Employability Skills for the Future

1. Employability Skills for the Future

2. What is this Product?

3. What is common among these products?

4. Services also get obsolete!

5. No product, service or industry is permanent though some may last longer than the others.

6. Changes getting Faster and Industry Lifecycle Getting Shorter! • Music Industry – An Example • Gramophone – 1906 to Seventies • Analog audio tapes – Sixties to Nineties • Compact Disc – Late Eighties to about 2010 • Pen Drive – 2010 to date • Blue Tooth speakers – 2015 to date • Smart Speakers – 2017 to date • Numerous other industries – Banking, IT, Telecom, Automobiles, Movies, Retailing, Health Insurance, cycle rickshaw, autos…

9. Human Lifecycle

10. Industry/Product Lifecycle PNG

11. Impact of Industry Life Cycle on Jobs Few and new type of jobs High risk and high return Highly variable compensation High stress, long working hours High job growth, employees moving from other industries/ expertise Fast rise in salaries & promotions Stretched working hours Slow job growth Slow rise in salaries & promotions Stable HR policies High focus on productivity & performance of employees Job losses Uncertainty about career Employees making efforts to re-skill

12. Changes are not only disrupting industries, but also eliminating vast variety of jobs and creating many new types of jobs.

13. New Bull in a China Shop – Artificial Intelligence Credit

14. Impact of Automation and Technologies on Work – Expert Views • Mckinsey Global Institute Study • 5% of over 2000 work activities in the world will get completely automated but automation to affect all work (Garden to CEO) partially. • Highly skilled workers to benefit but low skilled workers to be worse off. • In two decades, automation to reach 50% of all of today’s activities. • World Bank Development Report (2016) • 69% of jobs in India and 57% in developed countries to be replaced by automation • MIT professors Erik Brynjolfsson and Andrew McAfee in The Second Machine Age • “Technological progress is going to leave behind some people, perhaps even a lot of people […] there’s never been a better time to be a worker with special skills or the right education, […] there’s never been a worse time to be a worker with only ‘ordinary’ skills and abilities to offer, because computers, robots, and other digital technologies are acquiring these skills and abilities at an extraordinary rate.”

15. THREE ERAS OF AUTOMATION ERA ONE Machines take away the dirty and dangerous- Industrial equipment, from looms to the cotton gin, relieves humans of onerous manual labor. ERA TWO Machines take away the dull- automated interfaces, from airline kiosks to call centers, relieve humans of routine service transactions and clerical chores.

16. ERA THREE Machines take away decisions- intelligent Systems, from airfare pricing to IBM’s Watson, make better choices than humans, reliably and fast.

17. What do you need to know to prepare for jobs that don’t yet exist? How can college prepare you to thrive in an uncertain future?

18. Idea in brief THE REFRAMING The outlook is grim if computers continue to chip away relentlessly at the tasks currently performed by well-educated people. But if we reframe the use of machines as augmentation, human work can flourish and accomplish what was never before possible. THE THREAT Automation has traditionally displaced workers, forcing them onto higher ground that machines have not yet claimed. Today, as artificial intelligence encroaches on knowledge work, it can be hard to see how humans will remain employed in large numbers. FIVE STEPS Some knowledge workers will set up to even higher levels of cognition; others will step aside and draw on forms of intelligence that machine lack. Some will step in, monitoring and adjusting computers’ decision making; others will step narrowly into highly specialized realms of expertise. Inevitably, some will step forward by creating next-generation machines and finding new ways for them to augment human strengths.

