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COVID 19's Impact on Global Reskilling and Career Transformations

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Decoding Global Reskilling and Career Paths in the Era of COVID-19

April 28, 2021

By Rner Strack, Orsolya Kovacs-Ondrejkovic, Jens Ber, Pierre Antebi, Kate Kavanagh, and Ana Lopez Gobernado

As over two-thirds of workers globally express a willingness to retrn for new roles, this attitude might pave the way for significant workplace transformations following the of the COVID-19 pandemic. This openness towards career transitions is largely driven by both the disruptions caused by COVID-19 and concerns about accelerating technological advancements.

Interestingly, willingness to retrn isn't confined to specific industries or job types; it's particularly high among those who have experienced the most income loss during this crisis. With a staggering 36 of all global workers having been ld off or forced to work fewer hours due to COVID-19 BCG and The Network study, sectors like travel, tourism, arts, creative industries, and media have seen the highest rates of income reduction.

The latest insights from BCG and The Network's comprehensive survey of 209,000 individuals across 190 countries provide a detled view into workplace changes that are likely to persist beyond the current pandemic. Designed to identify transformations prompted by COVID-19 but expected to ure afterward, this study highlights:

The Impact of Income Losses

The job insecurity exacerbated by the pandemic comes at a time when workers in various fields and across geographies already worry about automation replacing their jobs. A significant 41 of global employees now express more concern about automation than before COVID-19. This perception varies, with Asia seeing higher levels compared to Europe; differences partly attribute to varying worker protections in these regions.

The Landscape of Retrning Willingness

A striking feature revealed by the study is that retrning willingness is significantly higher among workers facing technological risk and experiencing pandemic-induced disruption. Over 70 of service sector employees, customer service personnel, and salespeople are willing to retrn. Conversely, those in less vulnerable roles such as science, research, health medicine, and social work exhibit lower willingness levels.

Arts Creative Work: An Exempted Category?

Surprisingly, arts and creative professions show a notable disparity between perceived risk and the readiness for retrning. Despite this, retrning willingness remns high at over 50 in these sectors.

Future Career Aspirations

When considering potential new careers, digital technology and information jobs are top choices due to growing opportunities and higher remuneration prospects. Office management roles like consulting, marketing, HR also attract attention for their perceived accessibility by diverse workers transitioning from existing fields.

The study underscores that new career aspirations often mirror current job profiles; manufacturing workers eyeing engineering roles, media professionals considering marketing careers, and so forth.

Skills Upgrading in Practice

As individuals take proactive steps to upgrade their skills amidst these challenges, nearly two-thirds of respondents dedicated weeks or months to skill development over the past year. Over half utilized online platforms e.g., MOOCs for learning; 36 opted for mobile applications as a means of acquiring new competencies.

Comprehensive View on Reskilling and Career Paths

To gn deeper insights into where income losses have been most pronounced, concerns about automation across different geographies, and p learning methods and career aspirations, we invite you to download the full report.

Download Full Report

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This article is reproduced from: https://www.bcg.com/publications/2021/decoding-global-trends-reskilling-career-paths

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Global Reskilling Opportunity Post COVID Career Paths Adaptation in Digital Age Willingness to Retrain Among Workers Impact of Income Loss on Jobs Technology Risk and Retraining Preferences New Job Aspirations Amidst Pandemic