business

Advances in technology, automation make it tough for employees to remain competitive: GRM

KUALA LUMPUR: It is getting increasingly difficult for employees to remain competitive in the workforce as advances in technology and automation are constantly reshaping the world.

In Malaysia alone, said Global ReSkilling Movement (GRM), up to 60,000 people might lose their jobs this year, with retrenchments expected to hit multiple sectors in the country.

Globally, the situation was even more dire, according to GRM chief global initiator Jin Tan.

GRM is an international initiative aimed at creating educational opportunities that help individuals around the world upskill and reskill themselves.

Its mission is to equip 100 million individuals worldwide with quality education, help them unlock their full potential and transform their lives for a better future.

"By providing reskilling and upskilling support, the GRM will work towards creating a powerful global pathway towards sustainable economic growth and a better future, with supported individuals up to 10 times less likely to drop out of work and thrive in their careers," Tan said.

"The McKinsey Global Institute estimates that as many as 375 million workers will have to switch occupations or acquire new skills by 2030 due to artificial intelligence and automation.

"Research from the World Economic Forum also suggests that if the current pace of workforce upskilling doesn't pick up, it could take decades for future employees to be ready for the future of work."

Tan added that the ability to adapt to new technologies and work environments was becoming increasingly important as the pace of change accelerated.

"It is a critical component of staying competitive in today's rapidly evolving job market, and a key factor of long-term career success."

GRM chairman Datuk Azhar Muhammad said it hoped to improve the global employment landscape with the help of sponsors around the world.

"Mastering skill areas such as digital literacy, critical thinking, cross-cultural communication, adaptability, and an entrepreneurial mindset, are necessary for any individual aiming for a position of success in the global marketplace.

"GRM's mission is to ensure that the process of self-development is as easy and straight forward for everyone as possible," Azhar said.

GRM organising chairlady Aimi Salma said the increasingly competitive nature of today's employment landscape meant workers could not solely rely on technical knowledge to thrive in their careers.

"Technical competency is important, but it is not enough for individuals to thrive in their careers. The workplace is constantly changing, and individuals need to be able to learn new skills when necessary," she said.

Most Popular
Related Article
Says Stories