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This newly released report explores how jobs and skills will evolve over the next five years. While there are too many insights to summarize from this massive 296-page report, three insights include: 1) Employers project that 83 million jobs will be lost and that 69 million jobs are projected to be created, constituting a structural labor-market churn of 152 million jobs, or 23% of the 673 million employees in the data set being studied. 2) Employers estimate that 44% of workers’ skills will be disrupted in the next five years. Cognitive skills are reported to be growing in importance most quickly, reflecting the increasing importance of complex problem-solving in the workplace. 3) The skills companies report to be increasing in importance the fastest are not always reflected in corporate upskilling strategies—suggesting that learning and development strategies may not always focus on developing the right skills. These and other insights in the report raise questions for organizations to consider and answer, such as: Do we know which jobs and skills in our organization are more likely to go away? Which jobs and skills are emerging? Do we understand the skills that are workforce possesses? How do the current skills of our workforce compare with the skills we need over the next few years? How will we redeploy workers as work needs change? How will our workforce planning, talent acquisition, learning, contingent workforce, etc. strategies need to change? Other ideas are discussed.
