Supported by PwCPutting Skills FirstOpportunities for Building Efficient and Equitable Labour MarketsI N S I G H T R E P O R TJ A N U A R Y 2 0 2 4© 2024 World Economic Forum. All rights reserved. No part of this publication may be reproduced or transmitted in any form or by any means, including photocopying and recording, or by any information storage and retrieval system.Disclaimer This document is published by the World Economic Forum as a contribution to a project, insight area or interaction. The findings, interpretations and conclusions expressed herein are a result of a collaborative process facilitated and endorsed by the World Economic Forum but whose results do not necessarily represent the views of the World Economic Forum, nor the entirety of its Members, Partners or other stakeholders. PwC provided analysis that supported Chapter 1 of this report. PwC was not involved in the selection of the Lighthouses.Cover image: UnsplashContentsIntroductionExecutive summaryContext1 Chapter 1: Skills First Opportunities 1.1 Rethinking academic requirements to broaden talent pools 1.2 Assessing skills alongside work and education history to spot new talent 1.3 Looking beyond personal networks to widen access to opportunity 1.4 Preparing for the demands of the digital transition 1.5 Getting ahead of the green transition2 Chapter 2: Skills First Lighthouses 2.1 Employer LighthousesLighthouse 1 IBM: SkillsBuildLighthouse 2 London Stock Exchange Group: My CareerLighthouse 3 Natixis: Jobs in MotionLighthouse 4 PwC: Skills ProgrammeLighthouse 5 Sanofi: Democratizing Digital and DataLighthouse 6 SAP: Skills Transformation ProgrammeLighthouse 7 Siemens: My Skills Lighthouse 8 Standard Chartered: Future Skills Academies2.2 Government and Education sector LighthousesLighthouse 9 Academy of Career and Technology Cambodia: Digital Pathways for YouthLighthouse 10 Coursera: Credit Recommendation of Professional CertificatesLighthouse 11 Edge Tech: The Musa Initiative Lighthouse 12 Metropolia University of Applied Sciences: MINNOLighthouse 13 National University of Singapore: SkillsFuture Career Transition Programmes 2.3 Key factors for successContributorsEndnotes34577911121516191921232527293133353537394143454647Putting Skills First: Opportunities for Building Efficient and Equitable Labour Markets2IntroductionSkills and talent shortages are critical challenges facing societies and economies today. The absence of relevant skills impedes business growth, hinders economic prosperity and inhibits individuals from realizing their full potential. Employers need to rethink their limited focus on using educational achievement and previous experience as proxies for the skills they require. Such an approach perpetuates the scarcity of talent and excludes many people who would otherwise be hugely valuable in the workplace. A “skills-first” approach focuses on whether someone has the right skills and...
