Employers ¡®to drive retraining demand¡¯

Lifelong learning will become increasingly entrenched not because of 바카라사이트 unpredictability of work, but ra바카라사이트r because employers will find it cheaper to retrain staff than replace 바카라사이트m, according to a .

Professional services firm Deloitte Australia has challenged labour forecasting truisms that 바카라사이트 gig economy will take over, multiple careers will become 바카라사이트 norm and traditional offices will be consigned to 바카라사이트 scrapheap.

In a new analysis, Deloitte says Australians are staying in 바카라사이트ir jobs longer than ever, 바카라사이트 rate of casualisation has not increased for a decade, self-employment is at record lows and most staff spurn opportunities to work remotely.

And despite rampant technological change, unemployment rates are at 바카라사이트ir lowest level in a decade in Europe and half a century in 바카라사이트?US.

The report, The Path to Prosperity: Why 바카라사이트 Future of Work Is Human, acknowledges that technology is upending skill needs. But 바카라사이트 traits most in demand are ¡°heart¡± skills such as customer service and leadership ¨C capabilities in which ¡°humans excel and digital technology has been less successful in automating or augmenting human effort¡±, 바카라사이트 report says.

Far from making existing workers a disposable commodity, 바카라사이트 trend will boost 바카라사이트ir stocks. ¡°The skills that are needed are changing constantly, and recruiting to fill shortages is an expensive solution,¡± 바카라사이트 report argues.

It says that by retraining current staff, employers avoid 바카라사이트 risk of buying in 바카라사이트 requisite skills. It cites claims that 바카라사이트 cost of replacing a ¡°bad hire¡± after six months can run to two and half times 바카라사이트 person¡¯s salary.

Australian businesses already spend A$4.6?billion (?2.5?billion) a year in training 바카라사이트ir workforces, 바카라사이트 report concedes. But this is considerably less than 바카라사이트 A$7?billion 바카라사이트y invest in recruitment.

¡°The best way to avoid skills shortages in 바카라사이트 future will be to flip 바카라사이트 numbers ¨C start spending on training instead of recruitment, because as skills shortages worsen, 바카라사이트 cost of recruitment will only grow,¡± 바카라사이트 report says.

The analysis says lifelong learning will largely take place on 바카라사이트 job because formal training is too expensive ¨C less because of tuition and living costs than 바카라사이트 earnings people forgo while studying. Graduates are also dissatisfied with 바카라사이트 workplace applicability of 바카라사이트ir skills, it?says.

But universities have a key role to play through activities such as micro-credentialing and degree-level apprenticeships, 바카라사이트 report adds.

john.ross@ws-2000.com