While this fast-paced world comes with a hefty price tag, I want to focus on something other than cybersafety and the social dilemma… future proofing our future.
The demand for skilled professionals in STEM fields (Science, Technology, Engineering, and Mathematics) fields is higher than ever however, a concerning global trend has emerged: lower numbers of tertiary students are enrolling in STEM programs, which could create significant challenges for the future workforce. I want to explore the far-reaching effects of this phenomenon and why you should care about it.
If the Covid-related talent shortage taught us anything, a workforce imbalance, i.e. a surplus of grads in non-STEM fields and a shortage of STEM-related professionals, it creates an employment market where candidates are king. If you tick the boxes required for any job opportunity, it felt like candidates could almost write their own employment offer including work type and salary. Sounds great right? Unfortunately, we’re now seeing people who have now priced themselves out of the market.
Looking even further into the future, a drop in qualified in STEM experts could hinder economic growth and innovation, as well as technological innovation and advancement, potentially leaving industries and economies trailing behind in the global race for competitiveness.
According to local statistics*, Aotearoa New Zealand seems to be bucking the global trend of tertiary students opting for non-STEM disciplines, resulting in a disproportionate distribution of skills in the job market, but how long will we escape the consequences of this worrying STEM trend and what can we do to stop it altogether?
While it's encouraging that the number of people studying STEM subjects at local tertiary institutions is experiencing steady growth, it’s vital that this is maintained to ensure the security of our future workforce. By raising awareness of this potential talent trap, we can work together towards cultivating a diverse and skilled STEM workforce that is essential to continuing to drive innovation, economic growth and global competitiveness.
And that feels like a win/win for everyone.
Ngā mihi nui
*educationcounts.govt.nz/statistics/tertiary-participation: Provider-based enrolments: field of study of the courses studied at tertiary education providers.
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