DEVELOP AND PROMOTE UNDERSTANDING OF

GLOBAL LABOR MARKETS

Identify current and future trends/concerns
Introduction:

The only constant in our world is change. We are facing a change that is becoming faster
and faster in many areas, for example through digitization. Change brings risks and
opportunities. A change can mean a risk for a company if the market changes and there is
no longer a need for its products. But change also brings many opportunities and
possibilities for new innovations. Read here how to identify relevant trends.

If a company plays a proactive role, it can help shape the future, bring products to market
that meet the latest demands and are not surprised by destructive changes.

This is the task of trend research and innovation management. Today, potential for the
future is to be recognized and solutions are to be developed that will be needed tomorrow.
The future is being shaped instead of the future doing the shaping. But this requires good,
well-founded information on possible trends, future developments and their effects.
Identify current and future trends/concerns
Definition of trend

A trend is an assumed development in the future that will have a long-term and lasting
effect on and change something. Current developments are moving in a different direction
or intensifying even more.

Nutritional trends are an example. In the upswing in the 1960s, fatty food was part of the
quality of life. Today, the trends are moving towards healthy eating and vegan nutrition.

Trends in an industry usually have far-reaching effects. Nutritional trends, for example, are
causing changes in the retail, catering, tourism, leisure and agricultural sectors.
Identify current and future trends/concerns
Trend management
Since trends are very multidimensional, a high degree of attention is paid to them.
Multidimensional means that many trends that one does not see in one's own industry at
first glance are nevertheless often relevant due to chain and interaction effects. The second
reason is that a trend in one's own industry can have very different effects.

On the basis of these facts, great attention must be paid to dealing with trends. The
management of trends includes:

· Identification of trends- "Which trends are there or will there be in the future? And which
of these are relevant to us?"
· Analysis of the effects and possible projections and scenarios - "In which directions can a
trend develop? What impact can a trend have in general?"
· Analysis of the implications for our industry or company and derivation of search and
innovation fields - "What does the trend mean for our company?
Identify current and future trends/concerns
Trend research and identification of relevant trends
You can't travel to the future to know how it will turn out. You can't read in any book what
the world looks like in 15 years. You can only guess the future. A solid foundation of
expertise and facts is important. The best source for the predictions and characteristics of
trends is therefore to bring together as many expert opinions as possible.

In order to obtain a good foundation from future information, with which you can continue
to work in innovation management, a systematic approach, process and methodology is
required.
Identify current and future trends/concerns
Systematics for identifying trends

Systematics in trend research is not a high science. This involves many and intensive
analyses of:
1. Megatrends: There are many public publications about megatrends. Megatrends are
long-term developments over several decades that have a formative effect on all areas of
society and the economy worldwide.
2. Setting: Changes in the business environment also have an indirect and immediate
impact on one's own organization. The analysis of the environment includes customers,
users, customers, customers' customers, suppliers, administration, neighboring companies
and industries (e. g. upstream and downstream) etc.
Identify current and future trends/concerns
Important questions to be asked and answered in trend research are the following:

· What impact do megatrends have on our company, our business and our industry?
· What impact do megatrends have on our environment (e. g. customers, legislators)?
· What major changes will there be?
· What does this mean for our company, business and industry?
· What are the trends in our industry?

Methodology for identifying trends

The basis for identifying trends are the right questions as shown above. Answering them is
nothing less than a creative process that requires a lot of knowledge, experience, analytical
and creative thinking.
Identify current and future trends/concerns
Methods that provide information on trends and their effects are divided into primary
and secondary research.

The primary research is first-hand research into trends, using the following methods:
· Interviews with customers, LEAD Users, users, employees and suppliers
· Expert interviews (science and business)
· Workshops with experts and stakeholders, offering creativity techniques, among other
things

· Delphi studies

The secondary search uses available information. There are a large number of trend reports
for the most diverse industries, which can be used as a source and basis for trend
determination. In the course of primary research, it is also advisable to first determine the
available trends by means of a secondary research. This can also provide the basis for first-
hand trend-setting.
Identify current and future trends/concerns
Process for processing trends

Answering the questions mentioned above will result in trends, significant changes in the
future and also fields of innovation. In order to obtain structured results, a systematic
process must be applied:
· Collection of information
· Derivation of trends
· Thematic clustering of trends
· Assessment of trends: Relevance for our company, scope of impact, time (short-to-
medium-term)
· Prioritizing trends
· Preparation of trends for further processing in the innovation and strategy process
The findings from trend research are important information for current and future business
decisions.
Identify current and future trends/concerns

Fit for the future through trend research

The knowledge of trends and possible future developments flows into strategic innovation
management, where future search fields are derived, which in turn can be found in the
roadmap.

But it is not only the innovation strategy that is built on this; the future information is also
relevant for the development of the corporate strategy itself.

