Reskilling Revolution: Better Skills for a Billion People by 2030 | Davos 2020

ladies and gentlemen my name is Adrian Monk from the World Economic Forum welcome to this press conference on the rescaling revolution better skills for a pillion people by 2030 so almost as twice as many jobs can be created than lost by the fourth Industrial Revolution you'll have heard in the press conference just preceded us about the climate change challenge we face here we also face a jobs challenge if we're to meet that other part of the theme of this annual meeting which is about cohesion social cohesion giving people opportunities so this press conference is going to explore that and really lay out some quite exciting ways in which we can tackle that issue I'm delighted to be joined by Satya Healy who leads the forum's work on this panel by Ivanka Trump who Sarah's co-chair of the American policy advisory workforce advisory board by Marc Benioff the Chairman and co-chief executive of Salesforce by Peter Hummel guard the minister of employment from Denmark and by His Excellency dr. Hamid Bell hull Minister of Education from the United Arab Emirates we're hearing from each of our panelists and I'm hoping that we get through on Swiss time to get some questions in at the end I'm gonna start by asking Sarria to just lay out for us this rescaling revolution what she's hoping this project can achieve skilling up a billion people by 2030 saadia thank you as you just mentioned one of the major aspects of work that we're looking at at this meeting is how do we build more social cohesion so just get your microphone up sorry this week how do we build more social cohesion how do we ensure that people have pathways to social mobility one of the most important ways to do that is to ensure that people have the right education the right skills and the right jobs and that is what this initiative is all about over the last years we've been doing quite a bit of research on the fourth Industrial Revolution on the future of jobs and it's become very clear that we're not necessarily looking at a negative future in terms of jobs but what we are looking at is a major shift in term of the set of skills with a neat job and the types of jobs that will exist in the future whether that is in the care economy or the education sector or the IT sector there are a number of growing roles and in fact please do take a look at the jobs of tomorrow which also comes out today however what we need is a rescaling revolution if we want to help people get there and this initiative the rescaling revolution will be aimed towards getting 1 billion people better education better skills and better jobs the reason for creating a platform and the reason for doing this at the World Economic Forum is to provide better metrics better coordination between various policy experiments better coordination between various business initiatives and ensuring that there are new accelerated delivery mechanisms that I hope will get us there far before 2030 in order to do that we've been working with a number of different countries over the last year in particular on the closing the skills gap accelerators and I'm excited that here at this meeting we will be making more announcements of countries that will be adopting this approach India Oman the Russian Federation Pakistan the United Arab Emirates Bahrain and Brazil are all joining and in the case of the United Arab Emirates were very pleased that they're supporting the entire rescaling revolution initiative in addition to that a number of countries that have been running some of the most innovative experiments will be joining this set of work so France's multiple Hamas Eon will be a part of this initiative as well as of course the work that is happening in the United States which we'll hear more about later we've also set up a number of industry accelerators so the aerospace industry advanced manufacturing aviation travel and tourism consumer financial services media entertainment and information and metals and mining will all be part of this and finally there are a number of businesses that have made a very large set of pledges what I'm pleased to report is this is not just the starting point we already have commitments that will reach a quarter billion of the billion that we're trying to reach overall so I hope this is the beginning of a movement and we will be able to get to surpass even the target that we've set Thank You Adrian thanks Ari Thank You Can't sent to you and just ask you for your vision on the future of work and how this project really bridges the gap between public and private sectors well thank you and it's a pleasure to be here and to really affirm the United States commitment to to this joint effort the rescaling revolution and it's something that we have been deeply focused on in in the United States making sure that our booming economy works for all Americans and and that nobody is is left behind or forgotten so we are believers and you heard the President's speech yesterday it was highly optimistic about what is in store in the future we believe in innovation we don't want a bridle or harness that but with innovation comes opportunity new industries that are being created that never existed before look at the growth in cloud computing mark knows this as well as anyone he was an original signer of of our pledge committing to to rescaling a million people over the next five years so we thank you for that mark but there are industries that are being created that that require new skills and there are industries that are being disrupted and then there are industries that are continuing but the people working in those jobs today are going to require new skills to do their same job tomorrow so we are taking a holistic approach to this at the United States government and look forward to this convening and an opportunity to to learn from each other we've we've certainly learned on on the apprenticeship front there are