What are your Skills worth?

Having worked in the Skills industry for over two decades this is a really interesting question from an individual's perspective as it's an intangible asset that has true value.

Like a house, you will know the value of this tangible asset and how it appreciates with time, investment and the demand for it. So what are your skills worth in the jobs marketplace, what investment can you make and how is demand changing with AI?

Perhaps it is best to start off with evaluating the three different skills types. The human “soft” skills are those you are born with and are influenced in your environment and education. Often called interpersonal skills, they include communication, teamwork, and problem-solving abilities, facilitating effective interactions with others and so on. Many believe they are fixed by the age of 17 but I am of the opinion that they are constantly evolving within a range.

Then then are the hard skills, skills that you actively acquire to prepare for your career, role or promotion. They tend to be job-specific, quantifiable, teachable skills with practical abilities.

Finally there are transferable skills which are versatile skills that can be applied across various roles and industries.

In the past it was really hard skills and the duration of which you are vested in those skills that lead to the value of compensation you were likely to be offered. Then as the war for talent intensified, the demand for skills increased and so this led to a multiple effect on value. 

Now we enter a new era where AI is really doing a lot of the heavy lifting where previously hard skills were required and so the emphasis is now shifting to human skills and transversal skills and the impact they can have on a company. 

So how important is it to audit your Skills in these changing times?

Well as it happens it is very important. Simply because we are operating in a Skills 1st global economy and so knowing your skills stack across all areas both of those you have acquired and are in demand will show you where the gaps are if any and ensure you are maximising your potential in your current role and the next.

Here are just a few approaches you can take. 

1. Skills Self-Assessment: Start by reflecting on your skills and abilities. What are you good at? What do you enjoy doing? Consider all skill categories

2. Set Skills Goals: Define your short-term and long-term goals. What do you want to achieve personally and professionally? Your skills should align with these goals.

3. Market Research on Skills: Research the job market in your field. What skills are in demand? Which ones are valued by employers or clients? This will help you focus on skills that have real-world value.

4. Seek Skills Feedback: Ask for feedback from mentors, colleagues, or supervisors. They can provide insights into your strengths and areas where you can improve.

5. Continuous Learning: Invest in learning and development. Take courses, attend workshops, and stay updated in your field. Continuous improvement keeps your skills relevant.

6. Skills Passport: Showcase your Skills to the best of your ability and have them authenticated along the way by educational providers and employers

7. Salary Skills Research: If you're in a job market, research salary ranges for positions that require your skills. This can help you negotiate fair compensation. If you can work remote audit internationally. 

8. Anticipate Skills Change: Pay attention to emerging trends and disruptions in your industry. Being proactive in adapting to change can give you a competitive edge.

In summary 

Your skills are one of your most valuable intangible assets so they are really worth tracking, investing in, measuring and setting goals for. Being open to adapting your skill set as industries and technologies evolve is a way to increase their value. Don't forget to value skills you're passionate about. Pursuing what you love can lead to a more fulfilling career. Remember that skill valuation is an ongoing process. Regularly reassess and update your skills to stay relevant in your chosen field and achieve your career and life goals....because you deserve to.

By

Vanessa Wainwright

Founder

abodoo - Solving the Skills Gap

A white labelled, private marketplace to connect people with the right skills and opportunities through the Digital Skills Passport