All skill development and workforce training occurs within the context of a regional labor market. Today's globally-interconnected economy is characterized by rapidly advancing automation, disruptive technologies, and innovations that cause industry sectors to transform on an ongoing basis.
Understand the Impact of Industry Restructuring
Business innovation and economic pressures lead to the restructuring of industries. This results in changes in their industry staffing patterns, and this impacts the type of skilled labor that businesses employ.
So, modified or new occupations arise from job classifications that are constantly evolving and emerging. Businesses may even combine duties and functions, drafting new job descriptions to create different mixes of requisite skill sets.
The World Economic Forum released Towards a Reskilling Revolution: A Future of Jobs for All that offers insight into this dynamic.
Find Your Transferable Skills
In a constantly changing business environment, the key to reemployment for many low wage, underemployed, displaced and discouraged workers is skill transferability. Finding, and building upon, your existing skills that transfer easily into new careers is the key to employment success in a volatile labor market.
There are tools that help workers identify the skills they possess that are transferable. Occupational skills, based on the O*NET classification system, are accessible in inventories and self-assessment tools that helps works identify the skills they already have and the skills they want to develop to become successful in a new career.
The Employment and Training Administration has built several tools into O*NET Online and CareerOneStop suite of online modules, and its Skills Matcher, MySkillsMyFuture and MyNextMove websites, where you can search for new careers with similar skills that you already possess.