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The digital revolution, automation and skills obsolescence have led to a skills gap that puts the employment of many people in Europe at risk. In this context, Iberdrola, together with other companies such as AstraZeneca, Iberdrola, Nestlé, SAP, Sonae, Telefónica and Volvo Group, is co-leading the European Re-skilling 4 Employment programme with the aim of promoting training and the search for structural solutions to solve the problem of unemployment on the continent.

Promoted by the European Roundtable of Industry (ERT), the R4E initiative aims to have one million adults of all ages in Europe retraining and acquiring new professional skills by 2025. The programme will coordinate the efforts of public institutions and private organisations to develop professional qualifications and ensure a new job for 5 million Europeans by 2030. One million of these would be generated in Spain.

This joint commitment will enable the implementation of a set of measures with the potential to expand and improve national ecosystems for the retraining of professional skills and/or develop solutions that can be transferred between countries. The project is aligned with the priorities of the European Recovery Plan and the España Puede Recovery Plan.

The ERT has presented this project in the framework of the Porto Social Summit*, which starts today under the Portuguese Presidency of the European Council. These figures represent 25% of the European workforce** which, over the coming years and as current jobs disappear through automation, will need to be trained in new skills. The COVID-19 pandemic has accelerated these trends, making a joint approach to retraining more urgent and necessary.

Four vectors: technology enablement, network of skilled providers, city-based employment ecosystems and financing models

R4E will enhance human capital development as part of the European economic recovery, promote social inclusion and facilitate the transition to a greener and more digital economy. The project was created to make the initiatives of companies, public bodies, trade unions, business associations and training providers work collaboratively, and its implementation will be tailored to specific country needs and contexts.

The initiative offers support through four critical vectors such as technological enablement for retraining, including a common platform and recommendations driven by artificial intelligence; a network of highly skilled training providers and job-creating companies; the creation of employment ecosystems in cities to facilitate placement; and support in the design of funding models in a way that aligns incentives to training providers, companies and candidates.

Paulo Azevedo, Chair of the ERT’s Employment, Skills and Impact Committee said: “We are pleased to announce the R4E initiative with pilot projects in three countries involving several companies led by ERT members, as well as several partner organisations. The aim is simple: to help people retrain for more sought-after jobs, improving people’s lives, increasing social cohesion and boosting Europe’s competitiveness. Through this new programme, businesses will be able to partner with European and national institutions, public and private bodies to take real action to ensure that Europe has the human capital and skills it needs to make the green and digital transitions”.

Note:

Full list of ERT members

*More information on the Porto Social Summit

**Source: McKinsey Report: The Future of Work in Europe