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I am a Practitioner of 'The 7e Way of Leaders' where a Leader will Envision, Enable (ASK for TOP D), Empower, Execute, Energize, and Evolve grounded on ETHICS!

Wednesday, July 25, 2018

Daily Lessons from Life 24 July 2018 - Reskills to save jobs?

"More help for modern services workers to reskill

SINGAPORE: Workers in the financial and professional services as well as infocomm and media sectors will get more help to adapt to a changing work environment.
The labour union has launched a Modern Services Training Committee (MSTC) that will look into curating and providing training for workers in these sectors, in line with the government’s Industry Transformation Maps (ITMs). 
According to the Employment and Employability Institute (e2i), these three sectors - which are classified as modern services - are expected to experience high growth, with more than 30,000 jobs by 2020.
“There’s also a lot of disruption and new technologies,” said Mr Patrick Tay, Assistant Secretary General of the National Trades Union Congress (NTUC). 
“It's imperative for the labour movement to partner with our stakeholders and tripartite partners to equip the workers to better prepare them and stay future-ready. As we know we have robotisation, mechanisation and a lot of artificial intelligence, particularly in this space.”
The MSTC aims to encourage unionised companies and partners to reskill their workers. It will provide monetary support for course fees with the NTUC Education and Training Fund (NETF).
An example of their collaboration is a series of digital and tech-skills programmes for professionals, managers, executives and technicians (PMETs) to overcome challenges of disruptions. 
The programmes will cover growth areas such as big data and machine learning, cybersecurity, digital currencies, blockchain and the Internet of Things (IoT). NTUC said it intends to impact at least 500 professionals during the pilot."
The LAST SENTENCE highlights the enormous challenge of creating enough NEW JOBS to replace those OLD JOBS LOST!!
In the financial industry, we could be looking at thousands if jobs lost over the next few years. Creating a few hundreds new jobs will not suffice.
How can displaced PMETs who r able n willing to learn new skills get a job when it may be a "thousands applying for a few hundreds jobs"!!
The 4G to figure out?
Or radically change mindset on "how to live with little n be happy?"


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