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Recognising these skills and the ability to apply them to different roles, potentially in different industries, opens up whole pools of untapped talent to businesses and recruiters alike. It will also help to mobilise those workers displaced by technology.

Transferring between occupations throughout a career is nothing new, but the length of time for which expertise remains relevant is declining rapidly. The concept of a single career with a fixed knowledge place will become less common – workers will need to continue to learn and apply their skills in different ways throughout their career. 

To realise the untapped potential of transferable skills across all parts of the workforce, positive action is required from businesses, workers, government and educators, and if successful will improve worker mobility between jobs and regions, thereby unlocking significant economic and social benefits.

Employers will need to change their approach to recruitment. Traditional recruitment processes, particularly for experienced workers, tend to focus on academic achievement and sector expertise and could therefore overlook individuals who might be well-suited for the role  but who have built up their skills in a different context.