1. Forecast skills needs andtrends to informdecision makingBusinesses and the education industry The Global Skills Taxonomy is a powerful tool for organizations to forecast and benchmark skills needs by analysing current workforce ca - pabilities and identifying emerging trends at global, country and industry levels. By identifying specific skills key to job roles and overlaying skills supply and demand data acr oss the organization, industry or country, businesses can better anticipate wher e skills gaps are prevalent or emerging, and target plans and investment accordingly. This fore- sight enables informed decision-making around reskilling, upskilling and talent redeployment, ensuring a workforce prepared for future cha- llenges. The Global Skills T axonomy serves as the foun- dation for the World Economic Forum ’ s Futur e of Jobs Report, a key resource for organiza- tions to identify both established and emerging skills critical to workforce strategies acr oss in- dustries and regions. Learn more how EY uses its skills taxonomy to support workforce planning.Governments Utilizing data analytics hel ps to better unders- tand current skills and labour -market trends, projecting future skill ne eds for economic growth. Governments can us e these insights to develop strategies that address skills gaps and labour shortages, enhancing the overa ll com- petitiveness of the econ omy. In addition, it is importa nt to imple ment a sys- tematic approach to continuously mo nitor skills and establish metrics to assess prog ress in workforce development, social inclusion and economic competitiveness. Key indicators – such as labour-market partic ipation, unemploy- ment rates and skills gaps, p articularly within marginalized communities – should be tracked to identify shortages and g uide ta rgeted training programmes. This continuou s ana lysis provides crucial labour-market insights, enabling timely interventions, strategic plannin g and policies that strengthen workforce re silience and align with national economic obje ctives. Governments can use resources like the Forum ’s Future of Jobs Report, leveraging the Global Skills Taxonomy , to understand how technolo- gical, economic, and societal shifts impact jobs and skills. The report offers insights into emerg- ing skills, helping governments shape workforce policies for global market demands.See Key insight 2 to find a breakdown of emerging skills and jobs, at the global, industry and country levels, leveraging the Global Skills Taxonomy. We’re enhancing our workforce planning, es- pecially our 3- to 5-year outlook, by focusing on the skills needed for future success with both quality and strategic insights. This re- view has gone beyond hiring volum es to a- ssess specific skills across business ar eas, helping us identify gaps, areas of growth, and skills that may be declining. As a r esult, we can now better prioritize and direct our investment in skills development where it will have the gr eatest impact. HSBC Global Skills Taxonomy Adoption Toolkit 15

Global Skills Taxonomy Adoption Toolkit 2025