With the introduction of new technologies quickly driving workforce demand for talent, QI Group Chairman Vijay Eswaran is looking ahead to the opportunities younger generations have to contribute and the pitfalls in education that are resulting in a threatening skills gap. “We have reached a pivotal moment when inaction in education and workforce development could cost the global economy dearly,” explained Eswaran in an article published by the World Economic Forum.
As students preparing to graduate from education systems consider their employment options, many are finding that the competitive landscape is a mismatch for their talents. To counter this, some are taking less traditional routes to employment and targeting careers in social media or influencer roles that promise financial independence. However, many of these opportunities are less successful than they may appear. Unfortunately, Vijay Eswaran noted that this tendency is rife across the Asia-Pacific region, where students are questioning the value of a traditional advanced degree in helping them reach their employment and financial goals.
Indicative of this trend is the rising unemployment among younger generations. In China, it’s given rise to what Eswaran calls “the ‘rotten-tail kids’ phenomenon. This is when college graduates are compelled to accept low-paying jobs or depend on their parents’ pensions. This reflects a significant misalignment between educational outcomes and labor market demands, highlighting the urgent need for reforms that equip young people with skills relevant to the current economic landscape.”
Vijay Eswaran: ‘Job Categories That Don’t Exist Yet’
Vijay Eswaran suggested that education systems and employers work together to identify the skills and tools needed for new graduates to be better integrated into the workforce. Citing the World Economic Forum’s “Future of Jobs” report, he shared that “65% of children entering primary school today will work in job categories that don’t exist yet.” To this end, educational content will need to evolve with the changing job market to prepare students for employment. Whether this includes traditional degree programs or collaborations that offer apprenticeships focused on technological skill development remains to be seen.
Those countries whose education systems are embracing change are seeing different employment outcomes for new graduates. In Mali, the country’s Kabakoo Academies are designed as establishments that honor both Indigenous knowledge and education while presenting high-tech content. Graduates have experienced a 44% income increase through these intentionally designed upskilling programs. Other countries like Nigeria are using artificial intelligence and social media platforms to expand educational content beyond traditional curricula.
Workforce development through the provision of educational content designed for modern employment opportunities may be a clear pathway forward for younger generations. However, Vijay Eswaran explained that these considerations should also be addressed with an eye to inclusivity. As countries revisit their education programs, underserved communities and demographics should not be left behind. “Strategic investment in learning technologies with emphasis on accessibility and affordability,” Eswaran explained, should be a key priority in global educational transformation. Social inequity may only further restrict progress for countries and their workforces as they look to embrace digital solutions in, and for, educational purposes.
