CHANGING BUSINESS AND OPPORTUNITIES FOR EMPLOYER AND BUSINESS ORGANIZATIONS
March 28, 2019
According to a new study released by the International Labour Organisation (ILO) in collaboration with the International Organisation of Employers (IOE), fast-changing job requirements are leading to a yawning skills gap in many parts of the world, with India being one of the hardest-hit.
About:
Report name: Changing Business and Opportunities for Employer and Business Organizations.
Released by: The International Labour Organization’s (ILO) Bureau for Employers’ Activities (ACT/EMP) and the International Organisation of Employers (IOE).
The study is based on a detailed survey of hundreds of corporate executives, extensive research, and consultations with Employer and Business Membership Organizations (EBMOs).
Survey results:
Five trends that are radically altering global business models are: technological innovation followed by global economic integration, climate change and sustainability, demographic and generational shifts, and a global shortage of skilled labour.
The skills gap is a major issue, with 78% of corporate executives saying schools are failing to meet future employers’ needs.
By 2020 there may be a global shortage of 38-40 million highly skilled workers. 66% of Indian businesses say they are looking for quite different skills in new recruits than they were three years ago.
Another emerging challenge is the rise of automation. Informal jobs, typified by low productivity, face the largest threats due to this trend.
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