Lifelong Learning in a Longer Life: Why Upskilling and Portfolio Careers Are the Future of Work in Australia

Australia’s workforce is changing. We’re living longer, working longer and increasingly navigating careers that look less like a ladder and more like a portfolio of diverse experiences. In a world where technological disruption and economic shifts are constants, lifelong learning isn’t just a buzzword, it’s a survival skill. This evolution in how we work and learn reflects a profound cultural and demographic shift. The question isn’t whether Australians will need to adapt but how they can stay ahead by upskilling, reskilling and embracing the flexibility of portfolio careers.

Why Lifelong Learning Matters Now

With life expectancy rising, Australians are facing longer careers than ever before. A 20-something entering the workforce today might work into their 70s, navigating five or more decades of change. Jobs that exist now may become obsolete, while entirely new roles will emerge.

If we look at soft skills and hard skills; soft skills tend to have longer half-lives, while the opposite is true of hard skills - and their relevancy is shrinking in light of rapid technical advancements. According to IBM, the half-life of hard skills today is about 2.5 years¹. According to Deloitte’s 2023 Global Human Capital Trends report, 76% of Australians believe continuous learning will be critical to their success. However, only 38% feel they’re prepared to upskill effectively².

The Portfolio Career: A New Way to Work

The days of staying in one company for an entire career are long gone. Increasingly, Australians are embracing portfolio careers, blending freelance work, entrepreneurial ventures and part-time roles. This approach offers flexibility and diversification, critical in an uncertain job market. The appeal of portfolio careers lies in their adaptability. Workers can pivot to industries or roles with higher demand, leveraging new skills to remain relevant. For many, it’s a way to blend professional growth with personal passions, which in turn reduces burnout.

How Australians Are Investing in Lifelong Learning

From online courses to micro-credentials and immersive bootcamps, Australians are taking control of their professional development in a myriad of ways.

• Online Platforms: Coursera, LinkedIn Learning, and Udemy report consistent growth in Australian enrolments. In 2023, Coursera revealed a 45% increase in enrolments from Australia, particularly in tech-related fields.
• Industry-Specific Training: Programs like General Assembly’s coding bootcamps or RMIT Online’s digital marketing courses are helping professionals make targeted pivots into high-growth sectors, where they acquire specific skills.
• Corporate Initiatives: Companies like Atlassian and ANZ are funding upskilling programs for employees, recognising that investing in skills is critical for retaining top talent.

Pax8 APAC is a marketplace that connects SME’s with enterprise grade IT solutions; and is committed to continuous learning. They extend this mindset to their clients with dedicated upskilling offers to accompany the tech solutions they sell. CEO Chris Sharp Says, “Investing in upskilling and continuing education isn’t just about staying ahead of technological shifts – it’s about empowering our workforce to think critically, innovate, solve problems faster and adapt to new challenges with agility,”

The Role of Government and Policy

The Australian government is also stepping up, launching initiatives like the National Skills Commission and offering funding for vocational training and apprenticeships. In 2024, the federal budget allocated $500 million to support reskilling in areas like cybersecurity, AI and green technologies. But experts argue that more is needed. Countries like Singapore have embraced “SkillsFuture,” a program that gives every citizen credits to spend on training throughout their lives. Australia could benefit from a similar approach.

Challenges to Overcome

Despite these opportunities, barriers remain. Cost, time and uncertainty often deter people from pursuing upskilling. Additionally, access to quality training in regional areas can lag behind urban centres. However, the rise of remote learning and government-backed subsidies is helping to address these issues. The mindset shift, seeing learning as an ongoing investment rather than a one-time expense, will be key to overcoming these obstacles.

The Big Takeaway: Upskilling is Everything

As Australians live and work longer, lifelong learning and portfolio careers will become not just options but necessities. The ability to adapt, pivot, and grow will define success in this new era. For individuals, the message is clear: the days of static careers are over. Investing in skills, embracing diverse opportunities, and staying curious will be the cornerstones of thriving in a transforming workforce. It’s time to transform with it.

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Footnotes:

1. https://360learning.com/blog/half-life-skills/
2. https://www2.deloitte.com/us/en/insights/topics/talent/organizational-skill-based-hiring.html