Reskilling to Build a New Economy

Reskilling to Build a New Economy

The World Economic Forum (WEF) has just released an Insight Report titled 'Markets of Tomorrow: Pathway to a new economy'. Across the globe people are now feeling the impact of the pandemic. It has hit us hard – emotionally, socially, and definitely economically. Individuals and organisations worldwide are needing to take a hard look at their talent, their skills, and their resilience to escalating change. In the same way as everything around us has seemed to change, so must we. We need to upskill at pace to meet the requirements of the new reality that now surrounds us.

Building the "markets of tomorrow":

Image source: World Economic Forum, Markets of Tomorrow Report 2020

This WEF report identifies Edtech and Reskilling Services as one of 20 new markets with the potential to transform our economies. It reminds us that Covid-19 has accelerated many trends that were already transforming the workplace. It cites the digitalization of the workplace and the move towards a greener economy, but add to that the increase in flexible working, the burgeoning use of data analytics and the shift of power to consumers through their use of the Internet and we begin to form a fuller picture.

"Transforming the global economy will require people to take on new jobs and learn new skills."

The importance of reskilling has taken on a whole new significance. There are no longer options to side-line professional development and rely on a static set of capabilities. The world is moving too fast for that and workers at all levels need to continue to learn and grow. The report also acknowledges the positive impacts of this, confirming that ‘Creating a sound market for EdTech and reskilling services will contribute to greater inclusivity, empowering people and ultimately improving their well-being.’

There are two key challenges that need to be overcome to sustain the economy; the ability to respond and adapt in a fast-moving economic environment, and developing the IT services and infrastructure needed to sustain connection and communication and in a world that is increasingly less physical and face-to-face.

Responding to market needs

At MKC Training, we have introduced two new training categories, based on over 10 years of experience training the Royal Engineers. Our ITIL® and Project and Programme Management training portfolios have been developed to meet the needs of the post-Covid era.

With IT becoming increasingly mission critical for any business, the ITIL accreditation is a great way for organisations and individuals to ensure they get the best value from their IT and digital services. IT Service Management (ITSM) is set to become a core part of any organisation and this best practice framework supports effective IT transformation.

We've also added PRINCE2 Agile® to our range of training courses. We recommend this qualification as it combines the rigour, processes, and governance of the globally successful PRINCE2 standard, with the flexibility and adaptability of agile concepts, methods and techniques. The world economy has seen to its cost that businesses need the capability to pivot and respond when change hits. Yet adaptability is often confused with lack of direction, the frequent changing of plans, and ‘shifting goal posts’. PRINCE2 Agile puts all this in perspective, giving individuals and teams the skills needed to pull together in the face of disruption, to collaborate to produce the best results, to test and learn to identify evidence of what is working, and to stay on track when others would stray off course.

Now is the time to upskill. This new World Economic Forum report makes it clear, ‘Countries with advanced technological capabilities, strong social capital and future-oriented institutions are likely to be better placed to successfully create a broader range of the markets needed for economic transformation.’

It’s a great time to invest in the future. Check out our upcoming accreditation courses:

ITIL® Service Management

PRINCE2 Agile®