I felt distressed while reading this article: More Downsizing at Beleaguered ETS. ETS has struggled to maintain its foothold in the shrinking assessment space. Amit Sevak, CEO of ETS, stressed the need to be nimble and to adapt to rapidly changing market demands for educational assessments. In April, ETS released a report titled “Charting the Future of Assessment.” The report declares that skills assessment, certifications, and credentials are the new frontier, and the biggest untapped consumer pool for assessment companies is adults interested in lifelong learning and continuous career development. Is it a good example of adaptability? While ETS recognizes the need for adaptation, staying within the same educational assessment industry may not fully exemplify adaptability. Amit Sevak’s statement confirms it: “The way we’re structured is inhibiting us from swiftly pivoting to mitigate external threats such as AI, geopolitics, future customer needs, and the disruptive, competitive context [of testing].” It’s a classic example of how a company's reluctance to adapt to disruptive innovations can lead to its downfall. Here are some remarkable examples of companies that successfully reinvented themselves by adapting their product lines and business strategies: · Originally an online bookstore, Amazon expanded into e-commerce, cloud computing (Amazon Web Services), and even physical stores. Its net worth now exceeds $460 billion. · IBM shifted from punch card machines to mainframes, PCs, and services. Its reinvention allowed it to thrive in the tech industry. ETS has accumulated a unique database detailing how difficult it is to increase learners' fluency by 500%. Beginners have a fluency of about 30 words per minute. To pass standardized English tests, learners must demonstrate a fluency of 150 words per minute. Instead of developing new methods to ensure learners develop the required fluency quickly, ETS is charting the future of soft skills assessments. Creating such assessments would be extremely controversial since they are personal attributes difficult to measure and entirely amorphous. They are a vain attempt to domesticate what is untamable. History has shown us great examples of how to open the gates to creativity and new discoveries. In their IPO letter, founders Sergey Brin and Larry Page wrote: “We encourage our employees, in addition to their regular projects, to spend 20% of their time working on what they think will most benefit Google.” This unregulated time led to innovations like Gmail, Google Maps, and AdSense. ETS’s future hinges on its ability to break free from existing boundaries and embrace disruptive innovation. Adaptability is not merely staying within the same industry—it’s about daring to explore new frontiers and reinvent oneself. ETS faces a critical juncture, and its choices will shape its destiny.
Arkady Zilberman, Ph. D’s Post
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93 days. . . . Only a few more months to go before we move to 2025…. Good to use these remaining days to upskill and prep for the upcoming year. The Financial Advisory landscape has definitely evolved so much… Means that staying the same is not a norm, and we should embrace change and upskill ourselves before we become obsolete. Cannot afford to be stagnant already. Change and growth are not just ‘good to have’; they are our survival tools. We can do this through many things like… 𝗧𝗲𝗰𝗵 𝗦𝗮𝘃𝘃𝗶𝗻𝗲𝘀𝘀….Clients expect real-time updates, easy access to financial data, and seamless communication. In this age, we need to be more fluent in using tech tools that can improve client experience. 𝗨𝗽𝘀𝗸𝗶𝗹𝗹𝗶𝗻𝗴….Whether it’s a new area to master or a better way to communicate with clients, learning new skills keeps us relevant. Can see what online courses, workshops, or even peer discussions you can join to level up. 𝗡𝗲𝘄 𝗥𝗲𝗴𝘂𝗹𝗮𝘁𝗶𝗼𝗻𝘀….The financial world keeps evolving with new laws and standards. Keeping updated helps us stay compliant and enhances client trust. Bottomline is that embracing change isn’t about discarding old practices…. It can be about blending them with new methods to create a stronger foundation for your practice. Let’s continue to adapt, learn, and grow! P.S. What skills are you aiming to learn this 2025? #financialadvisory #skills #learning #growth
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Are you facing challenges in filling open positions or in providing training that is accessible to all employees? Consider the benefits of microcredentials. These offer precise training opportunities designed to address specific skills gaps within your team. With support from ReadSpeaker, every employee can engage with and benefit from training, tailored to diverse learning styles. Enhance your team's capabilities and foster an inclusive workplace environment. https://okt.to/x7KtI4 #FutureOfWork #WorkforceTraining #EmployeeEngagement
Affordability and Microcredentials
the-job.beehiiv.com
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Optionality: A Double-Edged Sword Every time I visit a grocery store, I am surprised by the volume of options. Once a simple task of picking up bread, milk, has transformed into making us a victim of optionality. Why is optionality important? In any product business or technology, what used to traditionally be a relatively straightforward process: define requirements, evaluate features, compare costs, and choose the best fit. Today, the rapid pace of change has introduced a new dimension to this equation: optionality. What is Optionality? Optionality refers to a product's ability to accommodate future changes and adaptations. It's about selecting a solution that not only meets current needs but also provides flexibility to evolve with changing business requirements thus leaving more options. But does it always work? People are persistent in clinging to options, regardless of their actual value. This can lead to significant inefficiencies and missed opportunities. We tend to overvalue the potential benefits of maintaining multiple options, even when the costs outweigh the rewards. Companies may invest heavily in projects or divisions that are underperforming, fearing the consequences of closing them down. Or, they might diversify into unrelated areas to hedge their bets, not focusing on their core competencies. How is this affecting us as people? The paradox of choice, a term we learned in psych class says that many options can lead to decision paralysis, decreased satisfaction, and increased regret. With all this knowledge at our fingertips, we're constantly exposed to new ideas, products, and experiences. Our curiosity, which I was told was a valuable asset as a kid, today quickly becomes a liability as we keep chasing for something better. The fear of missing out drives us to explore every possibility, leaving us unable to commit to anything. When I think about my own personal development, I've read countless self-help books, online courses, and internships all of which promise transformation. These can be overwhelming, leading to a state of perpetual learning without application. We are becoming collectors of knowledge rather than creators of results. We plan but fear execution. In a world obsessed with endless possibilities, we've forgotten the power of focus. My parents always keep talking about our generation as individuals lacking depth, and looking for a sense of purpose. Now when I think of it it’s true. We've traded commitment for comfort, passion for practicality, and dreams for distractions. As someone who’s been confused when it comes to careers and life, who has wanted to explore and try every opportunity that no doubt taught me a lot. I think eventually you reach a point where it’s important to choose one thing – a career, a relationship, a project – and give it everything and it may not workout but it’s still better than trying everything and not mastering a single thing. #psychology #economics #career
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And the problem is not going to be solved by letting AI try and fix it for you! So have a quick look at our latest blog. This is based on our experience as a business recruiting and running graduate development programmes, and working closely with Higher Education on employability before they even enter the workforce!
