Article V: Addressing the Global Talent Crunch: a Necessary Shift Towards Future-Ready Competencies (FRCs)

By Shawn L. Dilly, PhD, Director General of Emirates National Schools

962 words - 3mins 15 seconds read

The rapidly evolving job landscape in today’s global economy presents a pressing challenge for both workers and businesses. The World Economic Forum recently reported that a staggering 44% of workers’ core skills are expected to change within the next five years. This impending reskilling revolution continues to confound businesses worldwide, as they grapple with talent shortages that are expected to worsen over time. Projections from a 2018 Korn Ferry study even anticipate that by 2030, over 85 million jobs will become vacant as baby boomers retire, potentially resulting in $8.5 trillion in lost revenue. The consequences of this talent crunch are forcing industries to explore innovative approaches to fill essential roles, with companies often resorting to developing their own educational and training programs. Unfortunately, this situation has been exacerbated by K-12 and higher education institutions’ inability to adapt to shifting workplace demands over the past two decades, which has contributed significantly to the skills gap.

While it is tempting to place all the blame for this on educational institutions, the global skills shortage is a multifaceted issue with numerous contributing factors. Nevertheless, it is crucial to acknowledge the bureaucratic hurdles that hinder schools in their attempts to swiftly respond to evolving workforce requirements. Educational institutions bear a shared responsibility in narrowing this gap, and one vital avenue is to prioritize competencies aligning with the future of work, or what we might term future-ready competencies. Some of these competencies, such as resilient flexibility, critical analysis, and communication, have been discussed in past articles, and are increasingly vital in the evolving job landscape.

The World Economic Forum has outlined the ten most important core skills in its Future of Jobs Report 2023, with a notable focus on those that involve collaboration with others. The report highlights two crucial skills: empathy and active listening, both of which are integral examples of what I refer to as human skills. I will delve deeper into the concept of human skills in an upcoming article. Additionally, the report emphasizes the importance of leadership and social influence. Furthermore, I must underscore the enduring significance of collaboration as a cornerstone for effective leadership and an essential element within the modern work environment. These competencies are evolving in complexity due to the rapid pace of technological change and its profound impact on the workplace landscape.

The advent of digital collaboration platforms has introduced unique challenges to leadership dynamics within the digital sphere. Cortellazzo et al. explored questions that are paramount in this context: How do digital tools such as social media and online communities influence the maintenance of ethical behaviour? How can we navigate the limitations of digital interfaces, which hinder interpersonal understanding and face-to-face interactions? Increasingly, leaders will need a combination of human and digital skills in order to effectively communicate, bring geographically diverse followers together, foster initiative, alter attitudes, and employ fast and complex problem solving.

These questions underscore the formidable and multifaceted challenges confronting leaders in in an era of digital transformation, in which traditional systems and approaches are becoming obsolete. They underscore the imperative for leaders to harness their social influence to its fullest potential in this digital realm. Social influence often manifests itself through dynamics such as conformity, compliance, and obedience within the workplace. Furthermore, it is essential to draw from the seminal work of Dr. Robert Cialdini, who described the six fundamental principles of persuasion as a cornerstone for comprehending social influence more effectively: reciprocity, scarcity, authority, consistency, liking and consensus. It is imperative to emphasise the significance of remaining relevant, authentic, genuine, flexible, and adaptable when applying these principles of social influence.

The surging demand for human and technical skills underlines the pressing need for educational institutions to adjust to these evolving requirements promptly. Unfortunately, the response from many schools has been inadequate, with only a limited number implementing substantial changes that can effectively equip students to navigate the challenges posed by these emerging realities. In some instances, there has even been resistance to embracing new technologies, as exemplified by the recent apprehension towards innovations such as ChatGPT and other large language model artificial intelligence (AI). Many educational institutions worldwide have outright banned utilisation of these cutting-edge tools, seemingly oblivious to the imperative need for a fundamental shift in their instructional methodologies to align with the demands of the future workforce.

It has become increasingly apparent that individuals’ ability to thrive in the years ahead will be closely intertwined with their willingness to embrace AI and seamlessly integrate it into their professional lives. Mark Perna’s recent Forbes article suggested that we look at AI as an enabler to work more efficiently and design approaches where AI and humans collaborate.Schools should take the lead in fostering this acceptance and instructing students on the adept utilisation of such technologies. This educational initiative should extend beyond mere acceptance, encompassing strategies to mitigate the learning curve associated with new tools, navigate the inherent uncertainties surrounding their adoption, develop effective implementation strategies, and address the ethical and moral considerations accompanying these transformative changes. By actively modelling and teaching these crucial skills, educational institutions can play a pivotal role in preparing an adaptable and ethically conscious workforce in the age of AI and technological advancement.

As the global workforce faces the imperative need for reskilling and adaptation to emerging job demands, the onus falls on educational institutions to cultivate future-ready competencies.

Collaboration, social influence, leadership, human skills, resilient flexibility, critical analysis, and communication have become indispensable in the digital era. Businesses, educators, and policymakers must work collaboratively to close the talent gap, equipping the workforce with the abilities required for the future of work. The journey towards a more talent-rich future begins with a commitment to preparing individuals for the challenges and opportunities of tomorrow’s job market.