The world is witnessing a period of rapid creation and dissemination of knowledge. It is also becoming increasingly integrated or globalized, thanks to the spread of information technology, the ease of modern travel and transportation, and the pressures of population growth and mass migration. These changes have profound implications for the design of HD policies, particularly education/training and social protection policies that ultimately influence the evolution and distribution of skills in the labor force, as well as the functioning of the labor market where the supply of skills meets the demand.
Training to build job-related skills becomes a critical step to employability and productivity. Governments will need to rethink education and training policies recognizing the multiplicity of channels through which skills are acquired and emphasizing the role of incentives and individual choices in determining outcomes. Such training takes diverse forms and occurs in various settings. It could occur through pre-employment training, active labor market programs, or on-the-job-training, and it may take place in technical and vocational education and training (TVET) schools, in universities and other tertiary institutions, in NGOs, and in enterprises.
Investments in training can have high payoffs for individuals as well as for their employers. However, many developing countries in fact struggle to address mismatches between the skills, attitudes and knowledge of graduates and the expectations of employers; and to foster lifelong learning to keep workforce skills relevant to changing needs. In each of these domains, cross-country experiences offer useful perspectives that can inform the efforts of countries seeking to accelerate growth through strategic reforms and investments in training to build job-related skills.
Youth Employment ¦ Vocational Education & Training ¦ Skills Development Strategies: Lessons from the Korean Experience & Global Trends ¦ Stepping Up Skills for More Jobs and Higher Productivity