Tag Archives: skills

People Are Becoming Millionaires (or unemployed) During This Economic Collapse…Are Your Skills Ready For It?

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Skills to overcome economic collapse/unemployment or even thrive!

Digital Marketing is probably the best skills for you to overcome economic collapse (includes programming, social medial skills like FB, Instagram & Youtube, Search Engine Optimisation (SEO), Google Analytics etc)

Skills to overcome economic collapse


Web Development

Skills to overcome economic collapse

Information Technology

8 Major Impacts of Information Technology on Businesses - Tweak ...

If you are really serious in changing your live, having a good career or even surviving your business, you should seriously consider in taking up courses that prepare you for it.

Following is part of the above video’s transcript

During this economic collapse, we have seen people lose their businesses, their life savings, and their jobs.

In fact, since the collapse started, searches for unemployment applications on google have increased by roughly 4700%.

And just last week alone, 6.65 million people in the United States filed for unemployment. That’s about 2% of the entire population. And to put that in perspective, only about 155 million people in the united states are in the workforce…meaning that last week alone will hike the unemployment rate by about 4.2%. This means that we have likely already surpassed the unemployment levels of the worst parts of the 2008 Financial Crisis.

Yet, despite all of this doom and gloom, there have been some people that have been able to take advantage of this situation. In fact, many Millionaires, Multimillionaires, and even billionaires might be being created right before our very eyes. So who are these people? And could you do anything right now to help bolster your financial future? Well, let’s start off by asking ourselves, why do some businesses go through a boom during a crisis. A perfect example of this is Mcdonalds during the Financial Crisis.

In 2008 and 2009, as businesses were collapsing, unemployment was nearing 10%, and millions of people were losing their jobs…Mcdonalds actually saw an increase in revenue and profits by about 4.5% per year. So why did this happen? Well, think about it.

When millions of people have their incomes drastically reduced, they look for ways to cut costs in order to survive. One of which is food. And in 2008, Mcdonalds had a pretty long list of items on its dollar menu. Meaning that it was cheaper in many cases for a family to go and buy food from Mcdonalds for a few dollars than it was to get fresh food from a grocery store. This is one example of a business that was in the right place at the right time while going through a recession.

But today is a completely different economy than it was 12 years ago. In 2008, only about 22% of the world were regularly on the internet, meanwhile, about 60% of people today are regularly on the internet. And the results of this have been staggering. A recent Nielsen report showed that streaming on these platforms has spiked by over 22% since the lockdowns were implemented. And that’s one of the reasons why creators like myself and many other influencers, have actually seen substantial increases in viewership, subscriber counts, and revenue during this time…as opposed to many other businesses that are seeing decreases across the board. In fact, there are some genres of online content creation that are seeing 50, 100, or even up to a 500% increase in revenue since the lockdowns. Those are videos that have to do with at-home meditation, cooking, home workouts, and DIY videos. Largely things relating to stuff people can do at home.

And depending on the creator, this might mean an extra few hundred dollars a month, to tens of thousands of dollars in additional revenue per month. And out of all the industries I mention in this video, I can guarantee you that this crisis will create more wealth in the social media space than it will in most other industries.

And what’s crazy is that there has been such an influx of online viewership, that the largest online video companies like Amazon, Youtube, Netflix, and Disney, have all agreed to reduce the bitrates on their platforms, in order to make sure that their websites and applications don’t slow down or crash.

This has led to an explosion of online industries like E-Commerce and Social Media. And that brings us to the first business that has been going through a boom recently. Online Content Creators.

Because of global lockdowns, more people are being forced to stay home and try to entertain themselves. So, many of these people are turning to platforms like Netflix, Disney Plus, Youtube, and other streaming services in order to kill the time. Transcript too long. End here.

The global skills mismatch

TVET & Vocational Training - Malaysian News, ,

FOR too long, HR experts around the world have been debating what to do about the pressing skills gap issue.

We are now at a stage where our HR profession needs to take the lead before this issue becomes a full-blown crisis.

About half of employers across the world are reporting difficulties in filling a variety of roles, with the fields of skilled trades and engineering high on the danger list.

Almost two-thirds of children starting school today will work in roles that have not yet been invented. — 123rf.com
Almost two-thirds of children starting school today will work in roles that have not yet been invented. — 123rf.com

The problems are not confined to entry-level roles by any means; the skills that many of us will have developed earlier in our careers can become obsolete a few years later. In highly technical roles, learned skills can have a lifespan of just two-and-a half years.

OECD data shows around a third of the global labour force, over a billion people, had the wrong skills needed for their particular jobs. The estimated cost is an annual GDP loss of US$5trillion (RM21.25trillion), bigger than the size of Germany GDP.

As a knowledge-based company, the necessity to have constant access to the right Science, Technology, Engineering and Mathematics (STEM) skills made us come up with a solution: a talent ecosystem that is interconnected and ensures there is a constant supply of talent by nurturing skills as early as the kindergarten and developing those skills throughout school, university and during careers with the company.

