Dubai – Masaader News
Japan faces the transformative effects of Globalization 4.0, as Fourth Industrial Revolution technologies put pressure on existing economic and social systems, 75 million jobs are expected to be displaced in 20 major economies by 2022, creating a need for public and private solutions to meet new labor demands, according to World Economic Forum.
In Japan, 99% of employees work for small businesses, which do not offer training as often as larger ones. Governments must thus strategically partner with businesses to create reskilling initiatives and support investments in three main areas: people’s capabilities, institutions related to work, and high-growth sectors.
According to the 2019 Towards a Reskilling Revolution report, it is in the financial interest of companies to take on reskilling for 25% of those employees who are at risk, even taking into account indirect societal benefits. Companies that are robust at retraining in a non-traditional manner will be ahead of the game.
Japan also faces the demands of increasing life expectancies. There must be a cultural shift to provide life-long learning opportunities and supportive ageing policies in the workplace.
There is an incredible opportunity for Japan to overcome these challenges by focusing on inclusive reskilling, which aligns with the country’s commitment to Society 5.0, a human-centered approach to economic advancement. As the country enters a new era, Japan can champion inclusivity, adaptability and gender parity to meet the challenges of the future.