19. FIVE PATHS TOWARDS EMPLOYABILITY

20. Impact of Intelligence Applications and other Digital Technologies on Nature of Jobs (3 – 5 years) • Jobs requiring data collection, MIS preparation and reporting • Jobs requiring break down maintenance/ services • Supervisory work relating to work or resource allocation, monitoring and control • Analytics roles • Data scientists • Data communication relating roles • Programming experts • IT security experts • Project management

21. Eight Unmet Needs 1.Gaining Global Perspective : Identifying, Analyzing and practicing how best to work in economic and cultural difference across countries 2. Developing Leadership skills : Understanding the responsibility of leadership, developing alternative approach towards inspiring and guiding. Conducting performance reviews and giving critical feedback 3. Honing Integration skills : Thinking about issues from diverse angles to frame problem statement. E.g. high attrition rate 4. Recognizing Organizational Realities : Understanding political coalitions, hidden agendas and unwritten rules 5. Acting creatively and Innovatively : Engaging in lateral thinking and constant learning 6. Thinking Critically and communicating effectively 7. Understanding Purpose of Business: Balancing all stake holders 8. Understanding Limits of Models and Markets Source HBR- Rethinking MBA

22. Filling Unmet Needs Focus on 4 Clusters

23. Rebalancing Management Curriculum Knowledge (“Know”) Skills (“Do”) Identity/Self-awareness (“Be”)

24. Teaching :Thinking critically and communicating clearly at Stanford University • Developing and articulating logical, coherent, and persuasive arguments • Marshalling supporting evidence • Honing integration skills • Learning to make decisions based on multiple, often conflicting, functional perspectives Knowing • Doing • Finding and framing problems • Collecting, synthesizing, and distilling large volumes of ambiguous data • Engaging in generative and lateral thinking • Constantly experimenting and learning

25. Being • Understanding the purpose of business and the responsibilities of leadership • Developing alternative approaches to inspiring, influencing, and guiding others • Recognizing the impact of one’s actions and behaviors on others • Building awareness of personal strengths, weaknesses and values

26. Areas of additional emphasis • Practice orientation – From class room to industrial experiential learning • Increase number of Projects • More current/ Contemporary Case Studies • Focus more on hand on problem- First hand interaction of faculty with industry • Tie-UP with industry with live projects • Semester Long Internship – Apprenticeship before award of degree • Process based training exposure • Team Work • Team Projects to be promoted • Team Assessment to be a part of final rating • Ability to develop and manage team • More co curricular activities to improve soft skills • Capability of Learning • Conscious ability to Learn • Learn while doing • Certified Companies as teaching partners

27. Areas of additional emphasis • 4. Provide students the “practitioner's perspective • 1 . High Level Corporate inputs during intake to students • 2. Inputs Curriculum • 3. providing the opportunity to test theory through practical application, • 4. creating links for research and consultancy. • 5. Provide Students with Global Perspective • Understanding International market shifts • Understanding Cross Cultural issues • Understanding the management styles of different regions • Understanding how theories and frameworks should be adapted in a global contex • 6. Analytical and Critical thinking • Developing and articulating logical, coherent, and persuasive arguments • Marshalling supporting evidence • Honing integration skills • Learning to make decisions based on multiple, often conflicting, functional perspectives

28. How to Prepare for the Future • “Change before you have to” • Jack Welch, Ex- chairman GE “In today’s knowledge-based economy, what you earn depends on what you learn”. Bill Clinton, Ex-President

29. How to Prepare for the Future – Short/Medium Term Perspective • Get noticed and differentiated • Take initiative and participate in company projects • Take initiative and participate in public speaking opportunities (polish your public speaking) • Initiate special interest (Technology, Writing skills, Book) clubs in your division/department or among your friends • Develop deeper and wider understanding in the field of your work or interest (Read regularly and extensively) • Identify popular websites in your field and ask questions, comment and write so that you develop confidence and start getting noticed (Polish your writing skills) • Pursue Courses on your own (MOOC Courses, YouTube Channels) • Never miss attending a training opportunity – both as a learner and trainer

30. World of MOOCs (only Coursera) Source: The Times of India 26th Sep, 2018

31. World of MOOCs • Aggregators • Class Central • MOOC List • CourseBuffet • Websites • Over 20 major MOOC providers (Coursera, EdX, Udacity, Khan Academy, etc.) • Swayam – India • NPTEL – India (National Prog on Tech Enhanced Learning) • …. • Course Providers • Over 800 universities • Private course providers

32. Everybody thinks of changing the world, nobody thinks of changing himself. Leo Tolstoy

33. Thank You