With the 2024 convening of the World Economic Forum and AU Summit behind us, we can see a critical undercurrent shaped the discourse: the imperative need for reskilling and upskilling in the face of evolving economic landscapes. This article delves into how education and training are not just adjuncts to economic frameworks but foundational to realising the aspirations of sustainable, inclusive growth.

The stark disparities illuminated by global reports on poverty, unemployment, and inequality signal a failing system. The International Labor Organisation’s outlook on rising unemployment and the persistent issue of working poverty underscores an economy in disarray, unable to secure dignified living for all. Amidst this backdrop, the clarion call for new economic models resounds louder than ever. Yet, as we venture into realms of regenerative, circular, and donut economics, the question of equipping our workforce with the necessary skills to thrive in these paradigms becomes paramount.

The transition to economies that prioritise ecological sustainability and social equity demands a workforce adept in not only the technical know-how of green technologies but also in the soft skills of creativity, critical thinking, and collaboration. The World Economic Forum’s Future of Jobs report anticipates a significant transformation in job profiles, with new roles emerging in the domains of digital, green, and care economies. This shift is not merely a trend but a necessary evolution to address the dual crises of climate change and social disparity.

However, the journey towards a sustainable and inclusive future is fraught with challenges. The current educational and training systems are largely designed for a bygone era, emphasising skills for jobs that may no longer exist in the near future. The gap between the skills possessed by the current workforce and those required for the “jobs of tomorrow” is widening, threatening to leave many behind, especially the youth, women, and older workers.

Brazil’s Skills Accelerator initiative exemplifies a successful model for bridging this gap. Through strategic partnerships between national bodies and private sector companies, the program has made significant strides in reskilling and upskilling, impacting millions. Such collaborative efforts highlight the potential of targeted education and training programs to prepare individuals for the emerging job market, thereby contributing to a more resilient and equitable economy.

Moreover, the skills needed for the future extend beyond mere technical proficiency. The top ten skills identified by the WEF, including analytical thinking, resilience, and leadership, underscore the importance of a holistic approach to learning. Developing these competencies is crucial for fostering a workforce capable of innovation and adaptation in rapidly changing environments.

The call to action is clear: governments, educators, and industry leaders must unite in reimagining our educational frameworks to align with the demands of future economies. This entails not only revamping curricula but also embracing flexible learning pathways that recognise the value of lifelong education. By investing in the development of a diverse set of skills, we can ensure that individuals are not only employable but also equipped to contribute meaningfully to a sustainable and just society.

In conclusion, as the world grapples with the complexities of transitioning to new economic frameworks, the role of education and training in this transformation cannot be overstated. By prioritising reskilling and upskilling, we can pave the way for a future that is not only economically viable but also socially equitable and environmentally sustainable. The discussions in Davos must, therefore, extend beyond theoretical models to practical strategies for building a workforce fit for the challenges and opportunities of tomorrow.

Sarah Babb is a highly experienced executive and organisational and leadership change specialist. Read her Bio here.