Specialized skills in high demand

The enhancement of human abilities is also leading to more specialization. WEF’s survey showed that 44% of employers’ core skill sets will change during the next five years — the highest level since the start of the pandemic. Furthermore, technology adoption will have the greatest impact on the transformation of their business, according to 85% of those surveyed.

These indicators suggest we need more creative problem solvers adept in emerging and specialized fields, such as healthcare, climate change and environmental management and more. Randstad’s 2022 Global In-demand Skills Report highlights the strategy of hiring to train. For example, some companies hire programmers who possess a core set of capabilities and then give them additional skills to address future talent needs. This approach maximizes agility and flexibility while ensuring access to a robust candidate pipeline.

Jobs will become increasingly specialized as a result of technology. Consider auto mechanics, whose role has expanded to include software diagnostics and battery management due to more sophisticated and green energy vehicles. Similarly, surgeons accustomed to performing procedures with their hands may need to learn robotic technology to deliver remote care. Adapting to the changing nature of work is a valuable skill in itself, and it’s a mandate that billions of people must heed.

Specialization also offers tremendous benefits to talent. Because of significant churn in the labor market — the WEF predicts a 23% change in jobs created vs. jobs lost over the next five years — workers with a mastery of a particular field are more likely to have marketable skills than those with rudimentary skills. Moreover, specialists are likely to have greater earning potential as well.

Specialization is equally important to both white and blue collar workers, so there is an incentive for everyone to sharpen their skills. In fact, jobs that will experience the highest growth in the near future are non-office based, such as agricultural equipment operators, heavy truck and bus drivers, vocational education teachers, and mechanics and machinery repair specialists.

As the world of work continues to evolve and restructure, helping people prepare for what’s ahead will be a monumental task. Individual initiatives — whether from governments, the private sector or labor organizations — will not be enough. A coordinated and unified effort from all stakeholders is a must. Fortunately from discussions heard at last week’s Growth Summit, including one on what’s next for jobs, many are already collaborating to reskill and upskill millions of their constituents. And that may be the most encouraging news to come out of Geneva last week.

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