Orient - The Official Magazine of the British Chamber of Commerce Singapore - Issue 71 April 2019
Skills – The New Currency of Work
The modern digital era has brought emerging technologies to the forefront at a rapid pace, not experienced before. This has led to growing concern from business leaders that the global workforce is not able to keep up with the current rate of change and effectively harness the collective intelligence of the augmented workforce.
Deloitte Global and the Global Business Coalition for Education predict that, by 2030, more than half of the almost two billion youth worldwide will not have the skills or qualifications needed to participate in the workforce.
The skills challenge is compounded by the fact that some skills learned today only remain relevant for as little as two years, with many in the workforce today being left behind and unprepared for the future. According to the World Economic Forum’s Future of Jobs report, reskilling is the top priority for organisations looking at their future workforce strategy.
The model of “learn at school” and “do at work” is no longer sustainable and continuous reskilling and lifelong learning must be integrated into the flow of work as a strategic imperative in the interest of future proofing careers and businesses.
Activate Future Readiness Today
Business leaders who take a long-term view of technology investments in order to activate the collective intelligence of the augmented workforce are leading in driving business value at an unprecedented speed. Their organisations are growing faster than their counterparts and they are more capable and confident in their ability to mobilise the collective action necessary across the internal and external ecosystem to succeed in today’s digital world of work.
About the Author Nicole leads Deloitte’s Future of Work Centre of Excellence and is a passionate pioneer driving transformational disruption and sustainable organisational change. With more than twenty years of cross-industry experience in Information Technology Services, Talent Strategy and Advisory, and Mergers & Acquisitions, Nicole works with individuals, businesses and governments, helping them to reimagine their future vision and adapt to the new realities of work in today’s digital age by activating new work, workforce and workplace models.
ABOUT THE COMPANY Deloitte is a leading global provider of audit and assurance, consulting, financial advisory, risk advisory, tax and related services. Our network of member firms in more than 150 countries and territories serves four out of five Fortune Global 500® companies. Learn how Deloitte’s approximately 286,000 people make an impact that matters at www.deloitte.com.