Skills-based hiring, EdTech, and other paths to jobs

April 2025

Reflections from Chris McCahan

Global Head of Education

Hello to all!

Welcome to this quarter's edition of our IFC Education newsletter. It’s my pleasure to share an interview with Matt Sigelman from the Burning Glass Institute, in which he discusses the shift toward skills-based hiring. We are transitioning to a world where employers can identify job candidates with specific skills required for a position rather than solely relying on a candidate’s college degree.

In our work in emerging markets, technology can be a game changer by enabling personalized assessments, even in contexts with limited access and affordability concerns. Despite the challenges posed by the post-COVID-19 environment, the EdTech market has enormous potential if solutions can be effectively scaled in skills development, assessment, credentialing, and job placement. 

In this issue, we proudly highlight IFC’s EdTech portfolio and showcase some innovative companies that IFC is supporting to tackle these challenges in our new "Tech Corner." Finally, be sure to watch the short video from Carina Fichard de Miranda, our new global sector lead. Carina brings a wealth of experience and energy to her role, helping to enhance IFC’s impact in the sector.

Best,

Chris

“When companies struggle to find workers while using an inefficient means to filter out candidates—like traditional degrees—they are throttling the supply of talent.”

IFC interviewed Matt Sigelman, President of the Burning Glass Institute, which conducts data-driven research on the future of work. He discussed skill-based hiring and new ways of evaluating prospective employees' qualifications. He also explained what governments can do to support access to high-value jobs and the role of artificial intelligence in a skills-first approach.

Read the interview with Matt here!

SPECIAL SPOTLIGHT

This month’s spotlight is on Carina Fichard de Miranda, Global Sector Lead for Education. She works closely with higher education leaders in Latin America on expanding internationally to enable access to programs across borders.  

Meet Carina here!

TECH CORNER

We are excited to introduce a new feature to our education newsletter—Tech Corner. Every quarter, we’ll share highlights of IFC’s education technology (EdTech) strategy and portfolio, which aims to promote digitalization, align higher education programs with labor market demands, and empower learning institutions and students to prosper in today’s fast-paced digital world. Here is a snapshot of the EdTech companies we support through loans, equity investments, and third-party capital.

We look forward to highlighting our work in this area in the coming months.  

RECENT EVENTS

World Bank Group Spring Meetings

Over one billion young people will reach working age in the next 10 years. Recently, the World Bank Group hosted its annual Spring Meetings, and the jobs agenda took center stage. The event was an opportunity to highlight Jordan’s Youth, Technology, and Jobs Project, which is building a competitive and highly skilled Information Technology sector to meet employer expectations.

Watch this inspiring video to learn more about how the program drives digital transformation and jobs for young adults.  

ASU+GSV Summit

Alejandro Caballero, Principal Education Specialist, and Juliana Guaqueta Ospina, Global EdTech Lead, attended the ASU+GSV Summit earlier this month to convene with global leaders on improving the state of higher education in low- and middle-income countries. Alejandro hosted a dynamic panel on recent trends in student mobility, while Juliana joined the 3rd annual ElleCap.org session to explore co-investment opportunities with leading women investors. 

In Juliana's words, “Who’s up for the challenge?”

D4TEP Innovation Tour

Earlier this year, IFC’s Digital for Tertiary Education Program (D4TEP) team hosted the first-ever Innovation Tour in Spain to explore technology solutions shaping the future of higher education. Raquel Bernal, Dean of the Universidad de los Andes in Colombia, was one of 14 Latin American and Caribbean higher education leaders who joined the tour. In this video, Raquel reflects on the need to train and prepare university students for a changing world impacted by the fourth industrial revolution, climate change, and artificial intelligence. 

Hear Raquel Bernal speak on the future of higher education in this video.

EDUCATION AT THE UNITED NATIONS 

Earlier this month, Momo Bertrand, an education specialist at the World Bank, spoke at the UN during the Observatory on Digital Communications conference about how higher education can bring the benefits of artificial intelligence to everyone, especially those in rural communities.

Watch Momo’s virtual presentation here.

OPPORTUNITIES FOR WOMEN

The Equality in Education and Employment (E3) team hosted a webinar on how universities and workplaces can ensure that women have the right opportunities to succeed.

You can catch the replay here.

VITAE CASE STUDY

Botho University in Botswana has made impressive strides in using graduate survey data to make meaningful program changes and boost student employability. With support from IFC’s Vitaeready team, Botho University is using key performance indicators from benchmarking data to improve its alum engagement and career services. We encourage you to read the Botho University success story here.  

UPCOMING EDUCATION WEBINAR

Employers in developing countries are struggling to find the right talent to grow and diversify their businesses. Join us for an insightful webinar to explore how industry players can address these skills mismatches. This session, "Industry-Led Education: An Innovative Way to Address Skills Mismatches," will take place on Thursday, May 8 at 9 am EST. Together, we will delve into corporate academies and training facilities within technoparks and industrial zones, ensuring the workforce has the necessary skills for the evolving market.

 Register now to secure your spot and be part of the conversation on transforming education to meet future needs. 

EDTECH PODCAST: HAVE A LISTEN

 Luis Benveniste, Global Director of Education at the World Bank, joined The Skill Revolution: Education, AI, and the Future of Jobs podcast from The World Bank’s EdTeach team to talk about the impact of AI on higher education and employment. The conversation includes insights on how education systems can prepare young people for the future of work and examples of how to align education with labor market demands. The podcast is available on multiple platforms and is not to be missed.

For more information, e-mail mas@ifc.org

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