Essential Skills & The Northern Oil and Gas Workforce

Slide 21

Essential Skills & Productivity

Individuals at level 1&2 lack the skills needed to transfer learning to new environments ?? Training and development for highly skilled individuals has poor ROI
Increasing essential skill levels of lower skilled individuals by 5 points (1%) results in a permanent 1.5% increase in GDP and a 2.5% increase in labour productivity
Investment in human capital such as education and skills training, is three times as important to economic growth in the long run and investment in human capital (from Literacy, Numeracy and Labour Market Outcomes in Canada, Statistics Canada)