Labor Market Analysis Based on the Knowledge, Skills, Abilities and Working Activities of Employees in the Present and Future Production Structure of 2027

Abstract

The purpose of this chapter is to analyze the knowledge requirements for production transformation in the aftermath of the 2010–2020 Greek economic crisis. The topic that the chapter is called to analyze is the following: The production structure of the Greek economy as reflected in 2018 in the sectors of the economy based on their employment has an equivalent in the professions that exist. Based on this analysis of professions, it is possible to identify the knowledge requirements that the Greek economy had in 2018 based on the structure of employment. This structure has the characteristics of the period after the crisis of 2011–2015 which was particularly strong for the country. Then, based on the available methodology and projecting the corresponding picture of employment and occupations for 2027, a new map of knowledge requirements for the new production structure can be identified, which is estimated to emerge in the year 2027. Thus, the differences in the two production structures can be identified, and any gaps that may arise can be predicted. The results of this analysis are of particular value for the design of formal, non-formal and informal education policy in order to facilitate the operation of the production model, to serve and possibly influence the restructuring of the production model.

Annex

A. The Data of Ο*Net

Each profession is composed of 4 components based on the platform Dictionary of Occupational Titles (DOT) and O’NET on Line. The DOT and O’NET online databases developed by the United States Department of Labor. These databases were developed by labor market analysts who mapped thousands of workplaces to record the different types of work and what they include. Access to DOT is via the link https://occupationalinfo.org/. The four components are analyzed as follows:

Work Activities::

is a systematic and deliberate action that requires different and complementary skills. A work activity involves different people working together in an organized way, in a common idea or project, to turn them into a specific result.

Knowledge::

is an organized portfolio consisting of principles and truths, commonly accepted data that apply to various areas of life. According to Cedefop (2008), knowledge is the result of the assimilation of information acquired through learning.

Skills::

defines the ability of an individual to apply knowledge and know-how in such a way as to be able to complete his tasks and solve problems (Cedefop, 2008). According to O*NET, the term skill also refers to those skills developed that facilitate learning and the faster acquisition of knowledge.

Abilities::

refers to what we are capable of and can do when we make the maximum effort. For example, we may be able to solve mathematical equations, write perfect texts, disassemble a machine or persuade others to form an idea of something specific.

Each analytical profession has a unique six-digit code which follows the coding given by DOT (Dictionary of Occupational Titles) and O*NET Online (Occupational Information Network) in the occupations included and described by these databases (e.g., 4224—Hotel Receptionists -> 238,367,038—Hotel front desk clerk).

The Dictionary of Occupational Titles was developed by the United States Department of Labor and has helped employers, government officials, and HR professionals identify more than 13,000 different jobs. It was created by Job Analysts who visited and observed thousands of work environments in order to record the different types of work and the elements involved in their execution. DOT gradually evolved into the state-of-the-art online information platform: Occupational Information Network—O*NET developed by the United States Department of Labor, Employment and Training (USDOL/ETA) and first launched in 1998. The O*NET online platform is the most important source of information on employment and occupation in the United States and provides the most up-to-date data on understanding the changing nature of work and its impact on the workforce.

For a list of Working Activities—Knowledge—Skills—Abilities based on DOT and O’NET see O’NET Database.

B. Ranking by Importance Index (RBI)

An indicator that characterizes every knowledge, skill, ability, work activity and marks the degree of importance that each such element has in the execution of an Analytical Occupation. All Analytical Occupations contain a range of Work Activities, Knowledge, Skills and Abilities. These elements are found mostly in all occupations while what differs is the RBI (Ranking by Importance) index. The RBI index takes values from 1 to 100.

The most critical work activities, knowledge, skills and abilities from those that compose an Analytical Occupation are at the top with the RBI index approaching 100. The RBI that approaches the value of 1 marks the work activities, knowledge, skills and abilities of the Analytical Occupation that is of lesser importance for the performance of the occupation. These are the components of the Analytical Occupation (WA, A, S, K) that are not considered prerequisites for the performance of the occupation or are found less frequently in its practice.

Therefore, each Analytical Occupation corresponds to a unique outline of Work Activities, Knowledge, Abilities and Skills as the RBI for each component of the Analytical Occupation differs depending on the importance it has for the execution of each Analytical Occupation.