Unicon directors conference 2020 v final
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This document discusses the need for upskilling and reskilling workers during the COVID-19 economic crisis. It notes that the skills gap is increasing and jobless rates could reach 30% due to the pandemic's economic impact. While recessions typically increase enrollment in education, people may be unwilling to enroll in long-term programs given current uncertainty. The document argues that now is the critical time for upskilling, as 54% of the workforce will need reskilling in the next 5 years. Barriers to learning like lack of time have been reduced as people work from home with more flexible hours. A new learning model is proposed that combines working and learning time through sabbaticals and lifelong learning.
Unicon directors conference 2020 v final
- 1. UPSKILLING IN THE NEW REALITY DAVID BLAKE • CEO OF LEARN IN • MARCH 2020
- 2. THE FUTURE OF WORK STUDIOS ➜ ➜
- 3. TIME RATEOFCHANGE WE ARE HERE SKILLS GAP TECHNOLOGY THE SKILLS GAP IS INCREASING Credit: Thomas L. Friedman
- 4. JOBLESS RATES AS HIGH AS GDP CONTRACTION IN DOUBLE DIGITS LOST INCOME UP TO +20%30% $2.1tr COVID-19: UNPRECEDENTED ECONOMIC IMPACT https://www.bloomberg.com/news/articles/2020-03-22/fed-s-bullard-says-u-s-jobless-rate-may-soar-to-30-in-2q
- 5. EDUCATION IS COUNTER-CYCLICAL 1967 2024Recession periods Percentage change -4 -2 0 2 4 6 8 10 12ANNUALPERCENTAGECHANGE
- 6. “Although recessions have historically resulted in increased enrollment in higher education programs, there is no guarantee this time around. Given the uncertainty around the length of this recession, and the availability of short-term ‘bootcamp’ like programs, people may be unwilling to enroll in longer (and often costlier) programs.” - DOUG LYNCH, University of Southern California
- 7. THIS IS THE MOMENT 54% of the workforce will require significant upskilling and reskilling within the next five years 80% of both L&D and business leaders believe we need more innovation in learning and development World Economic Forum, The Future of Jobs Harvard Business Publishing Corporate Learning, State of Leadership Development
- 8. THERE HAS NEVER BEEN A MORE IMPORTANT TIME TO UPSKILL
- 9. UPSKILLING IS THE RIGHT THING TO DO $30,000+MID LEVEL ENGINEER UPSKILLING AN INTERNAL EMPLOYEE COSTS <½ HIRING AVERAGE HIRING COSTS CEO’S REPORT ON UPSKILLING CULTURALLY FINANCIALLY EMPLOYEE ENGAGEMENT INNOVATION PRODUCTIVITY RETENTION ↑ 25% ↑ 51% ↑ 31% ↑ 52% PWC GLOBAL CEO SURVEY 2020 JOSH BERSIN BUILD V. BUY 2019
- 10. TIME, THE #1 IMPEDIMENT HAS BEEN ALLEVIATED #1 REASON EMPLOYEES FEEL HELD BACK FROM LEARNING IS BECAUSE THEY DON’T HAVE THE TIME WORKING FROM HOME MORE FLEXIBLE WORK HOURS NO TIME COMMUTING NEW FREE TIME RECESSION DECREASED DEMAND +
- 11. Q: What are your biggest obstacles to job-related learning or professional development? 0% 11% 14% 19% 20% 22% 30% 30% 43% I don't have (or make) the time to learn Lack of guidance or direction in learning My company doesn't recognize or reward learning My manager doesn't encourage or enable learning I am overwhelmed by too many choices The learning at work is not engaging The learning at work is not relevant I don't know where to find learning opportunities at work I am not interested in learning more Degreed + Harvard Business Publishing, How the Workforce Learns, 4/2019
- 12. THE NEW LEARNING MODEL WORKING TIME LEARNINGTIME FULL TIME STUDENT FULL TIME PROFESSIONAL EXECUTIVE EDUCATION WORKING STUDENT NEW NORMAL THE OLD REALITY: TRADE OFF THE NEW REALITY: LEARNING SABBATICALS & LIFELONG LEARNING WORKING TIME LEARNING TIME
- 13. LEARNIN .COM BORN TO BUILD THE FUTURE OF LEARNING SABBATICALS & UPSKILLING
- 14. INNOVATIVE FINANCING PROGRAMS: ISA’s
- 15. TIME ALLOCATION: SABBATICALS & PART-TIME
- 16. PRECISION ALLOCATION & TRACK ROI
- 17. LAUNCHING IN JUNE WITH PARTNER PROGRAMS
- 18. IN TIMES OF CHANGE IT'S LEARNERS WHO INHERIT THE EARTH, WHILE THE LEARNED FIND THEMSELVES BEAUTIFULLY EQUIPPED FOR A WORLD THAT NO LONGER EXISTS. “ - ERIC HOFFER
Editor's Notes
- #4: COVID-19 is slowing the economy, not the skills gap
- #5: https://www.bloomberg.com/news/articles/2020-03-22/fed-s-bullard-says-u-s-jobless-rate-may-soar-to-30-in-2q
- #6: COVID-19 is slowing the economy, not the skills gap
- #8: https://www.bloomberg.com/news/articles/2020-03-22/fed-s-bullard-says-u-s-jobless-rate-may-soar-to-30-in-2q
- #10: https://www.bloomberg.com/news/articles/2020-03-22/fed-s-bullard-says-u-s-jobless-rate-may-soar-to-30-in-2q
- #13: Vision for now Historically work and education have lived in different realms The new reality provides an opportunity for them to overlay Use this time to provide upskilling to employees Instead of laying off, provide option of reduced pay and educational subsidy Come out of this economic downturn swinging With skills, engagement, loyalty
- #15: https://www.bloomberg.com/news/articles/2020-03-22/fed-s-bullard-says-u-s-jobless-rate-may-soar-to-30-in-2q
- #16: https://www.bloomberg.com/news/articles/2020-03-22/fed-s-bullard-says-u-s-jobless-rate-may-soar-to-30-in-2q
- #17: https://www.bloomberg.com/news/articles/2020-03-22/fed-s-bullard-says-u-s-jobless-rate-may-soar-to-30-in-2q