Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Baby Boomers less optimistic about upskilling

Millennials say upskilling = more money; Baby Boomers less optimistic


Upskilling keeps you relevant and employable in the face of the Fourth Industrial Revolution’s rapid rate of workplace change, but a survey by recruiting experts Hays shows the majority (71%) of Millennials also believe it should lead to a salary increase.

“The Fourth Industrial Revolution is here and rapidly gaining ground,” says Jason Walker, Managing Director of Hays in New Zealand. “Many job responsibilities are changing in response to artificial intelligence (AI), the Internet of Things and cloud computing while technology is also increasing how fast our knowledge and skills are becoming outdated.

“We all know we need to consistently upskill to stay relevant and employable, but some generations are more likely than others to think they should be financially compensated for their learning through a higher salary in the long run,” he said.

According to Hays’s survey of 1,253 professionals, 5% said upskilling leads to a salary increase immediately, with 54% believing it will have financial benefits long-term. However, 35% said upskilling does not lead to a salary increase but instead serves to keep their skills employable. The final 6% were unsure.

A generational breakdown of these findings shows 71% of Millennials believe upskilling will lead to a higher salary in the long term. Only 56% of Generation X and 40% of Baby Boomers agree.

Instead, 50% of Baby Boomers say continuous learning keeps them employable.

Regardless of your view, Jason says upskilling is essential to remaining employable in today’s world of work. “Accelerating technological advancements mean staying still will see you become obsolete. Identify your skill gaps and take action. Say yes to new opportunities and don’t silo yourself,” he advises.

Image: Do you think upskilling yourself will lead to a salary increase?

Hays surveyed 951 employers and 1,253 professionals in Australia & New Zealand.

Hays, the world’s leading recruiting experts in qualified, professional and skilled people.

- Ends -

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

'Visionary' Leaders: Primary Sector Council Announced

A group of visionary agribusiness leaders is set to help our primary sector capture more value from its work, Minister of Agriculture and Rural Communities Damien O’Connor says ... More>>

ALSO:

Land Report: Issues With Soil Degradation

An environmental report released today has found we are damaging and losing our soils and our native plants and animals. More>>

ALSO:

Water Quality Report: Cause For Optimism

National River Water Quality Trends released by Land, Air, Water Aotearoa (LAWA) this week, reveal that for all river water quality parameters monitored over a 10 year period, more sites were improving than deteriorating. More>>

ALSO:

IMF Report On NZ: Positive Economic Outlook

Minister of Finance Grant Robertson has welcomed the IMF’s Concluding Statement, released following its annual visit, which provides an independent assessment of the strength of the New Zealand economy. More>>

ALSO:

Retail Power Price: Review Panel Named

The Energy and Resources Minister Megan Woods has released the details of who will sit on an expert advisory panel which is tasked with leading a review into the price of electricity in New Zealand. More>>

ALSO:

Increasingly Disruptive Threats: Govt Cyber Security Refresh

Broadcasting, Communications and Digital Media Minister Clare Curran today announced a comprehensive refresh of New Zealand’s approach to cyber security. More>>

ALSO:


Regional Growth: Action Plan To Modernise Taranaki’s Economy

The Provincial Growth Fund (PGF) will invest up to $20 million to help future-proof the Taranaki region by diversifying its economy, creating additional jobs and leveraging off the strong base the region has established through its oil, gas and agricultural ... More>>

ALSO: