What's the best investment right now?
Where should you invest your time, effort and money?
To answer, look at how the digital economy alters the business landscape and changes the returns to skills—and see what this means for you if you’re a parent, student, jobseeker, educator, business manager, Dean or CEO leading an organization to the future.
Data shows that employment and compensation growth has been strongest for jobs requiring high levels of both math skills and social skills. In fact, labor market return to social skills was much greater in the 2000s than in the mid 1980s and 1990s.
What’s driving this?
To put it simply, the tasks that people are expected do at work are increasingly more analytical and more collaborative.
This change requires stronger quantitative skills (to solve problems) and stronger people skills (to play well with others).
According to research from Harvard, strong social skills are the “grease” of coordination and collaboration that enables workers to seek help, share learning, allocate tasks, and work better together—which, in turn, produces superior business results.
Indeed, digital intensive businesses pay more for stronger social skills and quantitative skills because these skills provide the the business a strategic edge.
What’s the takeaway?
Follow the money and invest in these skills.
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