However, as we and other emerging market corporations seek to become truly global players, such a talent ecosystem does not automatically ensure that we have the right type of culturally aware staff with an international mindset helping us expand effectively on a global scale.

Against this background, we need a global solution by which we share best practices on how to tackle the skills gap.

One solution could be a “human-centred” approach by which we as HR professionals ensure that nobody is left behind in the Industrial Revolution 4.0.

By human-centred, we mean putting the individual first, tailoring talent and skills development to personal needs of students and employees.

For a human-centred talent development system to work, there should be a set of guiding principles or a framework in place adopted by employers, governments and educational institutions as best practice.

We recently together with our partners identified five such principles which could be summed up as follows:

Skills of the future (everyone should be equipped with future proof basic skills – including cognitive, social, cultural and digital);

Self-sustainability (everyone has the right to follow a unique and individual career path during their entire professional development);

Skills liquidity (information on job vacancies should be easily accessible around the world; employees hired only on skills and experience, regardless of education, gender, race, social status or physical health);

Labour market transparency (labour mobility, flexible and remote ‘virtual’ employment should be available to all, regardless of current place of residence) and

Diversity of values (the workplace and working conditions should support the professional and personal development of each employee, regardless of their values and beliefs).

Not a single company, not a single state, not even the largest one in the world can change the labour market culture on its own.

That is why we believe that such a framework of human-centred principles is a good starting point for bringing about change in the way we see talent and skills development in the workplace.

Let’s start this change today before it’s too late.

TATYANA TERENTYEVA

Chief HR Officer

Rosatom

Source: https://www.thestar.com.my/news/education/2019/08/18/the-global-skills-mismatch#xspzAeXV4OpOeHOc.99

Local students wanted for TVET program

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Company Industry - SANY Group

Local students wanted – THE world’s largest concrete machinery company is keen on training young Malaysians under the Fourth Industrial Revolution 4.0.

Sany Group Co Ltd managing director Keade Wang said China’s biggest construction machinery manufacturer exports to 150 countries, has three industrial building system (IBS) factories here, and is looking to expand. Plans are underway to develop a heavy machinery industrial plant in Kedah, and it wants to work with the Education Ministry to transfer its technology and train our students under the TVET programme.

“Sany Polytechnic College, which is over a decade old, is owned by the Group. We’re in talks with the ministry and a local Technical and Vocational Education and Training (TVET) institution, to train Malaysian students and place them in Sany Group branches worldwide.

“We’re hoping to get the green light from the ministry soon for our Construction Industry Development Board (CIDB) aligned syllabus to be used. We need TVET workers and local students are wanted because they’re multilingual. Those successfully trained by the Group can even work in our plants overseas.

Maszlee: Chinese firms want to sponsor TVET students | The StarThree months ago, Education Minister Dr Maszlee Malik said Chinese firms want to sponsor TVET students.

He had that said there would be more TVET scholarship and training opportunities for Malaysian students in education institutions and companies in China, The Star reported.

Sany was among the Chinese companies which met him and ministry representatives to discuss preparing Malaysians who graduated from technical and vocational education and training to face the challenging international industry.

A joint-venture with local property developers will see Sany needing more of “the right workers”, said Sany Construction Industry Development director Chang Bar Kuei.

He said its design, production, installation, education, and equipment, are in line with the country’s CIDB requirements.

“It doesn’t make monetary sense to replace the entire process with machines and automation because it would make homes unaffordable.

“So TVET graduates don’t have to worry about being jobless. But, we’re selective about who we train because the right attitude is important.

“No point transferring knowledge and skill to someone who isn’t serious about the industry.

“That’s why our potential trainees must all undergo an interview process,” said Chang.

Dr Maszlee, he said, had visited Sany Polytechnic College last year, to understand the college’s focus on both theory and practical.

“This dual focus is important because students must be able to communicate and interact with others when they start working.

“The TVET workers we’ve seen so far lack confidence because the skills they bring to the industry is irrelevant. So we’re facing a shortage of quality operators.

“We want to make sure that the students we train have sound technical, and soft skills, so that they can work anywhere in the world.”

Chang said a relevant TVET syllabus is critical in ensuring that graduates are paid fairly.

Instead of cheap foreign labour, Sany, he said, preferred to pay young Malaysians who are serious about their careers.

“A TVET graduate can earn between RM3,000 and RM4,000 if their syllabus is industry-relevant. For example, our troubleshooting is all computer-run so we can’t get someone who only knows hardware,” he said, adding that Sany is willing to work closely with the Government on its TVET policies.

Sany has also engaged with the National Union of the Teaching Profession (NUTP) to identify potential trainees.

NUTP secretary-general Harry Tan said TVET and varsity graduates must be given equal recognition.

“Our TVET graduates aren’t paid enough. But then again, for them to be hired and to get a good salary, they must be trained in skills that the industry want – not the current syllabus. If the Government is serious about TVET, it has to get its act together – fast.”

