Does Europe have the skills it needs for a changing economy?

This podcast episode explores the European approach to skills development in the context of labor shortages and skill gaps. The speakers discuss the European Year of skills initiative and the joint European company survey conducted by the European Center for the development of Vocational Training. They highlight the sectors experiencing the highest shortages and emphasize the importance of addressing skill gaps to meet the economic, social, and environmental goals of the European Union. The episode also discusses the impact of climate goals on labor and skill shortages, the importance of adapting workplace practices to leverage employee skills, and the role of managerial education and working conditions in addressing the skills mismatch issue. Overall, the episode emphasizes the need for proactive measures and policies to address labor shortages, improve job quality, and foster a supportive and productive work environment. Main points • The European Year of skills initiative aims to address labor shortages and skill gaps in Europe. • The joint European company survey conducted by the European Center for the development of Vocational Training assesses labor shortages and related factors. • Sectors such as construction, STEM fields, professional and scientific occupations, accommodation and food services, ICT, and health and care professions experience the highest shortages. • Climate goals have an impact on labor and skill shortages, with changes in demand for workers in different sectors. • Adapting workplace practices and leveraging employee skills can lead to increased innovation and better performance. • Managerial education and working conditions play a crucial role in addressing the skills mismatch issue and attracting skilled workers. • Good job quality and a positive work environment contribute to employee well-being and improved productivity. • Incentives and inducements, including good quality jobs, can support better performance. • Targeted approaches and customization are needed to address labor shortages effectively.