How can businesses thrive in a world where 23% of all jobs are set to change in just a few years?
The global labor market is experiencing rapid transformation, with technological advancements, geoeconomic shifts, and the growing need for equitable climate transitions drastically reshaping employment patterns.
The latest World Economic Forum (WEF) report, Unlocking Opportunity: A Global Framework for Enabling Transitions to the Jobs of Tomorrow, outlines how proactive job transitions can address these challenges, optimizing labor supply and demand while ensuring individual well-being and social mobility.
"Upskilling the global south workforce requires an integrated and effective approach as the labour market dynamics are changing fast - a forward thinking strategy can ensure a sustainable transition towards inclusive employment." -Asad Shoaib
At Aura, we understand the importance of workforce analytics in navigating these changes. We help businesses and consultants strategize comprehensive workforce transitions by utilizing data-driven insights, offering clarity in a complex, shifting job market.
The new WEF report identifies three primary, global job trends shaping the future of work: transitions into digital and ICT roles, healthcare, and business services. These are areas where Aura's analytics can offer significant advantages for career transitions and career path development.
The report, based on data from 14 economies, highlights three critical labor market shifts:
Digital and ICT Transitions: The fastest-growing segment, with workers moving into roles such as software developers, technology consultants, and data analysts. Transitions from manufacturing, technical, and production-related jobs into digital roles are particularly prevalent, driven by growing demand for digital skills. This trend offers numerous opportunities for a career change into the tech industry, with many developing strategies to reskill and upskill into new careers.
Healthcare and Human-Centric Roles: With aging populations and rising healthcare demands, many regions, especially high-income economies, are seeing a surge in transitions to healthcare jobs. Workers are moving from administrative and technician roles to become nurses, physicians, and healthcare administrators. The transition to a career in health care offers a stable and high-growth career path for many workers looking to make their next career move.
Business Services: The rise in business process outsourcing and modularization has led to increased transitions into roles such as sales manager, business analysts, and customer service agents. These roles often require transferable skills, making career transitions into these professions more accessible for most people, even those without direct experience.
Each of these trends reflects the need for targeted job transitions, where the labor market can absorb displaced workers and fill new, high-growth roles. However, these transitions do not happen naturally. Workforce analytics platforms like Aura can map viable transitions, align employee skill sets with market demands, and provide the data necessary for businesses to guide their workforce and help individuals achieve their career goals.
For more recent hiring demand trends, review Aura's September hiring report.
The report's regional analysis offers an in-depth look at job transition opportunities across seven global regions:
East Asia and the Pacific: Dominated by transitions into digital and ICT jobs, particularly in Australia and the Philippines, where workers are shifting from administrative roles to tech jobs such as software development. Workers in this region are also focusing on upskilling to transfer into full-time jobs that align with their future goals and provide long-term success.
Europe: Like other regions, Europe is experiencing significant transitions into ICT and healthcare roles, with software development and nursing emerging as key areas for job movement. This region has also seen an increase in career transitions into business services, where professionals are able to develop transferable skills and move into roles like sales manager.
North America: The most frequent transitions observed include shifts from health technician roles to nursing and from light truck drivers to tractor-trailer drivers, highlighting the persistent demand for skilled logistics and healthcare workers. This region is ideal for those seeking a big career transition, whether into the healthcare industry or technical roles that offer a significant salary boost.
Aura’s workforce analytics offer crucial insights into these labor shifts. Our platform enables businesses to:
Reskill and Upskill: Identify the skills required for emerging roles in an enterprise and offer guidance on reskilling the workforce. This aligns with the WEF's emphasis on reskilling for continuous career progression, ensuring workers can meet the demands of the next business initiatives.
Facilitate Strategic Workforce Planning: By using Aura’s benchmarking tools, businesses can anticipate labor market shifts and proactively prepare for them, helping reduce unemployment and optimize workforce deployment. Aura helps companies identify the transferable skills their employees already possess, facilitating smoother career management.
The WEF's Unlocking Opportunity report outlines a compelling framework for enabling job transitions, emphasizing the need for reskilling, employee-employer matching, and multi-stakeholder collaboration. As businesses navigate these global shifts, leveraging workforce analytics like those offered by Aura becomes crucial to ensure successful transitions into the jobs of tomorrow.
Aura’s data-driven platform provides the strategic insights necessary for identifying needed skills and viable job transitions, helping organizations and individuals alike develop the skills and strategies needed to successfully compete. To learn more about how Aura can help your business facilitate these transitions and ensure your workforce is prepared for the future, explore our workforce analytics solutions today.