Develop human capital in digital green economy transition
‘A successful transition to a digital and green economy requires a training system that quickly adjusts to the evolving skills needs of the labor market.’
Daily Tribune‘A successful transition to a digital and green economy requires a training system that quickly adjusts to the evolving skills needs of the labor market.’
The government, private firms, academe and training institutions must create and strengthen the protection and promotion of human capital development in transitioning to a digital and green economy.
This is a measure proposed by a paper released by the Philippine Institute for Development Studies, which was written by senior research fellows Francis Mark Quimba, Ramonette Serafica and Connie Bayudan-Dacuycuy, supervising research specialist Neil Irwin Moreno, and research analyst Abigail Andrada.
In the PIDS Economic Policy Monitor, the authors said the government needs to prepare the workforce for disruptions through strategic investments in human capital, infrastructures, and research and development.
As a facilitator and driver of the dual transition, it needs to identify strategic sectors where the country sees itself harnessing or developing its comparative advantage, and leverage the fiscal incentives in the Green Jobs Act to support their development.
The authors said a skilled workforce to match the job creation is important.
Skills and training
development programs
"People who can assess, audit, and certify compliance are also needed to provide incentives. Thus, skills and training development programs that focus on strategic sectors are crucial. These can serve as building blocks for the skills development of non key strategic sectors," they said.
The paper said support and incentives should not be limited to firms that create jobs but should also include those that integrate green processes into their businesses.
It also underscored the importance of exploring the establishment of a labor market information system that integrates existing information systems and planned skills initiatives.
Further, the paper said companies have stakes in ensuring their workers have the correct skills.
"To reskill/retool their existing workforce, firms can explore TESDA's (Technical Education and Skills Development Authority) enterprise-based training programs. Firms can explore putting up necessary measures to recover their investments. Tap the EBT programs to obtain skilled workers," it said.
To enhance mobility, workers must be proactive in obtaining digital credentials such as certificates for short-term courses and nanomasters, it added.
Key role
The authors said the academe and training institutions also play a key role in strengthening the protection and promotion of human capital development.
"A successful transition to a digital and green economy requires a training system that quickly adjusts to the evolving skills needs of the labor market," they said.
The paper said there is a need to improve the agility of higher education institutions in responding to the labor market and industry needs, leverage labor market information systems in developing programs/courses, strengthen the technical and vocational education and training workforce, and strengthen partnerships of TVET institutions with firms and the industry.
"Commit resources to get the best practitioners abroad to train the trainers in the country. Send scholars abroad to learn about new technologies and best practices to transform the identified sectors. The shortage of competent practitioners who can help develop training regulations and curricula can stall any well-planned digital and green agenda," it said.
The issue of the Economic Policy Monitor examines the interaction of green transformation and digitalization, which are key drivers for sustainable.
