There’s a lot of debate about future job market demands and which ones are likely to become automated or obsolete. But it’s not just automation that will affect the future of skills and jobs in 2030. Other factors at play include environmental sustainability, globalisation and urbanisation.

The high demand skills for the next 10 years will likely see a dramatic change in the types of jobs we need. Education, healthcare, and wider public sector occupations are likely to grow. And digital skills will be hot property regardless of what type of job you’re in.

While there are no guarantees that predictions about what the jobs market will look like in 2030 will come to fruition, it’s more conclusive what types of skills will be needed.

Yes, being digitally literate is expected to be a prerequisite for almost every job. But it’s the soft skills that will play a pivotal role. These skills will be the most coveted by employers as they look for talent who are able to adapt more quickly and easily as the future of work continues to evolve.

Interpersonal skills, advanced cognitive skills, and systems skills are all likely to be in great demand. Both businesses and employees need to take action to ensure they’ll have the skills that are needed for the Australian jobs in demand in the future. Many existing jobs will evolve, but that doesn’t mean you can’t evolve with them and be skill ready for 2030.

Future job market demands in Australia

Australian jobs are changing as new technologies are introduced, businesses find new ways of working, and as we respond to a changing world brought about by things like climate change and a pandemic.

Around one-fifth of us are in job sectors that will probably shrink by 2030. Although we might not all have a robot as a colleague in the next few years, as automation grows, some of us will.

 

There’s no guarantee how much jobs will change, but there are a few key industries that will likely experience significant growth. They include:

• Healthcare and aged services
• Science and technology
• Education
• Renewable energy

High demand skills for the next 10 years

So what are the skills, abilities and knowledge areas that are most likely to be important in the future?

Digital and technology related skills seem obvious. But they won’t be enough. Critical thinking, problem-solving, resilience, learning, and a whole bunch of interpersonal, leadership, and communication skills will all be essential for the future workforce.

1 . Technology related skills
Workers with digital and technology skills will be in hot demand. According to recent research conducted by RMIT Online and Deloitte Access Economics, 87 percent of jobs now already require digital skills, and that number is expected to grow.

Not having digital literacy will no longer be an option for almost every job. But beyond the basics, the areas of technology set to dominate by 2030 include:

• Cloud computing
• Cyber security
• Artificial intelligence
• Analytics
• Virtual reality
• Robotics

All of these technological areas usually need education and training to acquire the skills. But many believe the real focus will switch toward soft skills to meet future job market demands.

2 . Soft Skills
Often considered as “human” or “interpersonal” skills, soft skills are all about how we interact with other people in the workplace. They are the most in-demand skills because they aren’t specific to a discipline or industry. Instead, they are related to personal attributes and are transferable between jobs.

Some soft skills employers will be looking for in 2030 include:

3. Problem solving and critical thinking
Problem solving and critical thinking abilities are essential in business, especially when under pressure.

Employers value the ability to resolve issues or conflicts as quickly and effectively as possible. Being able to make decisions without personal bias or emotion is also a valuable attribute.

4. Communication
Having the ability to present your thoughts and ideas effectively is often harder than imagined. Being good at it, at a project or strategic level means better outcomes for business. Plus being able to build a rapport with other team members and customers is essential in highly competitive environments.

5. Creativity
Thinking outside the box is how businesses evolve and stay relevant. The more we use technology the more rapidly the way we do things will change. Being able to think about better ways of approaching tasks, and communicating new concepts will be a much-needed skill. But workplaces will need to foster an environment that encourages creative thinking too.

6. Teamwork and relationship building
Even though some jobs may need you to work independently much of the time, the ability to work within a team is essential. Being able to collaborate will be critical. And skills like conflict resolution, being able to motivate others, inclusiveness and collaboration will all be sought after.

7. Leadership
In these days of remote working, the ability to lead a team has its own unique challenges. Strong leadership results in better outcomes for the business. Leadership skills include mentoring, understanding organisational goals, accountability and decisiveness. Demonstrating resilience and persistence during uncertainty gets a big tick too.

Getting the skills you’ll need in 2030

Knowing which skills you should acquire will help you identify where you need to upskill. Investing in your development is important so you have the competencies employers will be looking for in 2030. You need to make sure you have the skills that are in demand.

Being proactive about upskilling now will make you more suitable for employers in the future. Planning for your continued education and training will put you ahead of the pack. That way you’ll be prepared for the shift in jobs over the next ten years.

Upskilling, reeducating, and retraining can be expensive. But there are options to ease the financial impact. Consider an education loan or a tax-effective investment product to help you budget for the cost of education and training. Your continuing education can and should be, a life-long objective for both you and your family.

Financing your life long education journey

In this constantly changing world, education and learning need to be part of our life journey. New challenges arise and we need to be able to adapt and continue to learn if we are to thrive.

Education Bonds are financial products designed specifically for saving and investing to tax-effectively accumulate the money you need for education expenses. They give you the reassurance you need to continue to fund your learning. Regardless of your age.

With the Australian workforce entering one of its largest phases of change, it’s more than likely you’ll need to acquire new skills to remain relevant.

Get in touch with Futurity Investment Group to look at the options available to you to finance education for you and your family