As we propel ourselves into the future, it's evident that the traditional notion of success, solely hinged on a university degree, is no longer sufficient. According to the McKinsey Global Institute's 2017 report, up to 30% of global work activities will become obsolete by 2030. To thrive in this ever-changing landscape, both educational institutions and employers must adapt to the demands of a dynamic digital economy.
And as our economy evolves, Micro, Small, and Medium Enterprises (MSMEs) play a crucial role in driving innovation and economic growth. They are nimble, adaptable, and often at the forefront of technological advancements. For MSMEs to thrive in the digital age, it is crucial to align their workforce with the emerging job trends and skill requirements outlined in this blog.
Investing in digital skills and technologies is particularly vital for MSMEs to remain competitive. The ability to leverage data and AI, utilize software and technology effectively, and capitalize on the opportunities presented by the green economy can significantly enhance their growth potential. By nurturing talent with the right skill sets, MSMEs can seize new market opportunities, expand their customer base, and optimize their operations.
Furthermore, MSMEs are known for their close-knit work environments and personalized customer experiences. People and culture professionals will continue to play a vital role in maintaining a positive work culture, attracting and retaining talent, and fostering effective leadership within these organizations. By prioritizing employee learning, recruiting the right talent, and embracing diversity, MSMEs can create a conducive environment for innovation and growth.
On the occasion of Micro, Small, and Medium-sized Enterprises (MSMEs) Day (June 27), let's explore the 5 most in-demand roles of the future and how they intersect with the growth and development of MSMEs.
Data and AI:
With 70% of Southeast Asia now connected online and the recent acceleration due to COVID-19, the region is expected to witness the creation of 150 million new technology jobs within the next 5 years. Data and AI will be at the forefront of this transformation.
Top 5 Skills: Artificial Intelligence, Data Science, Data Storage Technologies, Development Tools, Software Development Life Cycle.
Data analysts are highly sought after, ranking 5th globally in demand, according to 2021 LinkedIn's annual Jobs on the Rise report. As the currency of the future, the ability to process and extract value from data will be a critical 21st-century skill. Cybersecurity roles will also be essential to ensure secure and controlled data handling as digitalization increases. Other emerging jobs include Artificial Intelligence Specialists, Data Scientists, and Data Engineers, making data-savvy employees in demand across industries.
Software and Technology:
As companies adopt new technologies, the demand for skilled professionals in software and technology roles remains high. In Southeast Asia, the economies driven by manufacturing, trade, and urbanization will fuel this demand.
Top 5 Skills: Development Tools, Web Development, Data Storage Technologies, Software Development Life Cycle, Computer Networking.
The pandemic has further accelerated the need for technology specialists, particularly in healthcare, education, and finance. To succeed in future workplaces, individuals with interdisciplinary education and a lifelong learning mindset will be highly valued as technology continues to merge with various industries.
Green Economy:
With growing investments in green technology, the Green Economy has become a haven for some of the fastest-growing professions globally. The International Labour Organization (ILO) predicts that a shift towards a greener economy, with the right policies in place, could create 24 million new jobs.
Top 5 Skills: Digital Marketing, Wind Turbines, Landfill Gas Collection, Social Media, Equipment Inventory.
The sustainable energy sector will require graduates with vocational skills to support the growth of new technologies, such as renewable energy, electric vehicles, and energy efficiency. Additionally, there is a significant demand for digital marketing and media skills to promote and boost these green initiatives.
Sales, Marketing, and Content:
In the digital economy's growth, digital marketing has risen to prominence, especially for the creative sector. Social media and online content production will be critical future skills.
Top 5 Skills: Digital Marketing, Social Media, Business Management, Digital Literacy, Advertising.
Media leaders project that digital subscriptions, e-commerce, and events will be essential revenue streams in the coming years. Businesses have increasingly adopted digitalization in various aspects of sales and marketing, including customer service, partnerships, and business development.
People and Culture:
While digital transformation is shaping the job market, certain professions emphasize the importance of human interaction and creativity.
Top 5 Skills: Recruiting, Human Resources, Business Management, Employee Learning, Leadership.
The pandemic has reinforced the significance of people and culture professionals in fields like mental health, customer service, and education. Amidst an uncertain job market, both individuals and businesses turned to professional services for employment and recruitment assistance. IT recruiters, human resources partners, and talent acquisition specialists are among the prominent emerging jobs in this space. In 2020, there was also a 64% increase in the hiring of workplace diversity experts.
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According to the United Nations, MSMEs account for more than 90% of all businesses worldwide and contribute to approximately 50% of global employment. Recognizing their significance, we explore how the most in-demand roles of the future intersect with the growth and development of MSMEs.
As individuals, institutions, and businesses, we must recognize the symbiotic relationship between the most in-demand roles of the future and the success of MSMEs. By aligning our educational systems, skills development programs, and employment opportunities with the evolving needs of MSMEs, we can create a future where innovation, economic growth, and sustainable development go hand in hand.
On MSME Day, let us celebrate the contributions of micro, small, and medium-sized businesses and commit to fostering an environment that empowers them to harness the potential of the future workforce.
