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  • Writer's pictureOnyeka Abengowe MBA, MS, CNMT, LGBH, CTC,CBN

How to thrive in a skills-based economy

Updated: Oct 9, 2021

When was the last time you changed jobs? If you haven't interviewed in the last one year, at least you know one or two people who did. The world economy was already shifting towards substituting practical skills and relevant industry certifications for formal education in certain industries where job-ready skills tend to be highly valued. The IT industry is a great example where it is possible to land high five to six-figure technology jobs without a 4-year college degree. There are also some healthcare careers that offer opportunities to earn high 5 figures without a 4-year college degree.

The world has been dealing with COVID-19 for over a year, with thousands of jobs eliminated or consolidated into a skeletal crew of home-based workers. The job landscape will never be the same as some eliminated jobs have become obsolete, irrelevant or just no longer make sense for the bottom line and so will never come back. The pandemic has escalated the shift towards skills-based hiring, resulting in higher demand for skills acquisition and development training. It is no longer enough to have a college degree. Industry-specific certifications, as well as soft skills are fast becoming a requirement across all industries.