great examples here in Switzerland in Germany one of my first foreign trips was to Berlin where I toured Siemens one of the the world-class examples of on-the-job training and apprenticeship so there's much we can learn from each other America is trying to harness the interest of business in the shared goal of ensuring that the next generation of American student and the current generation of worker has the skills they need to succeed in in the jobs of today and tomorrow that's why we created our pledge to America's workers which has become at this point really a full-blown movement with over 400 company's signing the pledge to re-skill close to 15 million American students and workers and that's 15 million lives impacted 15 million families impacted and and opportunities created and and it really is an incredible experience I've toured much of the country visited close to every state looking at these type of programs and and the question was about the the synergies between the private sector and the public sector and it's critical industry knows what jobs they are going to be creating and what jobs they are going to be displacing they know far ahead of the government which investments they're making in productivity which will cause a ripple effect within their workforce at the same time corporations more than ever feel a sense of civic civic obligation and what better place to start than within your own family within your own company and and we think that that is very important so we're catalyzing a lot of action we're also working as a government to create a national workforce strategy for the first time ever combining 14 federal agencies to come up with a blueprint not just for rethinking education K through 12 but how do we prioritize zero to five which has been under invested in and then also post 22 which very little federal and state funding goads towards except if it's you know really advanced degrees so how do we start to think about education and learning as a lifelong pursuit not compartmentalized to a very short period of time in the arc of one's life so the national workforce strategy aims to to answer some of those questions separately we've put together a council an Advisory Council that has helped inform to our work and and we have representatives from state and local governments represented we have academia represented we have some of the the great entrepreneurs and innovators and and largest employers in America all lending their expertise and and we assign them with a very specific and tactical mission which was not to come to us with a report or ideas that were redundant of that which we were already doing but a defined set of deliverables that they were in a unique position to execute on the first thing we asked this Advisory Council to do was develop a national ad campaign in partnership with us in the Ad Council but it's private sector funded private sector driven to dis funk - really debunk myths around certain types of industries you look at manufacturing in America there's 500,000 vacant manufacturing jobs and yet there's really no robust pipeline of feeder into it so people need to know about the jobs that exist today and be informed of the pathways that exist to fill them and the IT space Marc knows this well the the number of job vacancies days have but many of them don't require a four-year college degree so creating this national brand campaign which was unveiled by by Ginni Rometty and Tim Cook who are on our Council today is very important and I'll bang through the next shake Wayne's about yeah yeah the the the next one is just out of transparency we need to do a better job of connecting workers with job vacancies and people based on the skills they have rather than the degrees they hold with on the jobs that are available modernizing recruitment and hiring practices Marc and I have spoken extensively about this how our traditional forms that require to you to list your credentials and preclude many people who have the skills but maybe they were formerly incarcerated or maybe they have the skills but don't have the the credential so not eliminating people from from that pool and then lastly just getting the private sector to increase their investment in this training of their workforce and think about it in a rigorous disciplined way thank you Mark Europe employer of 35,000 people 50,000 now at Salesforce and that's great you've put an extra 15,000 in the time I checked - my figures can you can you tell us to help business can get behind this and and really make a difference I sure can I you know between the last press conference that we were just at talking about 1 trillion trees and this press conference and the other events that I have been to now here over the last couple days I'll just tell you that capitalism as we know it is dead the this obsession that we have had with maximizing profits for shareholders alone has led to incredible inequality and a planetary emergency and we all owe a debt of gratitude to Klaus Schwab and his team for showing us this incredible way Ford and Klaus Schwab is right now for 50 years he's been calling for a new capitalism a stakeholder capitalism a more fair equal sustainable way of doing business that values all stakeholders as well as shareholders and I know Klaus is right because Salesforce is living proof that that stakeholder capitalism worth we've had a phenomenal shareholder return four thousand percent since we went public but we've had a phenomenal stakeholder return as well by delivering hundreds of millions of dollars of grants by providing training to key parts of the workforce by running 40,000 nonprofits for free on our service including the World Economic Forum and it's why I so strongly believe that when all stakeholders are included that business becomes this great platform for change and let me say because of we're here at this panel that one of these key stakeholders is the global workforce to make sure that the fourth