120 Million Workers Need Retraining, Less Than 1/2 CEOs Are Prepared

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This should be enough to scare the SHIFT out of you!

The imperative for this change is imminent. What once was declared a “war for talent” has become a “race for talent.” Disruption is now taking place much faster than most of us want to admit.  As Canadian Prime Minister Justin Trudeau declared at the World Economic Forum in 2018, “The pace of change has never been this fast, yet it will never be this slow again.”

Just last week, IBM’s Institute for Business Value released a study that revealed that 120 million workers from the world’s 12 largest economies (including 11.5 million workers from the U.S.) may need to be retrained because of advances in artificial intelligence and intelligent automation within the next 3 years. The goal line for disruption was moved up almost a decade!  

Unfortunately, less than half of CEOs surveyed said they don’t have the resources needed to close the skills gap brought on by these new technologies. It’s not only resources are in short supply but a shortage of time.

It now takes more than 10 times than what it did just 5 years ago to close a skills gap through employee training. Today, workers need 36 days of training to close a skills gap versus three days in 2014.

Welcome to this Age of Googlization, where science fiction meets reality daily! While Workforce 2030 is a decade away, business leaders need to prepare like it’s arriving tomorrow. Faced with an escalating and imminent crisis to grow business, what can YOU do?