And last but not least, trend information is important for all corporate decisions, not only
for innovation. Because all decisions always have to do with the future. It is therefore also
important to spread this information very widely throughout the company and to initiate a
discussion about it. In this way, the employees deal with the trends, which initiates a
creative process that delivers ideas suitable for the future.
Assess new developments

Introduction:

Many countries are experiencing a persistent gap between the skills needed in the labour
market and those offered by the workforce. Skills anticipation is a strategic and systematic
process through which labour market actors identify and prepare to meet future skills
needs, thus helping to avoid potential gaps between skills demand and supply. A skills
anticipation strategy enables training providers, young people, policy-makers, employers
and workers to make better educational and training choices, and through institutional
mechanisms and information resources leads to improved use of skills and human capital
development.
Assess new developments

Guidelines on Rapid Assessment of reskilling and upskilling needs in response to the

COVID-19 crisis

Skills development has an important role to play in the immediate effort to lessen the
impact of COVID-19 while the pandemic is active, in building the resilience of workers and
firms, and in preparing for recovery. Time is of the essence in this response, to help speed
recovery from recession, to get people back to work safely, to limit the career scarring
effects of prolonged unemployment and skills mismatch, and to take advantage of
opportunities that may otherwise dissipate over time. These Rapid Assessment guidelines
aim to inform timely and practical action within the constraints of public health and
workplace OSH policies. The guidelines focus on three broad types of impact on the labour
market, and hence on demand for skills and opportunities for workers, with implications for
reskilling and upskilling needs.
Assess new developments

Guidance Note: Anticipating and matching skills and jobs

Many countries are experiencing a persistent gap between the skills needed in the labour
market and those offered by the workforce. Skills anticipation is a strategic and systematic
process through which labour market actors identify and prepare to meet future skills
needs, thus helping to avoid potential gaps between skills demand and supply. Skills
anticipation enables training providers, young people, policy-makers, employers and
workers to make better educational and training choices, and through institutional
mechanisms and information resources leads to improved use of skills and human capital
development. This guidance note explains the key components of skills anticipation
systems, including data, methodologies, tools and institutions
Assess new developments

Skills for social inclusions

Improving the labour market prospects and quality of work for those disadvantaged in the
labour market is a key focus of the ILO’s research and capacity building agenda. Concerted
and focused efforts are needed to improve outreach, quality and relevance of education
and training, and improve the links to the world of work. Given the heterogeneity of
disadvantaged groups, such as women, youth, persons with disabilities, workers in rural
areas or in the informal economy, migrants or refugees, education and training systems and
programmes need to:
· overcome the range of existing barriers through carefully designed policy intervention;
· respond flexibly to different needs, and;
· address questions of status and challenge social perceptions.
Assess new developments

Moreover, targeted initiatives to address challenges faced by particular groups should

complement efforts to build inclusive TVET systems. Active labour market programmes
(ALMPs) that offer a package of support services including remedial education, core skills,
vocational and job readiness training, work experience, awareness of labour rights and
occupational safety and health, job-search assistance, career guidance and counselling are
more likely to enhance employability and facilitate transitions to decent work.
Utilize labor market information to best effect

Introduction:
While labour market information is extremely useful, the numbers and stats can sometimes
seem overwhelming. Read on to gain insight into how to navigate the information to make
it work for you.
The right labour market information will help you make the best decision, if you are:

l looking for a job

l planning your career or considering a career change
l interested in hiring new workers
Utilize labor market information to best effect
What Is Labor Market Information?
Data about labor supply and demand, earnings, employment and unemployment statistics,
job outlook, and demographics of the labor force make up what is known as labor market
information. In the United States, the Bureau of Labor Statistics (BLS) of the Department of
Labor, collects and analyzes statistical data about the labor market in this country. This
independent statistical agency then disseminates it to Congress, other federal agencies,
state and local governments, and the public. Many countries throughout the world have
agencies similar to the U.S. Bureau of Labor Statistics.
If you are in the exploration phase of the career planning process, labor market information
is invaluable. Use it to find answers to many questions, including:
· Which industries employ people in this occupation?
· Where, geographically, will I be able to find a job?
· Will there be opportunities in the field I am considering after I complete the required
training or education?
· How much will I earn?
Utilize labor market information to best effect
Employment, Earnings, and Industries
How many people work in the occupation in which you are interested? Is it a reasonably
large career field or a pretty small one? You can use the BLS's National Occupational
Employment and Wage Estimates to find this information for approximately 800
occupations. This resource also shows what industries employ people in this occupation.
Find earnings here too.
Navigate to the National Occupational Employment and Wage Estimates page, select the
major occupational group that contains the one in which you are interested, and then
choose the specific occupation. For example, if you want to see information about
computer programmers, select "Computer and Mathematical Occupations" and then
"Computer Programmers."
Utilize labor market information to best effect
Location, Location, Location

Are you are willing to relocate for your career or will you limit your job search to a particular
city? Find out where to find the best employment opportunities for an occupation.
The aforementioned National Occupational Employment and Wage Estimates includes data
on which states and which metropolitan and non-metropolitan areas have the highest
levels of employment for an occupation. Select the career you want to research by
following the instructions above. Find tables that contain this information, as well as ones
that tell you which states, metro areas, and non-metro areas have the highest wages.
Utilize labor market information to best effect
What Does the Future Hold in Store?

The BLS predicts how the labor market will change between a base year and a target year
that is 10 years away. This data, called the outlook, is very informative as you plan your
career. You will want to know your chances of finding a job after you complete ​educational
requirements. After all, do you want to spend the time and money to prepare for an
occupation if job opportunities are going to be scarce? Keep in mind the BLS does not
account for recessions or other economic anomalies. The agency generally publishes
employment projections every other year.
Utilize labor market information to best effect
One way to access the BLS's employment projections is through the Selected Occupations
Data tool. This database offers the option of searching by occupation or by education or
training category. The output will include the following:
· Total Employment in Base Year and Target Year
· Employment Change Between Base Year and Target Year (as a number and a percentage)
· Percentage of Workers in This Occupation Who Are Self-Employed
· Job Openings in Target Year Due to Growth and Replacement Needs
· Median Annual Wages
· Most Significant Source of Post-Secondary Education or Training