Industrial Revolution is bringing along everyone we need the Education and Skills to succeed and that's why I'm so excited about this rescaling revolution to bring the jobs and skills to 1 billion people no one government or sector can solve a challenge as big as this we need a true multi-stakeholder approach I think very well represented by this panel and I want to thank you Ivanka especially you for your leadership on the White House pledge to America's workers and the passion that you have brought to it to reignite the American work force thank you for doing that for all us and Salesforce signed this pledge and will give more than a million Americans the skills they need to earn Salesforce credentials and top jobs in our ecosystem over the next five years but I also want to thank you saw dia and Saudi afore your work in your research at the World Economic Forum for so many years now in Geneva showing that if we don't move faster it will take a hundred years before men and women are paid equally for equal work your Equality report has been transformational for me and in our ecosystem what you have shown is that what is happening with equal pay is unacceptable and that's why Salesforce has now spent more than 10 million dollars to ensure equal pay and we conduct annual audits now to make sure that men and women are paid equally for equal work now we need to make sure that everyone has a path to the future that's why what we are doing at Salesforce since our founding 21 years ago we've given more than a hundred million dollars in grants to education and workforce development organizations as well as our local public schools you know every company can adopt their local public school it's one of the reasons why here in Davos now for so many years we have Davos codes we're at in our Salesforce facilities here we're training the local children on the key skills they need to enter the workforce it's so important to us it's also why I'm so excited about trail head or online learning and rescuing platform which is helping nearly 2 million learners gain resume where these skills and it's open to everyone in the next five years and we're looking to get 10 million learners on that platform and these people are incredible trailblazers they're so inspiring to me well I just want to finally challenge all of my business leaders because as we all know because we've done so many pianos up here Adrienne with the fourth Industrial Revolution over so many years we need to rise to this moment of urgency we need to act now if you are attending this conference you need to commit to job training if you're attending this conference you need to commit to rescaling if you're attending this conference you also need to commit to our one trillion tree initiative like Ivanka has done in the US government so thank you again Ivanka for that and that is what we mean by stakeholder capitalism serving all stakeholders including the workforce and that's how business can be the greatest platform of change thank you Adrienne thank you Mark and Peter as employment minister in Denmark obviously jobs must be right at the top of your agenda what is the role of government here in this initiative well first of all I would like to thank the World Economic Forum for this initiative and for partners taking a share in in making this pledge I think that Marc Benioff is completely correct when he says that capitalism as we know it is dead or at least it has to be in the sense that more and more people thankfully are recognizing that the threats from growing inequality from a weakened social contract is actually also threatening not only our democracies but also the very foundation of our market economy so I think this pledge is the right way to go on that approach because we need to make sure that people in this world has jobs and not only has jobs also has jobs that are well-paid we're working conditions is good and that's why we need to invest more on rescaling and just to give you a couple examples from from Denmark one example is that most of you I think would know is Lego the company Lego who produces the Lego brick most of our kits play with Lego bricks all around the world it's a little plastic brick it can basically be produced all over the world nevertheless met much of it is still produced in Denmark although it cheaper could be produced in other parts of the world and that's because the Lego is investing in their workforce so that the workforce continuously provides in bettering the the production in making sure that that the LEGO brick and and what can be built from it is more perfected is more innovative and so forth and if we need to make sure that we have jobs for people in the future with me to make sure that we have an equality that is based on a strong social contract strong social and then we also need to invest in in our workforce in upskilling in rescaling and in the general education that's why we support this pledge neither thank you I'm add from your perspective you're not just Minister for higher education you also have advanced skills in your ministerial portfolio how do you see this rescaling revolution playing out in the policy sphere and how will your country get behind it so first of all I'd like to thank the World Economic Forum for stepping up and least killing and making it embroiders so now we have a revolutionary skilling which includes education so rescaling is important for reducing workforce it's very difficult for somebody to become unemployed but unemployed during tooken Duty Kurama conditions can be resolved and we've seen part is like in the u.s. now have the lowest unemployment rates so we can go back into employment however when you're unemployed because of a skill mismatch that's a whole different game so not to undermine the efforts and rescaling but I think we also want to be conscious of not producing students today that'll be unemployed citizen in the future so I commend you again to include education as