Unemployment will remain high into 2021: Unemployment is projected to reach nearly 10% in OECD countries by the end of 2020, up from 5.3% at year-end 2019, and to go as high as 12% should a second pandemic wave hit. A jobs recovery is not expected until after 2021.
In this pandemic and economic slowdown, our companies may not be able to guarantee job security. This slowdown is affecting jobs, and employability could be primary job security to keep jobs safe. This article is about how to ensure employability both by job providers and seekers?
First, we should know what is employability in simple terms:
Employability is the quality of what is employable or what can be employed in a given situation and time. It is the ability, the aptitude that one has to obtain a new job, to keep it, to progress and to adapt to his / her career life. So what are those skills and abilities? What are employability skills? How to get this information?
Policymakers have already adopted various skill programs for productivity and development of our businesses. These programs are conducted primarily to attain goals such as
- to match supply to the current demand of skills
- to help employees/ workforce in the employment changes
- to prepare employees/ workforce and companies for the new generation technologies.
Such induction of programs for up-skill / re-skill is needed continuously. It requires continuous improvement of skills on a regular and permanent basis, as well as lifelong learning so that workers retain their level of employability and companies remain competitive.
To ensure these goals, we need to have the right skills enablers for the Growing Skills Stabilities such as Skills aggregation and Skills Harmonization.
Identify the skills required for the businesses to move on and aggregate the same and transfer this knowledge to the industry & workforce.
This skills aggregation will be able to forecast and harmonize various provision of skills - in terms of both relevance and quality.
The relevance of Employability skills to retain jobs:
The companies, therefore, must change their approach and ask themselves:
How to retain the best resources in the company so that they continue and contribute effectively?
How to discover the matching capabilities?
Companies must provide the facility to their employees to discover their skills
Discovery in-terms of employability within the organization as well as external.
Employees can identify the right skills and capabilities for the success of our company and also the confidence to move on to new jobs outside.
- Hr officers / Career advisors / Career counselors must be equipped with these facilities, so they can help job seekers to discover skills required by the company where they are already employed, or they have to go out due to lack of necessary skills.
- Training companies / Trainers must be equipped with these skills discovery facilities to help their associates and job seekers to Upskill / Reskill to have a better employability score.
As the situation evolves, we see companies must take measured approaches to safeguard their employees. Companies, and similar institutions who are providing jobs and providing skills, can support employees or job seekers in profiling their employability skills. This profiling of one's skills in detail will discover new areas to work. All the stakeholders of the industry, systems and processes must work in tandem to explore the employability skills of our concerned people.