Every two years, the World Economic Forum publishes a report called The Future of Jobs. In the report, the WEF talks about the labor market and what the future of work will look like for both employers and employees around the world. In particular, the report focuses on the jobs and skills of the future and how fast they’re becoming the jobs and skills of the present.
The 2020 edition of the Future of Jobs report explains how the health and economic shocks of this year have impacted labor markets and accelerated important technological trends. SkillUp Technologies already wrote about the main takeaways of the report for employers. In this article, we will distill the most important takeaways of the report for employees or those looking for work. If that’s you, read on.
You Have an Opportunity
2020 has been a scary year. We’ve all worried about the future, health, and safety of ourselves and our families. The COVID-19 pandemic both caused a severe economic recession and pulled forward technological trends that will disrupt many jobs. The report estimates that 85 million jobs may be displaced by 2025 because of advances in technology.
But there’s a flip side to the coin too. 97 million new jobs may emerge by 2025. Despite popular opinion, technological advances are still creating millions more jobs than they are disrupting. The difference is that these new jobs will be in entirely new occupations or will require you to learn new skills.
This is where you have an opportunity. Many businesses might have ground to a halt, but that doesn’t mean you should. In today’s online world, it’s never been easier to learn new skills, no matter how technologically advanced these skills seem and even if you have no prior IT skills. There are many introductory courses in fields like artificial intelligence (AI), machine learning, the Internet of Things (IoT), blockchain, and more that will put you on the path to becoming an expert in your newly chosen field.
Employers Expect You to Learn
If you’re already employed, there’s a good chance your employers provide some form of educational programs. Unfortunately, many employees don’t take those courses. The report says that only 42% of employees take up employer-supported reskilling and upskilling opportunities. So if your employer offers you courses, be sure to take full advantage of them.
Of course, there’s an even higher chance that your employer does not provide any reskilling or upskilling opportunities. That means you have to take matters into your own hands. In fact, your employer might expect you to. 94% of business leaders report that they expect employees to pick up new skills on the job, a number that’s increased from 65% in 2018!
Because of the pandemic recession and technological advances, those who don’t reskill or upskill are likely to struggle to retain their jobs. This needn’t be you. Regardless of what your employer offers, learning new skills or improving existing skills will make your future and the future of those who depend on you more secure.
There Aren’t Enough People With the Right Skills
Even though many people are currently without work, employers are struggling to find the right talent. There are an enormous number of incredible jobs in emerging professions that don’t get filled, simply because there aren’t enough people with the right skills. This is particularly true for green economy jobs and roles in AI, big data, engineering, cloud computing, and product development.
If you’re willing to switch jobs to an emerging profession and if you’re willing to reskill and upskill, many employers will welcome you with open arms. Even if you’re employed and happy with your work, you’ll need to learn new skills. The report estimates that around 40% of employees will require some form of reskilling within the next six months or less.
The most important takeaway from the report is that your willingness and ability to learn new skills and expand your existing skills will determine the course of your career. Even in today’s difficult environment, your opportunity is bigger than ever. Employers need people who have the right abilities for emerging professions and you can pick up those skills online, often for free.
This is where SkillUp Online comes in. Our platform provides you with the best courses in emerging fields such as AI, data science, blockchain, cybersecurity, and more. Whether you are an experienced IT professional or have no experience in IT, we have a course that can put you on the right track and place you into a labor market where opportunities are plenty. Happy learning!