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Upskilling for shared prosperity
A report by PwC and the World Economic Forum urges bold action on upskilling to create inclusive economies and societies
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In recent years, the rise of automation and new technologies has transformed the world of work. The COVID-19 pandemic has accelerated these trends and widened inequalities, resulting in the urgent need for large-scale upskilling and reskilling to ensure people around the world develop the skills they need for the jobs of today and tomorrow.
In our new report, developed in collaboration with the World Economic Forum, we make the case for upskilling and highlight some of the challenges, including the disconnect between current education programmes and the skills employers need now and in the future. We also recommend steps businesses and policymakers can take to create more inclusive and sustainable economies.
The research is underpinned by results from economic modelling conducted by PwC, along with examples of successful collaborations that can be replicated and scaled.
By giving all people opportunities to build the skills they will need to fully participate in the future workplace, we can start to create more inclusive and sustainable economies where no one is left behind.
Explore the data
PwC's model presents the net economic impact of closing the skills gap across industries, countries, and regions. Use the data explorer below to see the boost to GDP by 2030 of countries upskilling their workforces in line with OECD industry best practice by 2028. Alternate scenario details and the full report can be downloaded here.
Source: PwC UK Economics analysis 2021
Call to action
Governments, businesses, and education providers should work together to build a strong and interconnected ecosystem committed to a comprehensive upskilling agenda.
Governments should adopt an agile approach to driving national upskilling initiatives, working with businesses, nonprofits and the education sector.
Businesses should anchor upskilling and workforce investment as a core business principle and make time-bound pledges to act.
Education providers should reimagine upskilling and reskilling, and embrace lifelong learning to ensure everyone has the opportunity to participate in the future of work.
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Global Tax and Legal Services Leader, London, PwC United Kingdom
Bhushan Sethi
Andrea Plasschaert
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