Overcoming The Loss Of Learning: A Session At The World Economic Forum 2023

This has been a period in the world where learners have made a lot of strides backwards due to the pandemic, the economic crisis, and disinvestment in global education systems. More than 65% of countries have cut education budgets in the wake of competing priorities from the health, economic, and energy crises, undermining prospects for growth and dimming the chances of reaching the Sustainable Development Goal for education by 2030. From new funding models to reimagining physical learning spaces, what bold and innovative steps can business and government take to turn the education crisis into an opportunity?

Panelists discussing the topic: Catherine Russell, the executive director of the United Nations Children's Fund, UNICEF; Dr. Mohamed Ahmade, CEO of Aminat Holdings Dubai; Dr. Ashish Advani, president and CEO of Junior Achievement Worldwide; Jeff Tarr, CEO of Skillsoft; and Rachel Romer, CEO and co-founder of Guild Education.

By age 10, only half of children around the world have developed foundational reading skills

Azim Premji University

According to the latest estimates by UNICEF and the Education Commission, nearly three-quarters of young people aged 15 to 24 in 92 countries are off track to acquire the skills they need for employment. According to the OECD, it is likely that less than half of 15-year-olds have spoken to a career counsellor in school, visited a job fair, or performed an internship. 75% of young people say their schools would help them find work more effectively.

Learning loss is the failure of education systems to actually teach children in the classroom and to keep them there

It can vary depending on the context. It can be an inadequate or poor curriculum, crowded classrooms, a lack of testing that ensures each child is actually being taught at their level, and poor support for teachers. Pre-COVID, 50% of 10-year-olds couldn't read a simple sentence, which is closer to 70% post-COVID. Two-thirds of 10-year-olds globally are unable to read and understand a simple story. Sub-Saharan Africa is the region most affected, with about 89% of 10-year-olds, followed by Latin America and the Caribbean at 79% and South Asia at 78%. In many ways, learning has slipped in national assessments, not only for basic but even more advanced learning.

World Bank

The intersection of workplaces, employee benefits, and education is beneficial for all stakeholders

Employers innately understand the connection between learning skills and the output, or productivity, of the business, as well as employee engagement and satisfaction. There are four key value drivers that are pulling employers into the business of education. One is recruitment; companies that are engaging in offering education and skilling to their frontline workforces or their whole workforce are seeing a dramatic improvement. Second is healthcare, where 50% to 60% of employees will apply for the job if the company advertises the education and skilling or career mobility services that come from GILD. Third is retention; companies find that a learner in their building retains at nearly twice the rate of an employee who isn't engaged in learning and skilling. Fourth is career mobility, where employees want to move up within the organization or move onward in a way that advances. These are the key reasons, from a pure ROI perspective, that employers are really engaging in education and skilling.