Source | http://www.hrdive.com : Riia O’Donnell
For many American workers, technological advancement will mean the end of their jobs.
A recent report by the National Bureau of Economic Research estimates that hundreds of thousands of employees have been replaced by technology or robotics in the past 20 years. And an Oxford University studysays 47% of American jobs could be at risk due to computerization over the next 20.
This “fourth industrial revolution” is already changing labor markets, according to a report by the World Economic Forum, The Future of Jobs.Developments in artificial intelligence, robotics, nanotech and more are changing the skills workers need to keep up in an ever-evolving employment landscape. They say “skills instability,” or the rapid change in skill requirements, will affect 29% of workers in the U.S. by 2020, from front-line staffers through upper management.
For displaced workers, the need to participate in lifelong learning is a must to remain employable. But because this won’t always appear as a certification or degree on a resume, this may mean a major shift in hiring practices.
A new paradigm for employers with difficulty filling open positions is a shift to skills-based hiring rather than the credential-based model of the past. Many applicants possess skills that aren’t reflected in their work history or educational experience. As more and more workers participate in self-guided learning, the skills-based model will become more relevant.
The State of American Jobs report revealed some insight from American workers:
- 87% believe continuous training is important or essential to their continued success;
- 54% believe training and developing new skills throughout their work life is needed to keep up with changes in the workplace and;
- 72% say “a lot” of the responsibility to assure they have the right skills and education falls on individual workers.