A Jack of all Trades or a Master of nOne? Why not be both?
By 2030, the global talent shortage is expected to reach 85.2 million. The unemployment statistics and talent shortage may seem dire, but there is a silver lining.
The unemployment statistics may seem dire, but there is a silver lining. Like many organizations, Knowledge Pillars through its Live-in-the-App certifications, support measures taken by employers, academic institutions and certification vendors to strengthen the supply of validated skills across the globe to produce favourable economic incentives. According to U.S. Labor statistics, as of December 2020, the global talent shortage amounted to 40 million skilled workers worldwide. By 2030, the global talent shortage is expected to reach 85.2 million. Companies worldwide risk losing $8.4 trillion in revenue because of the lack of skilled talent. To add some perspective, the talent shortage of 85.2 million is equivalent to 747 football stadiums filled to capacity or roughly equivalent to the population size of Germany.
According to Korn Ferry’s latest reports due to the talent shortage in tech alone, the US could lose out on $162 billion worth of revenues annually unless it finds more high-tech workers. The future of work relies on Governments and organizations to take innovative steps to develop education programs that go beyond the traditional definition of learning and development and support the talent pipelines of tomorrow.
So, going back to the phrase, a Jack of all Trades or a master of none. This famous figure of speech dates back to the 14th century. Today this figure of speech is often misinterpreted carrying a negative connotation that changes the meaning completely. A generalist is sometimes referred to as a Jack of all Trades. A person who obtains certifications in more than one skill-set is also sometimes labelled a Jack of all Trades, but that does not mean they can’t be a master of one or vice versa.
To make a difference in the talent shortage supply we need to be rid of the stigma’s that exist and encourage people to learn as much as they can, giving them the freedom to tackle specific-skill-sets or to diversify and explore new avenues.
A Jack of all Trades is someone who possesses a diverse skill-set; can be a great asset for start-ups; are adaptable and flexible, and generally considered a good fit for leadership because they know almost every aspect of a business. A Master of One offers valuable expertise; high-quality performance outcomes; they save organizations time and money spent on training, but most importantly, a Master of One can become a Jack too.
Software developers, coders or web editors can have their fingers in a wide array of proverbial programming or web editing software platform pies and be comfortable using a wide range of applications and languages but they can also choose to channel their knowledge and specialize in the one they enjoy the most.
Knowledge Pillars offers a wide variety of coding and web editing certifications that focus on specific practical coding and web editing skill-sets. The advantage of these certifications is the fact that potential test-takers can find 90% of the preparation content online or through academic institutions and online training platforms. So we can agree, with the rising unemployment rates looming and the lack of talent supply spiralling being a Jack of all Trades and a Master of One is something that could deem fruitful for potential employers, job seekers, the unemployment rates and talent supply.