part of the rescaling platform and you might ask what are we doing here as you want arab emirates we're still tackling education basic education there's no secret here that our scores are one of the lowest globally Africa in the Middle East score lower and Timpson Pisa view is improving were 35 in terms and 48 in Pisa but I'm here because we want to make risky link inclusive rescaling somebody as tunis has a high academic attainment is fairly easier than somebody in Africa or the Middle East who has who comes with a lower foundational base so our pledge here is a pledge as a global pledge but one that's more inclusive that will also include other countries within the region thank you thank you thank you to all our panelists we have a little window for questions if I could just get a sense in the room for who has a question and if you could give us your name and your organization if we can just take the two hands of the front please and if it's a question that we can address to all our panelists honest hi my name's from Phoenix TV Hong Kong can I ask question to your banker actually the training scheme sounds very exciting I won't know so well of the many Chinese / student have the equal opportunity to apply in this kind of training Wendy crater from the year you as University in a college with qualification certificate in the future that's the very question can I just take the gentleman aid I have a question for Miss Trump had you mentioned at CES the interoperable learning record and you didn't mention many details about wonder if you could share a little bit if there's any work been done on that and how it compares with President Obama's electronic health records and then to mr. Benny off the statement of capitalism is dead it's a pretty controversial statement especially with protesters outside holding signs saying eat the rich what would you say to the man dressed up as Ronald McDonald who instead of wanting to Reese kill wants to maybe violently cause a wealth registration so just taking the first question first I want to bring all our panelists in and give all of them opportunity to comment how portable that question related to Chinese students but how portable are these skills going to be for people when they are Reese killed are they going to have the opportunities to work in countries around the world or are these gonna skills stay in country maybe start at the end Peter what's your what's your vision on that do you think we're going to be rescaling people to stay in domestic economies or are these skills gonna be things that eventually in the years to come we can take with us and move around with now I think that in Denmark for example we already are rescaling and upskilling our workforce so that they can take those skills with them to to any economy around the world and and thankfully also there's a big demand for especially not only Danish industry technicians but engineers and so forth we also have a high demand for foreign engineers in Denmark but I think we we have to to scale and rescale our workforce so that they can take any jobs around the world however one of the main challenges we have in Denmark is that we still although we invest a lot in rescaling and upskilling we still have a lot of challenges to making sure that many of our workers in the workforce who don't have any skills we've ended their basic school around seventh grade or ninth grade or something like that that they actually in their current job see that in order to maintain that jobs at the current positions they need to to rescale so we need to find a way to to crack the code on how we be motivate workers already in the workforce to actually get up skilled with that completely I think fundamentally whether it's domestically or internationally we have to think about skills based learning as opposed to purely credentials in the United States and this ties into the question about the interoperable learning records there are over 700,000 different forms of credentials and badges and of course degrees traditional and and and otherwise so how do we piece these together and say well this is the credential but these are the underlying skills employers care about the skills so now we are in a much more nimble time where we can leverage technology and we can harness big data to better match the employer and the vacant job with the qualified applicant who may have otherwise been overlooked so I think there's enormous potential you mentioned interoperable learning records and and this administration has continued some really great work on that front to really open up the data and allow the private sector to come in and innovate on top of that we've seen this and I see Monica from Treasury at the Treasury Department opening up IRS data in a safe secure way allowed for the creation of TurboTax the weather through NOAA you and and commerce you see all of our weather apps so we think we can do the same with student data and worker data and we are have a really robust working group and and Mark's part of it that's a subsection of our advisory board we have two of the folks on the advisory board who are leading the section and then we brought in companies like his Salesforce and Lake workday credentialing engines to help us think about this in a more holistic way so we can take all of these different pieces and patch it together because that's the future if I have a skill and I'm in a community why aren't even if I have a job why aren't I being pushed information about job vacancies that match the skill sets that I have and that's not happening for blue-collar workers in in a robust way and in a way that lives up to the potential of what technology today can facilitate so we've got multiple pilots that we're about to launch and and the private sector is really helping us build this because building things isn't what we do but we at the federal government but we can convene and one person I just want to acknowledge Gianni Infantino who joined