Upskilling and Reskilling for a Future-ready Workforce
Tomorrow’s workforce needs to be smart, technology aware and always ready to pivot in order to succeed. Success starts with using the right professional training model – Technical and Vocational Education and Training (TVET) provides desirable and practical real-world skills.
Through a comprehensive analysis of research on vocational training across 22 countries, the European Centre for the Development of Vocational Training identified the benefits of TVET in increasing productivity, developing employees with tailored skills, and improving life satisfaction as well as economic stability.
New Zealand is a case study in this success. With a long history of vocational training linked with qualifications from academic bodies, New Zealand has shown how this system can benefit the individual, businesses, and GDP.
‘Vocational education has been a core part of New Zealand’s education system since the first apprenticeship legislation in 1865,’ says Bridget Dennis, Senior Vice President – Global Markets for Skills Consulting Group.
‘We were also one of the very first countries to implement an outcomes-based qualification framework in 1990, implementing concepts of lifelong learning by extending the education system beyond schools and into workplaces.’
When it comes to the future of work, the World Economic Forum’s (WEF) 2020 survey reflects that between now and 2025, on average, 15 percent of a company’s workforce is ‘at risk of disruption’. Increasingly over the next few years, the skills required by employees will continue to radically change, requiring an increase in problem-solving skills and responsiveness. TVET can help bridge that gap.
‘For example, in Hong Kong there is a huge demand for people with hard skills, such as engineers, required to work in environments very specific to the region,’ says Dennis. ‘According to the Construction Industry Council, manpower shortage is one of the most pressing issues facing the construction industry. ‘There is also room for soft skills development, like managerial and finance, to be undertaken in a real-world setting.’
Across big data, the latest trends recognise the relationship between job descriptions and skills. This is where TVET comes in. Certifications, paired with relevant skillsets equate to professional success – benefitting both organisations and their people.
“On-job learning is widely acknowledged as the most cost-effective form of learning for businesses. Increasingly, we are seeing industry move towards apprenticeships and/or internships,” says Dennis.
“Providing workers with ways to build their skills – a pathway into the world of both work and careers – is a key solution for both business and industry. Growing people through skills is what our workforces need to succeed.”
As training and development specialists, Skills Consulting Group (SCG) works across the Asia-Pacific and the rest of the world. Discover how we make a difference here.