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Valuetainment

The Danger of Today’s Job Market

Valuetainment

Valuetainment Episodes

Business

4.81.7K Ratings

🗓️ 8 March 2021

⏱️ 4 minutes

🧾️ Download transcript

Summary

In todays video Patrick Bet-David talks about how a recent study shows that you need to learn 10 new skills every 18 months in order to stay competitive.

Transcript

Click on a timestamp to play from that location

0:00.0

So I recently saw a stat in Harvard Business Review Magazine, I want to share with you,

0:03.5

that's mind-boggling, but before I get into it, I want to ask you a question.

0:07.3

And here's what it is. You ever wonder why recently older employees in the workforce are being

0:15.6

hired by newer younger employees in the workforce? Why is this? Is it, you know, the younger generation

0:22.4

is taking over and it's not fair, they're trying to save money and that's what they're doing?

0:26.1

Maybe. What else could it be? Do you ever wonder why certain people stay in the same position

0:31.2

for too long and they don't get a promotion and they start kind of wondering, well, how come I'm

0:35.2

not getting the next promotion? But I should be getting the next promotion, but I'm not getting

0:38.4

the next promotion. You don't see what I've been doing in the last five, 10 years, but you haven't

0:42.7

been improving a lot. So Harvard Business Review gave an incredible statistic and here's what it

0:48.1

is. Let me read it to you. It says they did a market research on 3,500 managers. That's 2019

0:55.9

survey on 3,500 managers found that only 29% of new hires have all these skills required for

1:02.2

their current roles, let alone for future ones. The research finds that in key functions such as

1:08.4

finance, IT and sales, positions filled today you're ready will require up to 10 new skills to learn

1:17.1

within the next 18 months. Let me read that to you one more time. The search finds that in key

1:22.2

functions such as finance, IT and sales, positions filled today will require up to 10 new skills

1:29.3

in the next 18 months, 10 new skills in the next 18 months. Pat, what do you mean 10 new skills in

1:33.6

the next 18 months? Well, let me ask the question. So this kind of helps you see what they mean.

1:37.9

How valuable is it to know and be an expert in my space right now? Like if you know everything

1:43.9

about my space right now, how useful is it? How useful is it to know how to use AOL chat today?

1:49.6

Like imagine if you were like a killer on AOL chat, you know how to go from the chat from to the

1:53.2

other chat. I'm like 17 and I'm working and how to get traffic and people in. You were great at

...

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