4 Ways to Bridge the Global Skills Gap - Deepstash
4 Ways to Bridge the Global Skills Gap

4 Ways to Bridge the Global Skills Gap

Curated from: hbr.org

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The global youth employment crisis

The global youth employment crisis

The global youth employment crisis has implications for social stability and equality that exceed anything we have experienced in our history.

1.3 billion youth are about to attempt to enter the workforce. As more entry-level jobs are automated, businesses and policymakers need to work together to ensure young people have the skills they need.


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Jobs historically held by the young are at risk of being automated

  • 36% of CEOs said they were focused on improving productivity through technology and automation.
  • Nearly one-quarter of youth ages 18 to 24 stopped working during the pandemic, and many others had their hours and income slashed, likely because they were working in highly affected sectors.
  • Four high-impact actions governments and businesses can take to reverse the trend.


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Understand what skills your organization or country needs

  • Build a pipeline of workers suitably trained for the future labor market that requires both digital and relational skills.
  • National skills maps should include standardized definitions and methods that measure whether or not a skill has been learned.
  • Leverage corporate training outside of corporations.
  • By pairing elements from best-of-class corporate programs with a government-led national policy framework, stakeholders can jointly help establish a high-quality national skills development program that is germane to national and local populations and efficiently achieves scale.


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Build a national digital skills verification trust

Creating a global or national verification system enables employers to identify the most useful skills for their current employees and set up new hires for success by indicating what additional training they should consider.

A national system built on a technology platform such as a distributed ledger or Blockchain will help employees track and store their skill base and provide employers with a trusted and easily verifiable assessment method.


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Philanthropic investments and layouts help, but do not address the core problem

Insight, access, and trust

These are informational problems that can be addressed by concerted, large-scale investments in skill mapping, measurement, verification, prediction, and development engines

The means for building out these platforms are all at hand, and much promising work has already started


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