domains. Further, the Caribbean is outpacing South America. Hence, to grow sustainably, people will need skills that will support the region’s economic growth.Â
Specifically, in Brazil’s case, technological skills are the key to a resilient economy as the country is exposed to the economic harms of global warming. Tech skills have the potential to spread prosperity. The good news is that tech skills proficiency in Brazil rose from 48% last year to 72% this year. At the same time, the country can also benefit from climate tech. Education leaders should prioritize data science skills that power these solutions.Â
Mexico is another country in Latin America currently facing a shortage of overall skill development. According to the studyOpens a new window , the country tends to underperform in economic growth, inclusion, and poverty reduction. Part of the challenge is a lower level of skill development. With the country’s economy expected to grow, education leaders should focus on improving technology skills, especially AI and automation.
In the Asia Pacific, Regional Competition Will Push Countries to Prioritize Skills
The region is facing several economic challenges due to various factors. To weather these challenges, countries will require high levels of skill proficiency. It was found that countries like Singapore, Japan, and Indonesia have heavily invested in their human capital. Hence, they lead the region in skill proficiency. Countries that have performed well in skill proficiency should continue their investments.
Australia may find itself in a peculiar situation as geopolitical tensions rise in the region. The country may risk leaving itself open to global instability if it does not invest in skill development. Fortunately, the country rose eight ranks in skills proficiency year on year. It was also found that the country is focusing on improving digital skills. The government also scored high in data science and technology. Education leaders should continue investing in training to keep the skill proficiency levels high. Workforce leaders, too, should prioritize skills development in data science and technology.
In the case of India, the country is an important market for tech companies. The industry is also earning record levels of revenue. As such, workforce leaders should invest in the human and digital skills that will continue powering the sector. That said, the study found that the country lagged in data science skills. With multi-national tech companies looking toward South Asia as a significant market and job opportunities in data science rising, education leaders in the country should invest more in developing skills in this domain.
Europe’s Competitive Advantage Lies in High-skill Workers
According to a study by Insead, Accenture, and Portulans InstituteOpens a new window , eight of the ten countries with the most skilled workers globally are from Europe. As such, education leaders in the region should continue to prioritize training for high-growth, in-demand skills in business, tech, and data science.
Spain specifically is positioned to prosper. Hence, keeping pace with technological shifts, leaders should invest in workforce development, especially human and digital skills. It was also found that learners are over-represented in areas like bioinformatics, blockchain, and computer vision. Business leaders seeking to work in these areas should look to hire workers from the country.Â
On the other hand, the United Kingdom faces the most difficult economic circumstances. The country is also behind in workforce development. As such, workforce development leaders should make workforce reskilling a top priority. It was also found that the U.K. lagged behind most of Europe in tech skills. With tech companies on the upswing in the country, leaders should focus on skill proficiency in the tech domain. Further, the country also lags in human skills. To enable long-term sustainable growth, leaders should also prioritize these skills.
See more: Do Your Employee Skilling Initiatives Include Digital Credentials?
Skill Development Needed in the Middle East and North Africa as It Transitions Away From Fossil Fuel Economy
About 57% of learners from the region use mobile devices. Learners from the region, especially Sub-Saharan Africa, turn to mobile devices more frequently than others outside the region. Hence, the region is primed for an ed-tech revolution. Learners in the region also tend to score high on business skills but lower on tech and data science. By investing in development across all domains, the region can realize the outstanding potential for innovative entrepreneurship.
Specific to Saudi Arabia, as the country transitions to a more sustainable economy, the country is primed for digital literacy. According to WEFOpens a new window , the country was among the top 10 countries globally for digital literacy. Leaders should reinforce these strengths. Fortunately, the country’s leaders are investing substantially in technology skills. At 91% proficiency, learners in the country also demonstrate high levels of business skills proficiency. The country’s workforce leaders should find ways to build on this advantage.
The Way Forward
Each country and region has specific strengths and needs. Hence, to contribute to the overall development country on a macro level and an organization and the person on a micro level, development, education, and organizational leaders should emphasize developing the necessary skills. Further, they should also provide the right support and infrastructure for employees and job candidates to gain the appropriate skills and competencies, to enable future growth goals.
What skills are you focusing on when it comes to your employees? Let us know on FacebookOpens a new window , TwitterOpens a new window , and LinkedInOpens a new window .
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