Demographics

There are fewer workers relevant to the digital age

The global workforce is struggling to keep up with skills that are relevant to today’s growth industries. In an interesting article from fenews.co.uk, they highlight the challenges in the UK from demographic trends and digital disruption. Research by Korn Ferry shows that more than three-quarters of the new technology businesses are struggling to the find new employees with the digital skills required for the new breed of industries.

The UK has an ageing population with the sharpest drop in the number of people in work in almost three years, but also that workforce increasingly lacks the skill set to meet the needs of growth industries. Educational institutions too often see the skills needed for the digital age as ancillary skills for which they can offer ‘money-spinning’ executive courses. Universities should embed such skills in undergraduate degrees. Equally, employers need to take what may be seen by some as the old-school approach and employ talent which they then make relevant the new digital age through on-the-job training.

The research by Korn Ferry shows that the problems of developing skills set for a digital age are a global phenomenon. There is much debate in the United States at the moment about how a very low-level rate of unemployment has not led to a rise in wage rates.  Also, there are mixed views as to why a growing percentage of the potential workforce that do not make themselves available for work. If workers don’t have the skill set to be relevant to today’s digital world it’s going to be difficult for them to push for higher wages or indeed find a job. Some potential employees have clearly given up.

This article was attributed and provided by PG International

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