This document discusses steps that various groups can take to address talent shortages resulting from rapid technological changes. It suggests that companies provide cross-training for employees, change hiring practices to consider vocational training and less education, and invest more in continuing education. Entrepreneurs could create training companies or those addressing gaps. Bankers are encouraged to fund entrepreneurs and educational initiatives to help address issues. Everyone will need to play a role to minimize impacts of these changes to the workforce.

1. ROBOTICS IN STEAM EDUCATION
#EDUCATION UNBOUND

2. I explained in my previous blog that the world is
facing significant talent shortages resulting
from quick technology and renewable energy
evolution. The driver for the shortage is the
growing need for new skills, and the slow
change in the supply of such skills.

3. This trend is made worse by the advent of
automation, robotics and Artificial Intelligence
(AI) that is making many traditional jobs
obsolete, and resulting in major unemployment
potential.

4. In this and the next blog, I will address, in a
summarized fashion, what humanity needs to
do in order to prepare. I say humanity because
EVERYONE will have to do something so we
can minimize the impact of these changes. In
this blog, I start with the business community
and what it can do. In Part 2, I will address what
parents, individuals, government, and
educational institutions can do.

5. A) Private Companies
Private companies will hurt the most from the
two trends above and will benefit the most from
the solution. As a result, companies are
expected to do the most in helping us prepare.
The list below is an example of the steps that
companies could take to help the situation. This
list is not comprehensive, and I invite others to
help me add new ideas and suggestions.

6. Companies in shrinking industries need to cross
train employees before laying them off, to prepare
them with new skills that they could use in growing
industries
Companies should change their hiring practices in
many ways:
Reduce the initial requirements and accept 2-year
degrees or vocational training.
Hire, train, then promote “Upskill and backfill”
Recruit for work experience and skill, not
education.
Introduce apprenticeship and internship programs.

7. Provide guidance and mentoring for young talent.
Increase investment in employee continuing
education.
Expand in-house training and reinvent training
tactics.
Invest more in predictive analytics solutions to
learn how their business is evolving and what needs
to be done. Examples are Visier, Tableau, or
TrenData.

8. B) Entrepreneurs
Entrepreneurs have a significant role to play in
preparing. In fact, by definition, entrepreneurs
create value by identifying a need in the market and
providing solutions to address such need. And what
a need there is. Here is an example of what
entrepreneurs can do:

9. Create companies that address the issues above.
Create new training companies to address the cross
training of employees, and train younger
generations in STEAM related skills, such as
Education Unbound’s NuMinds Enrichment.
Create companies that provide services that can
help close talent shortage gaps, by expanding the
field of available talent. Hundreds of companies
already provide technology outsourcing solutions
such as Cognizant, Infosys, CSC, CapGemini or
TechGenies.

10. C) Bankers
Bankers can play a key role in this process. They
have large financial resources, a major influence on
the startup market, and significant leverage on
their existing portfolio companies. Some of the
action bankers can do are:

11. Encourage their portfolio companies to look ahead
in their planning, and implement sound actions that
help relieve some the future shortages and
unemployment risks.
Create investments to fund entrepreneurs, support
educational institutions, and support the non-
profits that address the issues at hand.

12. I cannot think of anyone that will not have a role in
helping solve this issue. Everyone will be impacted,
whether directly, or indirectly. In future blogs, I will
go into more details about the actions that need to
be taken by the different groups. In the meantime, I
welcome feedback and suggestions from anyone.
This is a vast topic, that is quickly evolving. Not one
person can put their arms around it. But together,
we can make a difference.
Stay tuned for Part II to learn what parents,
individuals, government, and educational
institutions can do to help solve this issue.

13. Sources:
https://www.trainingindustry.com/ezine/current-issue/when-skill-
requirements-move-too-fast-talent-development-strategies.aspx
https://www.forbes.com/sites/forbescoachescouncil/2016/08/15/11-
strategies-companies-can-use-to-overcome-the-talent-
shortage/#1dee3f185ca7
https://www.theguardian.com/us-news/2017/jun/26/jobs-future-
automation-robots-skills-creative-health
https://www.inc.com/tony-dibenedetto/where-will-your-next-
generation-of-talent-come-from.html
https://www.coltivar.com/the-shrinking-workforce-and-what-to-
do-about-it/
https://www.thenational.ae/business/five-foolproof-ways-to-
prevent-a-talent-shortage-1.93053
https://www.apqc.org/blog/4-ways-train-away-your-talent-
shortages