Today's global knowledge economy requires individuals and companies alike to quickly adapt to new tools and strategies. To remain competitive, both must continually upgrade their skills. In the United States, however, support for ongoing education lags far behind other developed nations, creating a crippling skills gap. How did we get to this point, and why are other countries faring markedly better?
JASON WINGARD, PH.D is Managing Director and Chief Learning Officer at Goldman Sachs. He was previously Vice Dean of Executive Education and adjunct Professor of Management at the Wharton School.
This handbook clearly and proactively articulates the changing environment and market context facing today's businesses and related workforce. It highlights the imminent challenges that dictate success or failure and establishes an aggressive call to action for organizations to work together to create a lifelong learning system that is responsive and sustainable.
In the past the 3 R's combined with on-the-job training were adequate for a stable, lifelong career. Today the knowledge economy requires the four C's: communication, collaboration, critical thinking, and creativity. A recent survey of employers indicated that a lack of technical skills is not the biggest problem when they recruit younger workers. Rather the biggest problem is about productive and responsible habits and dispositions toward work. Younger workers, in particular, have not been prepared for the collaborative and dynamic nature of work in the knowledge economy.
Each of the programs described in this book is a complex endeavor that enhances benefits including the participation of multiple partner organizations, engaged stakeholders, and a deep understanding of the needs of the stakeholders.
The United States currently lacks a system for high-quality education and workforce readiness. We can either choose to invest in our people and maintain the dynamic economy and high-quality living in the United States, or we can slide into a stagnant economy and increasing disparities in the quality of life in this country. To remain competitive, businesses must invest in their most expensive and most valuable asset - skilled employees. Even in cases where the cost of training is higher than it has ever been, the relative cost of not doing it is even greater. Staff turnover and recruitment are unnecessary expenses, and they cost more than investing in employees. Further, the return on investment for people development is now higher than it has ever been, given the increasingly rapid advancements in technology and innovation.