Some of Australia’s vocational training institutions, especially private colleges and Registered Training Organisations (RTOs) have emailed their students currently stranded overseas to deposit their fees or else their Certificate of Enrollment (CoE) may be cancelled
A report commissioned by Deloitte released this year suggests that over the next decade, Australia will face significant skills shortages. And while the government has a significant role to play, addressing the human skills shortage is everyone’s responsibility. Businesses, and even individuals, have the opportunity to proactively focus on human skills. Doing so could unlock more human capital to power the economy going forward.”
Here are the skills that will get you ready for the future workforce. Photo: Getty
There’s a lot of uncertainty about the extent of artificial intelligence on the jobs of tomorrow. Without bringing out a crystal ball, here are three areas that are already experiencing a significant rise in jobs with seemingly boundless opportunities for growth across multiple industries.
1. Risk management
The revelations from the Hayne Royal Commission into the banking and financial sector reveal Australians have been appallingly let down when it comes to governance.
If nothing else, it reflects the need to upskill to meet more complex compliance demands and hone the ability to identify and respond to key risks in your business.
The new Monash Business School Master of Regulation and Compliance is designed in conjunction with regulation, compliance and business law practitioners, so you’ll graduate expert in regulation and compliance across sectors such as financial services, sustainability and environmental regulation and corporate regulation, as well as the emerging area of artificial intelligence and technology.
But the important thing to remember about this course is that you don’t have to be a lawyer. It’s highly practical, with real-life case studies, but also explores compliance functions from an ethical and practical governance perspective.
2. Project management
Australia’s infrastructure pipeline faces an increasingly critical skills shortage, according to a 2019 audit report from Infrastructure Australia. It expressed concern that the country is failing to achieve best-practice in planning, funding and delivering infrastructure projects.
“Projects are getting larger and increasingly complex, and will require new approaches. How the public sector makes decisions, handles procurement, selects contract models and handles risk will have significant bearing on the functionality and efficiency of our infrastructure,” the report says.
Monash Business School’s Master of Project Management covers areas such as as project and business finance, leadership, managerial problem-solving and decision-making, to infrastructure project and policy evaluation, negotiation strategy and skills, enterprise and IT systems.
It has also been designed as an interdisciplinary course across the Monash faculties of Business, Engineering and IT.
This sort of career move would suit someone upskilling, expanding their skill set or looking for a dynamic new direction.
3. Big data
In its ‘2019 Jobs Rated’ report, the US jobs site CareerCast reported a 30 per cent increase in demand for statisticians or data scientists and this is also an area of rapid demand across Australia with corporate, government and non-profit sectors.
Monash Business School’s new Master of Business Analytics is designed to help you better understand the world around you by analysing and interpreting data. You will also learn statistical thinking, probabilistic modelling and computational techniques and how to express data through web apps and interactive graphics.
If you’re already in data science or working as a statistician (ranked as among the top jobs in the world by CareerCast due to the demand for that skill-set), this course will really deepen your knowledge. It starts with introductions to concepts such as machine learning and data analysis and goes into intensive specialist areas such as high dimensional data analysis and even Bayesian time series econometrics.
This is the sort of career move that would most suit people who have backgrounds in engineering, computer science and mathematics and who are looking to work in government, education and the non-profit sector. Best of all, it is taught by some of the world’s leading econometricians.