THE SKILLS REVOLUTION: WHEN SKILL WILL BECOME A NEW CURRENCY
Vietnam, 11 August 2017
Ho Chi Minh City will become the second fastest growing economy in Asia by 2021, Bloomberg cited a new study by the UK-based Oxford Economics as saying in a Wednesday report. In the next five years, HCM City's economy is expected to grow by 8% each year, according to the study, which ranked Asia's 30 largest cities. In this context, human resources will play a key role in promoting the development and aintaining the competitiveness of Ho Chi Minh City in particular and Vietnam in general compared to other countries in the region.
Simon Matthews, CEO of ManpowerGroup Thailand, Vietnam and Middle East, shared "The future of the world of work will be very positive, especially in the ASEAN Economic Community (AEC). From 2018 onwards, when members of AEC gradually give the workforce more opportunities to find work freely within the region, the jobs competition will become "hotter". At that time, those who have the appropriate skill sets to adapt to the new working environment will call the shot. It can be said that skill will become a new currency in the Human Age. "
The future of work is bright according to ManpowerGroup (NYSE: MAN) in its report "The Skills Revolution," a survey of 18,000 employers across all sectors in 43 countries, published at the World Economic Forum (WEF) in Davos, Switzerland. We are facing a Skills Revolution and Learnability will be the worlds’ great equalizer in this age of acceleration.
One in five employers (19%) expect technological disruption to increase jobs as they adapt to the future of work and six in ten employers (64%) expect to maintain headcount if people have the right skills and are prepared to learn, apply and adapt.
New technologies will require increasingly specialist skills for people and organizations. Plenty has been written predicting the future: more jobs, different jobs, less jobs, even no jobs. Few are telling people that they will need new skills and they will need them more often to stay employable for jobs we may not even have heard of yet.
"In this Skills Revolution, learnability – the desire and ability to learn new skills to stay relevant and remain employable – will be the great equalizer," said Jonas Prising, ManpowerGroup Chairman & CEO. "The rise in populism and the polarization of the workforce continues to play out in front of our eyes. It's time to take immediate action to upskill and reskill employees to address the gaps between the Haves and the Have Nots – those that have the right skills and those that are at risk of being left behind. We also need to draw in those that are not fully participating in the workforce. That's what we mean by the emergence of a Skills Revolution."
Key findings of the report include:
Employers in Italy, Guatemala and Peru are most optimistic about the impact of robots on jobs. Over a quarter of employers in India expect to reduce headcount; Bulgaria, Slovakia and Slovenia are close behind.
People in IT and customer-facing roles should feel optimistic, those employers anticipate greatest increases in headcount.
Rapid growth in demand is also expected across almost all industries and geographies2 for data analysts required to make sense of big data. In HR too, headcount is set to increase in the short-term as they steer companies through this period of adjustment.
ManpowerGroup® (NYSE: MAN), the leading global workforce solutions company, helps organizations transform in a fast-changing world of work by sourcing, assessing, developing and managing the talent that enables them to win. We develop innovative solutions for over 400,000 clients and connect 3+ million people to meaningful, sustainable work across a wide range of industries and skills. Our expert family of brands – Manpower®, Experis®, Right Management® and ManpowerGroup® Solutions – creates substantially more value for candidates and clients across 80 countries and territories and has done so for nearly 70 years. In 2017, ManpowerGroup was named one of the World's Most Ethical Companies for the seventh consecutive year and one of Fortune's Most Admired Companies, confirming our position as the most trusted and admired brand in the industry. See how ManpowerGroup is powering the future of work: www.manpowergroup.com
About ManpowerGroup Vietnam
Established in 2008 in Vietnam with two (02) offices in Ho Chi Minh City and Hanoi, ManpowerGroup Vietnam is the first 100% FDI Company in the resource consulting market providing comprehensive consulting solutions in a wide variety of areas and as a strategic partner. The Ministry of Labor, Invalids and Social Affairs.
We provide comprehensive human resources solutions such as:
Talent Driven Outsourcing
Recruitment and Assessment
Talent and Career Management