This report by the World Economic Forum, in collaboration with Boston Consulting Group, explains that while current discussion of the future of work emphasise the urgency of reskilling and life-long learning, few approaches exist to help identify productive ways of planning job transitions that can minimise strain on companies' workforce strategies, public finances and social safety nets, as well as the affected individuals themselves. The report introduces a new approach to mapping out job transition pathways and reskilling opportunities, using the power of digital data to help guide workers, companies and governments to prioritise their actions, time and investments on focusing on reskilling efforts efficiently and effectively. For employers, it highlights that relying soley on new workers entering the labour market with the right ready-made skills will no longer be sufficient. It notes that while predicting the exact nature of the demand for skills is impossible, research has shown that across a wide range of scenarios, investment in workforce reskilling and human capital development is a 'no-regret action' - that is, it will be a beneficial investment even the absence of skills shortages.
