Economic / Workforce Development
“Information Technology is a critical enabler of productivity and value creation in a knowledge-based economy. Employers will benefit from having a workforce equipped with ICT and digital competences”. Director, Generic Skills Development Division of Singapore Workforce Development Agency
Why digital skills are an important driver of economic growth?
During what are undoubtedly challenging times for the global economy, the need for a digitally skilled workforce and for ICT professionals possessing the prerequisite industry skills (or e-skills) becomes crucially important in meeting economic challenges, and in driving growth and employment.
As economic and labour patterns are evolving in favour of more ICT skills-based activities, it will be economies and organisations that have a more highly skilled workforce that will recover quickest as they demonstrate agility in providing new products and services or respond rapidly to increased demand.
This is also true of the need for economies to possess highly skilled ICT practitioners; analysis of variations in demand for e-skills under different economic scenarios indicates that even in a recession, there will be a continuing demand for high-skilled practitioners. What is important is that the right skills are available, and that in the coming years these skills are in keeping with the needs of the market place.
In relation to economic development, improved digital literacy, and a highly skilled workforce can:
- Increase workforce efficiency and effectiveness
- Create more and better jobs
- Attract domestic and foreign investment
- Shift economies to higher-value activity
- Increase productivity in organisations
- Provide opportunities for innovation and entrepreneurship
- Facilitate business communication and transactions
A 2010 study demonstrates how ICT-trained employees are more efficient, work quicker, and make fewer mistakes; and the time that supervisors and other colleagues spend dealing with difficulties is halved where employees have been trained.
Read the ECDL Foundation press release on the ALBA study.