In this rapidly changing work environment, upskilling allows organizations to close the talent gap and fill new and open positions while maintaining their current workforce, creating an environment of continuous learning and development. Reskilling has a longer-term impact, preparing the workforce for jobs that do not exist today. On average, about 40% of workers will require reskilling of 6 months or less.

Frost & Sullivan has identified 2 aspects of the skilling paradigm:
• A digital-first approach to upskilling allows the high- and medium-skill workforce to acquire new digital skills for an existing job or for a job that has yet to be created. Reskilling for digital transformation caters to the low-skill workforce, building educational solutions that will help workers transition from jobs that have a high risk of automation.
• An increasingly globalized and technologically sophisticated workplace will value employees who are culturally fluent, have a higher level of emotional intelligence, and are resilient. Demand for cognitive skills such as creativity, critical thinking, decision-making, and complex information processing will grow through 2030.

Opportunities in automation, artificial intelligence, Internet of Things management, 3D printing, and space exploration will emerge in the short to medium terms. Some 85% of jobs or tasks that students of today will be performing do not exist; jobs of the future will solve challenges and cater to technology trends beyond the next 5 to 10 years.

A growing generational divide is triggering a digital divide: the workforce composition will change in the next 5 years as older workers retire. Job automation already has been one of the changes seen during the COVID-19 pandemic. Companies are increasing their investment in worker reskilling and are forging partnerships with coding boot camps and other programs to increase workers’ access to digital skills.