us they know nothing about rescaling in football right it's the skills are just so high but we we appreciate your commitment to to this issue and appreciate your being here you've been a great friend so thank you Johnny just for a catch prefilled with ammad and Mark I mean how you UAE is a kind of global hub for talent how important is it that with the rescaling that takes place we also ensure that people can move around and take their skills with them so there's the element of social mobility where it can improve your social status but also Geographic mobility the a ball has been asked this question the United Arab Emirates is a net importer of talent so we have foreign workers constituting about eighty-five percent of our population of their simple questioners why bother accompany the end of the day could import talent at 30 today so we did our research and we found that even from a few pure financial cents it's actually cheaper more efficient for companies to retrain their existing employees and let alone the financial incentives maintaining that culture of that company is vitally important so I think on one hand yes we do import talent but we want to risk all that talent rescaling includes things like social and cultural awareness it includes things like tech literacy so even with that I think globally work an interconnected community somebody of the right technical skills could work remotely so that opens up another way of mobility not physical mobility but job mobility in a digital space and Mark have you D is your declaration kind of outflanking people who say that capitalism is is outdated because you're declaring it dead well I've been coming into the World Economic Forum for 18 years and I'll tell you why I love it it's because business is the greatest platform for change but we can only do it through a multi-stakeholder dialogue you have to include everyone even at our recent Dreamforce conference we allowed protesters to speak at our main keynote for 30 seconds everybody's voice has to be included this is one planet one humanity certainly want to look at something like the one trillion tree initiative and we can only do that if we bring everybody in activists have to be included spiritual leaders have to be included government leaders have to be included business leaders have to be included native people leaders have to be included and if we try to divide ourselves then we will never achieve our goals we can only achieve our goals when we unite ourselves and when we come together as one because that is what who we truly are I've broken the Swiss root of timing but I did want to give one final word to Saudi Zahedi who's helped bring this initiative together from the forum side Sariah sure skills are the main currency of the labor market and I think you've just heard from every single panelists that we need to make that labor market and the education system work better together by focusing on skills that's how we're going to get there and we have to ensure that not only is there a broader base of skills but that we're able to specialize create agility in that system and that's what this initiative will really try to do all of the experiments that are happening in different countries we need to learn from that much much faster and that's what the rescaling revolution platform is dedicated to thank you ladies and gentlemen just a very quick word from you of ink or if you wanted to come in I was just going to add that on an optimistic end note I do think when you when you look at the freedom agenda that's been put in place in the United States pro-growth policies that are unleashing the potential and the innovation within within our business community and the private sector we're seeing as by the recent Gini coefficient results that income inequality is actually decreasing in America and it's decreasing for the first time in decades because more people are working and wages are rising and that should make us all very optimistic about the future so while it is our job and our obligation to have foresight about where disruption is going to happen some disruption can be very positive today in the United States of America we have the lowest rate of unemployment for disabled Americans in the history of our country in part because employers are working with disabled Americans to create opportunities for them but also new technologies are being leveraged to enable them to do work that they otherwise wouldn't have been able to do I've been on many a factory floor and seen robotic arms and how that's assisting women in doing other work that otherwise they would have been precluded from doing actually and you were talking mark about gender equality and and I'm so grateful for your passionate real tangible commitment to this topic in 2019 we just learned that women surpassed for the first time the percentage of people in the American labor market exceeding men but amazingly in in 2019 of all the new jobs secured in our economy roughly 1.5 million seventy-two percent that's the 1.5 million went to women so women are thriving and and I do think there is an opportunity to think about this through through the positive lens as we also prepare for further changes that our economies are being faced with thank you thanks to all our panelists and I know we're going to vacate for the next press conference I look forward to seeing you at that one thank you very much

Channel: World Economic Forum

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Keywords: World Economic Forum, Davos, politics, finance, economy, news, leadership, democracy, education, 4IR, technology, tech, AI, automation, work, future, world news, economist, world, forum, economic, world news today, worldeconomicforum, Switzerland, external affairs minister, recommended for you, globalization, robotics, bloomberg, documentary, ivanka trump, davos 2020, skills, work force

Id: mlpMomsOWxA

Length: 30min 35sec (1835 seconds)

Published: Wed Jan 22 2020