The problem with the youth today....our latest blog
https://exemplialearning.co.uk
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The Importance of Continuing Professional Development (CPD) in the UK Financial Sector In the fast-paced and ever-evolving financial sector of the United Kingdom, staying ahead of the curve is not just an advantage; it is a necessity. This is where Continuing Professional Development (CPD) comes into play. CPD is the proactive and ongoing process of learning and development to maintain and enhance professional skills and knowledge. In this article, we will explore the importance of CPD in the financial sector and how it significantly enhances employability. -Staying Updated in a Dynamic Environment The financial industry is subject to rapid changes driven by technological advancements, regulatory updates, and market dynamics. CPD ensures that professionals remain well-informed about the latest trends, tools, and best practices. By continuously updating their knowledge, financial professionals can provide the most relevant and accurate advice to clients, adhere to regulatory requirements, and leverage new technologies to optimise operations. -Enhancing Professional Competence CPD helps financial professionals deepen their expertise and acquire new skills. For example, understanding the latest financial instruments, mastering sophisticated analytical tools, or staying abreast of changes in tax laws and financial regulations can significantly enhance one's competence. This not only improves job performance but also opens up opportunities for career advancement. -Demonstrating Commitment and Adaptability Employers in the financial sector highly value commitment to professional growth. Engaging in CPD activities demonstrates a proactive approach to personal and professional development. It signals to potential employers that a candidate is dedicated, adaptable, and willing to invest time and effort into staying relevant in their field. This is particularly crucial in a sector where adaptability and forward-thinking are key to success. -Meeting Regulatory Requirements In the UK, many financial roles require adherence to stringent regulatory standards. CPD is often mandated by professional bodies such as the Chartered Institute for Securities & Investment (CISI) or the Association of Chartered Certified Accountants (ACCA). Keeping up with CPD requirements ensures compliance with these standards, thereby safeguarding one's professional standing and credibility. -Enhancing Employability One of the most tangible benefits of CPD is its impact on employability. In a competitive job market, having a robust CPD record can distinguish you from other candidates. It provides concrete evidence of your skills, knowledge, and dedication to the profession. Employers are more likely to hire candidates who demonstrate a continuous commitment to their professional development, as it indicates a higher likelihood of sustained performance and growth within the company.
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One Year Update - UK Government Digital & Data Roadmap🚀 Megan Lee-Devlin recently shared the progress/key achievements from year one (link to post in the comments) with updates posted every 6 months for the public to see the progress - https://lnkd.in/esfGBBZi But what does success look like so for the UK Government???👀 - AI adapability/productivity boots within Government and focusing on Generative AI🤖 - Tech talent pipelines, 2,500 new technologists through apprenticeships and early career schemes📈 - New funding process, ensuring service transformation is only considered if the approach fits with the new digital age💰 Anyone else excited by the new digital future for the UK Government?🛠 #ukgovernment #publicsector #digitaltransformation #digitalfuture
Transforming for a Digital Future - one year update
https://cddo.blog.gov.uk
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Partnerships to offer microcredentials are on the rise. It's important that issuing organizations understand how to create credentials of value. This article provides a great summary of a panel discussion at the 2024 Digital Credentials Summit where panelists discussed the importance of creating credentials that provide value to both employers and learners.
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https://www.ecampusnews.com
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build-up.ec.europa.eu
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🌟 Seeking Your Insights: Key Skills for Future Success 🌟 I think we all agree, staying ahead in our careers requires continuous learning and adaptability. I'm curious to know: What do you believe are the most critical skills for future success in your field? For me in accountancy, it’s a given that you need to keep up with legislation, but staying updated with industry trends and being aware of the latest apps have been game changers. Please share your thoughts and experiences in the comments. What skills have you found most valuable, and what are you focusing on learning next? ☀️🎆 #FutureSkills #CareerDevelopment #ContinuousLearning #ProfessionalGrowth #IndustryTrends --- Feel free to adjust the specifics to fit your industry and personal focus!
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Time is your most precious investment and the currency that shapes success. Just as financial budgets allocate resources, budgeting time allots dedicated periods for learning. https://lnkd.in/gYJ_QXyD #EmployeeExperience #PerformanceEvaluation #EmployeeProductivity #EmployeeEngagement
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icehrm.com
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Author of international best-seller, keynote speaker, trainer, coach
5moI am not surprised that this is happening with ETS! Test-taking is only sometimes an appropriate way to assess whether authentic learning has taken place. Determining whether students can apply and integrate what they have learned to real-life situations has more accountability and relevance. So how can we do this? What is the best way to assess learning a second language? Wouldn't it make sense to assess how fluent students are in that new language? This could be done in three ways: 1) Begin with self-assessment. 2) Follow up with peer assessment, and finally, 3) Coach/Teacher assessment with pre and post-video demonstrations could indicate the degree of improvement.