Human Capital Development Through Reinventing, Retooling and Reskilling Strategies

Learning from 20 Multiple Cases

DOI

10.2991/aebmr.k.211207.003How to use a DOI?

Keywords

Human Capital Development; Multiple cases; Reinventing; Reskilling; Retooling; Strategies

Abstract

For mitigating the ravaging effects of the COVID-19 pandemic on the economic interests of employees, employers, and governments, this paper discusses three human capital development strategies of reinventing, re-tooling, and re-skilling (3Rs) as effective ways of stimulating the economy including saving jobs and keeping businesses afloat. There is no better time for employees, employers, and governments to adopt 3Rs than now because of the existential threat posed by the pandemic. The sustainable implementation of 3Rs requires tripartite collaboration from critical stakeholders, particularly governments, employers, and employees. The role of governments in activating 3Rs is to initiate policies to support and accelerate the development of new competencies and skills of the citizens to meet the changing needs of the labour markets and foster their resilience capabilities. The role of employees in activating 3Rs includes creating personal career paths, embracing self-development, and upgrading themselves as indispensable “brands” for business organisations. The role of employers in embracing 3Rs is to conduct skills inventory and business need assessment, invest in human resources to fill skills and knowledge gaps, remove inhibiting obstacles to employee development and update employees’ skills to cope with technological advances. The paper contributes to policy enrichments by sharing transferrable skills and competencies from twenty (20) multiple cases on the applications of 3Rs for saving existing jobs, creating new jobs, and ensuring business continuity in the Post Pandemic Era

Copyright

© 2021 The Authors. Published by Atlantis Press International B.V.

Open Access

This is an open access article under the CC BY-NC license.

Download article (PDF)

TY  - CONF
AU  - Lukman Raimi
PY  - 2021
DA  - 2021/12/07
TI  - Human Capital Development Through Reinventing, Retooling and Reskilling Strategies
BT  - Proceedings of the Conference Towards ASEAN Chairmanship 2023 (T-A-C 23 2021)
PB  - Atlantis Press
SP  - 22
EP  - 29
SN  - 2352-5428
UR  - https://doi.org/10.2991/aebmr.k.211207.003
DO  - 10.2991/aebmr.k.211207.003
ID  - Raimi2021
ER  -