On Dec 28, The Star’s exclusive highlighted concerns over the outdated TVET syllabus, and plans by industry leaders to chart the way forward. The newly formed “Industry Lead Bodies” would ensure that Malaysia’s TVET was on par with developed nations like Australia and Canada.

Two months ago, the mid-term review of the 11th Malaysia Plan (11MP) – a five-year development plan for the country from 2016-2020 – was tabled at the Dewan Rakyat by Prime Minister Tun Dr Mahathir Mohamad.

The report found that the intake of TVET students has increased and though classified as technologists, graduates are not recognised as professionals with the bargaining power to demand higher wages.

Source: www.thestar.com.my

Comment: Yes, selecting the candidate with right attitude is VERY VERY important. A candidate with right attitude like passion in the subject matter and willingness to keep on learning (should be lifelong) other skills & knowledge is far more important than just being skillful in one particular subject matter but having a lousy attitude (in their work or their learning)

Preparing Malaysians for the work of the future

Kursus Induksi PP-PPD/PP-PPT/PPL,
The integration of on-the-job training and lifelong learning into TVET curriculum can ensure that graduates are job-ready, yet adaptable to changing skills requirements.
By HAZLINA AZIZ
November 8, 2017 @ 10:42am
HAZLINA AZIZ

“WHAT do you want to be when you grow up?” This is one question we have all been asked at one point in our lives, whether the answer requires a 350-word essay or just one-word, usually referring to a job.

How does one answer this same question today with automation taking place and the fact that many jobs of the future do not exist yet?

A good example is social media jobs. It is hard to imagine a high-paying social media job a decade ago and this same job may be completely transformed in the near future, if it still exists at all.

Over one-third of skills that are considered important in today’s workforce will probably have changed five years from now based on research by the World Economic Forum (WEF). The young people today will need a portfolio of skills and capabilities to navigate the complex world of work in the future.

In fact, a report by Deloitte University Press on “Re-imagining Higher Education” predicts that 50 per cent of the content in an undergraduate degree will be obsolete within five years due to the impact of digital transformation.

While we talk about the future of work — which jobs will disappear and which will remain — we also need to shift the focus to understand the skills and capabilities in demand.

Another WEF report, The Future of Jobs, identified complex problem solving, critical thinking and creativity as the top three skills out of 10 that workers will need in 2020.

Although active listening is considered a core skill today, the report said that it will completely disappear from being an important skill at the workplace. Instead, emotional intelligence is said to become one of the top skills needed by all in the future.

Linear careers, where the path begins with the choices you made in the subjects you studied at university before entering the world of work, will be far less common. There is a strong need to constructively engage employers in changing the education system in the years to come.

The allocation of RM4.9 billion for TVET (technical and vocational education training) institutions in the 2018 Budget is definitely more necessary now than ever before to prepare for the work of the future.

Malaysia plans to have 35 per cent of skilled workforce by 2020 to achieve a high-income nation status. The government has also set a goal to increase the country’s percentage of skilled workers to 45 per cent by 2030. It is about time the country upgrades its TVET system.

If there is one thing that TVET can do is that it could provide a means of tackling unemployment. Vocational education tends to result in a faster transition into the workplace and countries that place greater emphasis on TVET have been successful in maintaining low youth unemployment rates.

However, a negative social bias has often prevented young people from enrolling in TVET. Although vocational subjects are more varied, they are often poorly understood.

Many people associate vocational track programmes with low academic performance, poor quality provision and blocked future pathways that do not lead to higher education. Young people and parents shun vocational education, which they regard as a “second-choice” education option.

Academic subjects are valued more highly than vocational ones. Medicine, law and engineering are seen as career options with huge earnings potential. Several academic studies also caution against specialising vocational subjects at a young age because they are more specific and directly related to particular occupations.

For TVET to be valued as the equal of academic education, further education providers should not be overlooked.

The integration of on-the-job training and lifelong learning into TVET curriculum can ensure that graduates are job-ready yet adaptable to changing skills requirements. The funding is necessary so that TVET institutions can upgrade learning environments and invest in professional development. In return, it can raise teaching quality by increasing the qualification levels of the instructors and making pedagogical training obligatory.

Finland is one example of TVET success — a result of external and internal policy shifts — that we can learn from. The country’s systematic efforts since 2000 to upgrade the quality and status of TVET has lead to an increased percentage of application for the programmes from the Finnish youth.

TVET institutions in this country received the same basic and development funding as general education institutions. The curriculum has been restructured to include the national core curriculum required for access to university, as well as strong on-the-job training and lifelong learning components. TVET students are allowed to progress to further studies at university or applied sciences level.

Many parents’ worst nightmare is seeing their child aimlessly chasing dream without achieving anything. It is time that we should retire asking the young ones on what they want to be when they grow up.

Instead, we should provide accurate information and exposure to where future jobs will exist, including the skills to craft and navigate their careers.

It looks like learning and adapting will become more apparent in the future of workforce. As more students will find themselves doing work that does not exist, we should prepare them intellectually, socially and emotionally to continuously adapt to changes.

Source: www.nst.com.my