the Hong Kong finance sector payout of some HK$25 million ($3.2 million) following a video call with a ‘deep fake’ chief financial officer. The next case involved Yahoo, which has confirmed that its CEO has departed following what is being described as “a resumé scandal”; in fact, a recent survey suggests that up to 70 per cent of workers lie on their CVs. POK’s proposition is timely in this regard, commented Daniels, as the company can certify skills with 100-per-cent secure and tamper-proof micro-credentials to maintain high standards. The use of non-fungible tokens, or NFTs, helps to build confidence in digital credentials.
Certifying skills in a constantly evolving world The session from sponsor POK, a platform that ensures transparency and provides proof of knowledge, examined one of the principal challenges of the 21st century: namely skill validation in a world of constant change and evolution. Co-founder and chief business development officer Lawrence Daniels began by examining the current state of the workforce, noting that most individuals will change careers up to seven times during their lives and as many as 30 per cent change jobs every year. Daniels then moved on to look at evolving skills, remarking that 76 per cent of the top 20 requested skills have changed since 2016; one in four skills requested for the average US job is an entirely new requirement in the occupation; and three in four jobs changed more between 2019 and 2021 than in the previous three years. In fact, almost half of workers’ skills will be disrupted over the next five years. Meanwhile, some 93 per cent of leaders have gone on record as saying that they need to move from a job‑based to a skills-based approach in order to succeed. Moving on to lifelong learning, the POK co-founder revealed that 63 per cent of working adults see themselves as “professional learners” and are engaged in career development. Meanwhile, some four in five adults consider themselves to be lifelong learners and plan on engaging in professional development every year. No fewer than 72 per cent of executives have reported that talent gaps and shortages represent the top business challenges their companies face. Indeed, 52 per cent of CEOs surveyed by Boston Consulting Group and PwC responded that a lack of skills in the workforce was one of the factors inhibiting the company from changing the way it creates, delivers and captures value. Overall, 60 per cent of organisations report that skills gaps are their biggest barrier to transformation. Turning to the consequences of lack of validation, Daniels reported on a couple of modern-day scenarios: first up was
Transforming institutions to maximise social impact Insights and Innovations for Generating Social Impact was the title of the presentation given by Horacio Arredondo, dean of Egade Business School at the Monterrey Institute of Technology in Mexico. He identified sustainability as one of the primary goals in the context of social impact, referring to a 2023 edict from UN-supported initiative PRME (principles for responsible management education). This defines the concept as “the creation of inclusive prosperity while promoting freedom, justice and peace within regenerative and resilient natural ecosystems”. Arredondo noted that business is still the most credible institution, referring to a survey that showed it is trusted by 63 per cent of the population, compared to 59 per cent for NGOs, 51 per cent for government and 50 per cent for the media. Indeed, government is evaluated as being “less competent and ethical” than the business sector, while teachers are among the most respected group of individuals in society, trusted by 77 per cent of the population compared to just 42 per cent for government leaders. “We have a unique opportunity to transform our institutions, so they are more relevant and have a greater impact in shaping a more positive future for our countries and regions”, declared the Egade dean. He then elaborated on the school’s new strategy, which involves developing a framework enabling it to map current actions and desired future outcomes. There has been a greater emphasis on those SDGs defined as priorities; research resources have been aligned with purpose and strategy; and there is an increased focus on the faculty hiring strategy. The school has reformulated its educational model and redesigned its portfolio to increase social impact. In addition, Egade has created spaces where it is an “enabler of change”, building local, national and global alliances, such as with the Secretary for Equality & Inclusion in the Mexican state of Nuevo Leon.
18 | Ambition | DECEMBER 2024
Made with FlippingBook - Share PDF online