The world economy is increasingly shifting toward knowledge-based production, meaning instead of manufacturing, industries are now more focused on implementing new ideas about technology, machine learning, product design, etc. Although interesting, this new state of the market also brings some challenges, particularly for the workers and employers. For instance, it can hard to find your place and position yourself well in an online labor market if your skills are very diverse. Similarly, it can be challenging to evaluate the skill set of a worker, as combinations of various skills are important.
But now, thanks to a new tool developed by an economist Kathrine Anderson from the Tepper School at Carnegie Mellon University, this process may become much easier for both workers and employers.
The new tool evaluates a worker’s skill set and determines its impact on wages. In doing so, it helps workers better position themselves in the market, and employers evaluate more quickly and easily the skills of a worker.
“The interactions between skills are represented by a skilled network,” explains Anderson. “The position of a worker’s skills on the network indicates the type of worker she is, how diverse her skills are, and how well they work in combination.”
The new tool should help improve the online labor market search algorithms, and as a result, better match workers and employers.
Carnegie Mellon University via Phys.org (https://phys.org/news/2017-11-tool-job-searchers-position.html)