Introduction to the New Metrics in the Industry 4.0 Labor Market

(Ernst & Young, 2018 )

SKILLS AS THE NEW CURRENCY
With the rapid changes in contemporary society brought about by technology, the changing nature of work has a 'disruptive impact on workers, labor markets and organizations.' stated by:

-basic digital skills and literacy
-learnability skills
-skills needed for greening economies
-skills required for engaging in Industry 4.0 occupations
-skills for next generation infrastructure and services
-skills for technologyinfused manufacturing sectors

SKILLS NEEDED FOR FUTURE READY WORKFORCE

(1) increasing investment in people's capabilities
(2) increasing investment in the institutions of work
(3) increasing investment in decent and sustainable work

SKILLS AS THE NEW CURRENCY

The British Council

who stated "the Philippines needs to step up its efforts in developing English language proficiency as a vital skill in the workforce"

Communication skills

are highly valued as a graduate attribute for employability.

EMPLOYABILITY

A set of achievements -skills, understandings and personal attributes that make individuals more likely to gain employment and be successful in their chosen occupations, which benefits themselves, the workforce, the community and the economy.

-Understanding
-Skillful practices
-Efficacy beliefs
-Metacognition

USEM Model

Understanding

of disciplinary subject matter and how organizations work

Skillful practices

academic, employment, and life in general

Efficacy beliefs

reflects the learner's notion of self, their self-belief, and the possibility for self-improvement and development

Metacognition

complements efficacy, embraces self-awareness, how to learn and reflection. It encompasses knowledge of strategies for learning, thinking and problem solving, and supports and promotes continued learning/lifelong learning

EMPLOYABILITY

It It is a lifelong process .

EMPLOYABILITY

applies to all students whatever their situation, course or mode of study.

EMPLOYABILITY

It is complex and involves a number of areas that interlink .

EMPLOYABILITY

It is about supporting students to develop a range of knowledge, skills, behaviors, attributes and attitudes which will enable them to be successful not just in employment but in life.

EMPLOYABILITY

it is an institution-wide responsibility

EMPLOYABILITY

its about making the components of employability explicit to students to support their lifelong learning.

EMPLOYABILITY

It is NOT about replacing academic rigor and standards.

EMPLOYABILITY

It is NOT just about preparing students for employment.

EMPLOYABILITY

It is NOT necessarily about adding additional modules into the curriculum.

EMPLOYABILITY

It is NOT the sole responsibility of the careers department.

EMPLOYABILITY

It is not something that can be quantified by any single measure.

-Volatility
-Uncertainty
-Complexity
-Ambiguity

VUCA stands for;

Volatility

fast, unpredictable changes without clear patterns or trends

Uncertainty

frequent disruptive changes where the fast is not a very good predictors of the future

Complexity

multiple, complex, intertwined, technological, societal, geo-political, and ecological evolutions

Ambiguity

little clarity on what is real or true and difficult to predict the impact of action or initiatives.