The Fourth Industrial Revolution
The Fourth Industrial Revolution ‘is progressing at 10 times the speed of the first and having 300 times more impact’ (McKinsey)
The key to balancing the labour supply and demand is allowing people to develop and measure Transversal Competencies. These are competencies transferable between different jobs which enable people to function well in many contexts. This in turn helps people to keep up with changes in the job landscape.
McKinsey say; ‘Within 10 years, 45% of today’s jobs will be changed by automation, with millions of new jobs created.’
Formal learning is not keeping up with the speed of demand for people to learn new competencies to keep pace with the job market. People are therefore learning these competencies informally but these gains are not measured.
There are plenty of people who can do things and there are plenty of jobs but there is no way of measuring these ‘intangible competencies’, now known as Transversal Competencies.
This causes The Skills Gap which companies urgently need to resolve.
Assessing Transversal Competencies
This helps people to understand their valuable competencies and assess them against jobs as well finding out which competencies they have even from historic formal learning.
Tools and data for organisations support performance development, learning, talent management and recruitment as well as making substantial savings in operating costs.
Measuring Transversal Competencies is a way of balancing the supply and demand of the labour market, providing free learning and competencies for everyone in a lifelong competency profile.
This is the solution to the Skills Gap and producing real opportunities in emerging economies.