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Dive Brief:
- Skills like risk management and project management are solid investments because the cost to develop these skills is high but the payoff can last as long as a person’s entire career, according to a Feb. 9 Skills Compass Report 2023 from Coursera and The Burning Glass Institute.
- “Thirty-seven percent of the average job’s skills have been replaced just over the past five years,” Matt Sigelman, president of the Burning Glass Institute, said in a blog post. “Such a breathtaking pace of change makes it very difficult to determine which skills to invest in or how different training options will pay off.”
- The report used data from more than one million people and millions of job listings to identify the top skills to invest in in the workplace based on time-to-skill, skill value and skill longevity.
Dive Insight:
Leaders time and again identify the skills gap as a hurdle in their businesses. Workers, they say, don’t have the skills needed to perform their open roles.
A Feb. 6 report by the National Skills Coalition and the Federal Reserve Bank of Atlanta found that while 92% of jobs require digital skills, only one-third of workers surveyed have the skills needed for those jobs.
Companies have launched apprenticeship and returnship programs, teamed up with universities and turned to mentoring initiatives to address the problem.
And research from the Association for Talent Development found workplace learning investment increased between 2020 to 2021.
