future-proofing australia s workforce by growing skills in science, … · 2017-01-31 · a smart...
TRANSCRIPT
A smart m o v e
Future-proofing Australia’s workforce by growing skills in science, technology, engineering
and maths (STEM)
or 5 .1 mJobs at risk from digitaldisruption
Innovation and STEMeducation are key to futuregrowth
$ 57.4bnIncrease in GDPif we shift just 1%of our workforce into STEMroles.
PwC |Asmart move 1
Overview
• Emerging economic challenges
• Disruptive impact of digital technology
• Many jobs at risk
• Need to build an appropriately skilled workforce
or 5 .1 mJobs at riskfrom digitaldisruption
Innovation and STEM education are key tofuture growth
$57.4bnIncrease in GDP if we shift just 1% of ourworkforce into STEM roles.
The need to act
The economic challenges are significant
25 years of economic growth, through
• Economic and financial reforms (1990’s)
• China led surge in demand for commodities (2000’s)
Standard of living will fall
• Rising cost of services (health, infrastructure, social services)
• Declining employment
• Sluggish global growth
• Rising shortfalls in tax revenue.
The need to act
The economic challenges are significant
Digital is disrupting everything
Top threats according to Australian CEO’s
74% availability of key skills including technology skills
67% speed of technological change
7 9 % the impact of changes in core technology
74% cyber risks
Digital is disrupting everything
Machine learning, which allows computers to makeintelligent decisions by processing massive amounts ofdata, will be a source of major productivity gains.
3D printing stands to potentially disrupt traditional supplychains by lowering the cost of ‘where’ and ‘how’manufacturing is done.
Crowdsourcing, enabled by online social networks, iscreating a new human resource model by allowingcompanies to engage with a globally distributed workforce to complete tasks on demand and at scale.
97.5 % Accountants and bookkeepers
96.9 % Checkout operators
9 6 .1 % General office support eg data entry, mail
92.4 % Personal assistants and secretaries
92.5 % Farm and forestry workers
Jobs are at risk
A workforce for the future
4.0 % School teachers
Jobs unlikely to be automated in the next 20 years
< 1 % Doctors, nurses and midwives
< 1 % Education, health and welfare managers
3.5 % ICT managers
4.0 % Engineers
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The critical role of STEM
A STEM education • underpins innovation• plays a critical role in economic and business growth
Businesses competing in a global economy driven by data, digitaltechnologies and innovation will need more STEM- trained employees.
75 per cent of the fastest growing occupations now require STEM skills.
70 per cent of Australian employers identify STEM employees as beingamong the most innovative.
The critical role of STEM
Survival skills in the workplace of the future
• Critical thinking and problem solving
• Analytic capabilities
• Curiosity
• Imagination
The critical role of STEM
Leading businesses get it
• CISCO investing $31m to increase talent with STEM skills in Australia
• BHP Billiton investing $28.8m into CSIRO education program to increase interest and achievement amongst Indigenous students, and $22m to encourage girls to study maths
• Microsoft offering technical workshops to support first flagship store outside USA, and further support to STEM education
• IBM bringing its P-TECH education program to Australia
The critical role of STEM
Leading countries get it
• Sweden
• Each year several thousand teachers attend national STEM-focused training centres
• USA
• Educate to Innovate education program and government support to private-sector commitment to inspire students
• Germany
• Ranks 3rd in OECD for STEM graduates, and outperforms USA in patents per 1000 researchers
Developing the right infrastructure and teaching capabilities allows thesecountries to grow a workforce of the future with core skills andcompetencies for driving innovation.
Source: Department of Education (C’th), PwC analysis.
*STEM qualifications includes degree completions in natural and physical sciences (including mathematics), information technology, engineers and related technologies, architecture and building, and agriculture,
environmental and related studies.
We could be doing much better
PwC |Asmart move 13
Year 12 participation in STEM subjects is declining
• 11% intermediate mathematics
• 10% biology
• 5% chemistry
• 7% physics.
Enrolments /completions in university STEM courses haveremained flat
Compare to Singapore
• 52 per cent of university graduates were from a STEM-related course.
• In Australia the proportion was just 16 per cent.
Number of students completing degrees in STEM*
We could be doing much better
PwC |Asmart move 14
Thebenefitsof growing STEM
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Growing STEM would help businesses meet workforceneeds, better equip workers with vital skills for thefuture and drive innovation and productivity.
It would also deliver economic growth and higherwages for STEM workers.
Thebenefitsof growing STEM
If Australia targets a similar growth to Germany• 126,000 Australian workers• 1% of current workforce
need to move to STEM occupations by 2035
We would need to train an additional
• 20,500 new engineers
• 17,500 business and system analysts and programmers
• 13,500 construction, distribution and production managers
• 12,000 natural and physical scientists
• 9,500 architects, designers, planners and surveyors and
• 53,000 workers in other STEM fields.
Top 10 jobs that need to grow to achieve STEM target by 2035
A framework for action
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No single group can solve the problem on its own.
Business, government and educators need to plan and worktogether to create the STEM workforce Australia needs.
A framework for action
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Business must play a leading role
1. Build an innovation ecosystem by providing venture capital andR&D
2. Improve student / business / education leader connection
• engage, influence, connect
3. Apply expertise in growth and expansion to provide scale
4. Provide thought leadership and advocacy – data and insights
5. Provide innovation to education
A framework for action
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PwC has released the report “Making STEM a Primary Priority”
• Includes recommendations and practical strategies for Government / universities / schools around
• Providing access to a specialist STEM teacher for every Australian primary school
• Improving the standard of professional development in primary science and mathematics for all teachers
• Better use of data for targeted teaching and enhanced learning
• Increasing the quality and quantity of STEM instruction in Australian primary schools
Australia is competing globally.
An innovative approach to building STEM skills is required for continued growth and prosperity.
We must all provide leadership and vision.
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