Future of Work: Who will benefit the most from skilling, reskilling and upskilling workers?

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Noorjit Sidhu, future of work investor at Plug & Play, reached out after seeing my LinkedIn post about joining Catalyte and how reskilling ties to my parents’ immigration story. He wanted to connect over the future of work. We jumped on a fun phone call and Noorjit followed-up with a list of questions for me. Being the (proud) nerd I am, I’m excited to write up my answers and share them with you in a Future of Work Series. Enjoy and let me know what you think!

NS: Which stakeholders do you think will benefit most from skilling initiatives? Enterprises? Specific demographics of individuals (e.g. age groups)? Specific skill types (e.g. manufacturing roles)?

In an era of lifetime learning and robot-proofing talent, everyone benefits from skilling initiatives. According to the World Economic Forum’s Future of Jobs 2018 report, machines are expected to displace 75 million jobs by 2020 and create 133 million new jobs. To prepare for the future of work and stay competitive, companies and talent alike will need to skill, reskill and upskill.

I believe that enterprises will have an edge on executing skilling initiatives because they have the money to do it. And I also see skilling initiatives benefiting those with the most access to it (e.g., blue-collar workers). White-collar workers and marginalized groups of lower social-economic standing may benefit less due to the lack of access to apprenticeships, skilling programming, MOOCs, short courses, bootcamps, professional certificates, etc.

Forward-looking, there is an opportunity to uplevel the skilling initiative benefits to enterprises. If they address degree inflation and start hiring previously overlooked individuals and skill, reskill and upskill them, employers will enjoy an increase in retention, more efficient recruiting and increased diversity. That translates to bigger savings and bottom-lines.

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About Lolita Taub
Lolita Taub is the chief of staff at Catalyte, a TEDx speaker and an AI enthusiast, with a venture capital and enterprise tech background. She is a Venture Partner at NexGen, an LP at Portfolia’s Enterprise Fund and a former VC at Backstage Capital and K Fund. Lolita holds nearly a decade of enterprise B2B software, hardware and services sales experience at IBM, Cisco Systems and in Silicon Valley. She has a BA from the University of Southern California and an MBA from the IE Business School. Lolita has been recognized for her work on Forbes, Inc.com, The Huffington Post and Entrepreneur.com among other publications.

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