Skills Are the New Currency
At the World Economic Forum’s 2017 annual meeting, ManpowerGroup is focused on three themes that are shaping global labor markets in the Human Age:
Learnability: The desire and ability to quickly grow and adapt one's skill set to remain employable throughout their working life matters today more than ever. What type of learner are you? Find your Learnability Quotient™.
The Skills Revolution: As digitization reshapes work, helping people upskill and adapt to a fast-changing world of work will be the defining challenge of our time. Explore »
Gender Parity: The industries most affected by AI, digitization and robotics could disproportionately impact women. Learnability will be the great equalizer — how can we ensure we have an upskilled and future-ready female workforce? Explore »
At ManpowerGroup we believe meaningful and sustainable employment has the power to change the world.
That’s why our Sustainability Plan is built around learnability and employability: helping people develop the in-demand skills to be employable for the long-term. We focus on getting people Ready for Work, helping them stay relevant by Skilling Up, and promoting Diversity in Integrated and Inclusive workplaces.
ManpowerGroup and the World Economic Forum
ManpowerGroup has been a strategic partner of the World Economic Forum for 13 years, engaging in global and industry events, initiatives, dialogues and communities. Our leaders are actively involved in the Future of Education, Gender and Work Global System as well as the Digital Transformation Initiative, the Europe Regional Business Council and the Professional Services Industry group.
Skills Disruption or Destruction?
Rarely a day goes by without news of digitization, artificial intelligence and virtual reality impacting the workplace. Change is happening at an unprecedented scale and the lifecycle of skills is shorter than ever.
Those with skills will increasingly call the shots, create opportunities and choose how, where and when they work. Those without will look to the future and wonder how their circumstances will improve.
Though we cannot slow the rate of technological advance or globalization, we can invest in employees’ skills to increase the resilience of our people and organizations.
Impact of automation around the world
As technology advances certain skill sets become redundant, but new jobs are being created too. It is estimated that 65% of the jobs Generation Z will perform do not even exist yet. Globally, 83% of employers expect to maintain or increase their headcount as a result of automation in the next two years; only 12% expect a decrease.
Learning While Earning
In the Skills Revolution, the value we place on different skills will change. Digitization and growth in skilled work will bring opportunities, as long as organizations and individuals are ready.
As skills needs change, employers will need to focus on reskilling and upskilling people more than ever before to address today’s talent shortages and anticipate the demands of tomorrow. Organizations will need to know their workforces better than ever to take advantage of skills adjacency, agility and learnability.
Impact of Digitization on the Professional Services Industry
The Professional Services industry is approaching a tipping point, as disruptive technologies drive fundamental business changes, according to a study developed by the World Economic Forum’s Digital Transformation Initiative, chaired by ManpowerGroup’s CEO, Jonas Prising.
Faced with shrinking labor pools and growing skills shortages, employers need to maximize every available talent source. It is time move from simply talking about diversity to taking real action that achieves real results.
That means establishing a culture of conscious inclusion — building the desire and capacity to make decisions, do business and act with the conscious intent of including underrepresented talent at every level.
Whether it’s gender, race, age, sexuality or nationality, building a diverse workforce leads to better decision-making and better results. Read our report, Seven Steps to Conscious Inclusion: A Practical Guide to Accelerating More Women Into Leadership.
The Uneven Impact of Automation
As technology changes skills needs, it is posed to have a disproportionate impact on industries with a higher concentration of minorities and women. The World Economic Forum estimates that whereas men may face nearly 4 million job losses and 1.4 million gains, women will face 3 million job losses and only 0.55 million gains — more than five jobs lost for every job gained.
Does the Next Generation Have the Answers?
Millennial women think it will take at least two more decades to reach gender parity in the workforce. While gender roles are evolving in many countries, women remain more likely than men to take career breaks to care for parents and children.
Organizations will need the policies to accommodate different priorities, in order to retain and attract top talent.
Developing Women Leaders
Organizations need to patch their leaky talent pipelines, to ensure more women make it into senior roles. Though many countries today have more women graduates than men, only four countries in the world having equal numbers of male and female legislators, senior officials and managers. The skills revolution will require us all to do better.
Chairman & CEO, ManpowerGroup
- Outlook for Jobs 4th Industrial Revolution, Panelist (CNBC) 18 January, 11:15 - 12:15
- Catching up with the New World of Work 18 January, 16:45 - 18:00
- Technology's Impact on the Workforce, Panelist
- Europe Regional Business Council: The Future of Jobs in Europe, Co-Chair
- Education, Gender & Work Stewards, Co-Chair
- Shaping the Future of Work & Employment
- Catching up with the New World of Work
Executive Vice President, Global Strategy and Talent, ManpowerGroup
- Workplace Experience Matters: How leading companies drive success, boost productivity, enhance culture and attract the right talent
- Shaping the Future of Education & Skills
- Shaping the Future of Gender Equality