The labor market is changing, and to remain both employable and professionally fulfilled, workers must change with it. Companies, policymakers, and individuals all have a role to play. This report introduces our approach to identifying reskilling and job transition opportunities of the future. We use big data analysis of online job postings from Burning Glass Technologies, and statistics on job growth/declines from the US Bureau of Labor Statistics through 2026, to demonstrate the power of a data-driven approach to discover reskilling pathways and job transition opportunities.
Our results show that adequate reskilling holds promise: 95% of at-risk workers could find good-quality, higher-wage jobs with good future prospects. Reskilling and job transitions also present an opportunity to close the wage gap, as 74% of women will receive increased wages, compared to 53% of men. As 70% of affected workers will need to re-train into a different job family, a reskilling revolution is required.
Industry Roadmaps and Cross-Industry Data
For the second year of our engagement, we have set two primary goals: create industry-specific roadmaps and refine our cross-industry analysis.
We will offer targeted guidance for companies within the context of their industries by:
- Outlining opportunities and challenges that each industry faces as they transition to the new world of work (analysing relevant data from the Future of Jobs and Reskilling Revolution reports)
- Looking into the best practices to-date
- Presenting recommendations for actions and interventions
We will compile and analyze cross-industry data from the Future of Jobs and Reskilling Revolution report and examine additional augmentations, including cost-benefit breakdowns and gender-specific analyses of the most viable job transition pathways across industries.
Read the full article at the Boston Consulting Group.