The skills gap is so big that nearly half of workers will need to retrain this decade
The skills gap is so big that it’s one of the main barriers preventing companies from modernizing their business model, companies told WEF. There’s clearly a need for training and reskilling; to keep up with the fast-shifting landscape, WEF finds, nearly half (44%) of an individual worker’s skills need to be updated.
Rekindling US productivity for a new era
In October 2022, there were 10.3 million job openings according to the Census Bureau, but many business leaders complain of not being able to find qualified workers. At the same time, labor force participation rates have fallen to 62 percent from a high of 67 percent in the late 1990s, as workers are unable or unwilling to find work that matches their skills.
5 ways a ‘skills-first’ approach unlocks access to future jobs
For employers, a skills-first approach creates a significantly more robust talent pipeline and helps to address skills shortages.
Job interviews are a nightmare — and only getting worse
Employers are constantly finding new hoops for candidates to jump through.
Early career talent is trainable, eager and loyal
Tapping into early career talent can help companies fill positions faster
The skills-based organization: A new operating model for work
Skills based organizations are 107% more likely to effectively place talent
7 in-demand entry-level skills and traits
Employers know that entry-level applicants won’t have as much experience. The development of AI and automation means that softer skills—those that make us distinctly human—are increasingly important and highly valued
Fixing the global skills mismatch
There are huge gaps between the goals of education systems and the needs of business.
Cost-per-hire varies by how employers calculate budget
Cost-per-hire exceeds $6000 when including personnel costs
The 3 trends transforming your workplace
89% of bad hires lack soft-skills, decreasing team morale and overall productivity