One of my favorite singer-songwriters, Bob Dylan, declared in 1963, “The Times They are a’Changin”. While Dylan must have felt that was true then, these words resonate more than ever today. Mass layoffs have occurred in some industries, and new technologies have increased the need for additional employee training. College costs have skyrocketed, sparking discussions about the value of a 4-year degree. Questions arise: Is a college degree worth the cost? Will my career field be needed in the future? What degree should I seek? What skills are important to develop? Let’s take a closer look at just how much these times are a’changin’ and explore the best ways to adapt to these predicted trends.
A report from Georgetown University, Center on Education and the Workforce, notes, “despite the upheaval in the job market since 2020, one workforce trend has remained constant: the increasing need for workers to have higher levels of education in order to succeed in an ever-evolving economy.” Currently, California workers who hold a 4-year degree earn a medium annual wage of $81,000. Over time, the difference between those with college degrees versus a high school diploma results in three times as much wealth than those who did not obtain a 4-year degree. Having a bachelor’s degree remains an advantage in most areas of the labor market in the United States. In a 2021 Pew Research survey of college graduates, a majority of respondents spoke to their college education being “extremely” or “very useful” when it came to helping them grow personally and intellectually. It opened doors to job opportunities and helped them develop specific skills and knowledge that could be used in the workplace.
Students who participate in a post-secondary education will learn what is known as “hard skills”, or technical knowledge. However, there is a growing demand for “soft skills”. These characteristics and abilities include: persistence, motivation, problem-solving, leadership, team-work, time management, curiosity, collaboration, work-ethic, adaptability, flexibility and resilience, to name a few. LinkedIn’s Study on the Most In-Demand Skills for 2023, discussed that the soft skills students gain from liberal arts courses fill more than half of the slots on their list. A college education can provide social and emotional development that is much needed in a career.
The recent release of Springboard For Business’s 2024 State of Workforce Skills Gap Report revealed some compelling insights. The report, based on a survey of over 1,000 corporate professionals, identified strategic thinking as the most in-demand soft skill. Critical thinking plays a pivotal role in enabling businesses to swiftly adapt to changes and keep pace. Unlike technical skills, soft skills cannot be outsourced to Artificial Intelligence (AI). So, if you are building a resume, it’s important to not overlook your vital soft skills that will help distinguish you from others.
The 2023 World Economic Forum’s Future of Jobs Report surveyed a diverse cross section of the world’s largest employers. The survey emphasizes the significance of cultivating a strategic blend of both soft and hard skills for optimal career opportunities. Managers recognize the value of prospective employees who possess the right balance of soft and hard skills. As hard skills, such as programming languages and utilizing software becomes outdated, companies are prioritizing ongoing upskilling initiatives. Lifelong learning is becoming essential for employees to advance in their respective fields.
An additional trend for developing hard skills, or specific technical career-related capabilities, is found in the area of internships and apprenticeships. According to the U.S. Department of Labor, the “number of apprenticeships in both the public and private sectors rose 64% between 2012 and 2021.” Providing real-world, on-the job training best prepares individuals in their chosen fields. Universities are increasingly adding these opportunities to their programs as they continue to address the challenges of the changing needs for workforce training.
What career fields are on the rise? According to the Future of Jobs Report, the fastest-growing fields are driven by technology, digitalization and sustainability. Digital skills will become a requisite for career advancement, as more industries incorporate new technological tools into their operations. AI and Machine Learning Specialists are on the list of the fastest-growing jobs. Business Intelligence and Information Security Analysts will see an increased need. Renewable Energy Engineers and Solar Energy Installers are also fast-growing roles in the renewable energy pathway.
The need for cutting edge engineers due to the recent rise in big data, AI and machine learning, prompted The University of Pennsylvania to launch a Bachelor of Science in Engineering Degree in Artificial Intelligence. Other colleges, including community colleges and vocational schools, additionally offer degrees and certificates in emerging technology fields such as: cybersecurity, data analytics, nanotechnology, biometrics, data science and computer systems analysis.
It’s evident that incorporating job-specific hard skills, practical experience, and ongoing development of soft skills creates an appealing package for prospective employers. But, how can one enhance their soft skills? Participation in activities such as volunteering, joining clubs, being receptive to feedback, working collaboratively in teams, stepping out of one’s comfort zone, seeking mentorship and adapting to workplace changes are some ways to improve soft skills. Engaging in these activities will provide individuals with the skill set necessary for success in today’s ever-changing job market.
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