Analytical thinking highest priority for skills training in 2023-27

Before 2027, six out of every 10 workers will need training. However, only half of them seem to have access to appropriate training opportunities today. During the period 2023-2027, the highest priority for skills training will be given to analytical thinking. That is, about 10 per cent of training initiatives, on average, will be focused on analytical thinking, says the Future of Jobs report released by the World Economic Forum (WEF).

The second priority in terms of training aimed at developing the workforce, appears to be the promotion of creative thinking. About eight per cent of upskilling initiatives will be focused on creative thinking.

Artificial intelligence (AI) and big data come in third on the list of priorities for the next five years. In fact, a significant 42 per cent of the organisations surveyed intend to prioritise AI and big data training.

Forty per cent of the employers surveyed intend to focus on developing employees’skills in leadership and social influence, while 32 per cent wish to train them in resilience, flexibility and agility. About 30 per cent want to develop curiosity and lifelong learning in their employees. Two-thirds of companies hope to witness the fruits of their investment on skills training within a year of investing. This will be either in the form of improved cross-role mobility, or in the form of increase in employee satisfaction or better productivity.

Companies will invest nine per cent of their reskilling efforts in AI and big data, as well as leadership and social influence. These skills, as per the companies surveyed, are growing in importance the fastest, although this is not evident in their corporate strategies.

In fact, organisations rank AI and big data 12 places higher in their skills strategies than in their evaluation of core skills.

That means, once included in their strategies, organizations will give Ai and big data more importance than creative thinking. The attitude that ranks highest is leadership and social influence, although currently it is not reflected as the most sought after, in terms of importance.

Other skills strategically emphasised by businesses are design and user experience (nine positions higher), environmental stewardship (10 positions higher), marketing and media (six places higher) and networks and cybersecurity (five places higher).

Organisations are not very optimistic about talent availability in the coming years. According to them transformation in the industry will be hindered by skills gaps and an inability to attract talent. About 48 per cent of companies feel improving talent progression and promotion processes can increase the availability of talent. About 36 per cent of organizations feel offering higher wages will make more talent available to them, while 34 per cent believe that offering effective reskilling and upskilling will work.