By: Dr. Nana Okogyedom Adoofi I

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A 24-hour economy represents an economic system wherein companies, sectors, and service providers function continuously without interruption, promoting enhanced output, employment opportunities, and international market strength.

Nations like China, the United States, and the United Kingdom have utilized this framework to expedite economic expansion and increase their GDP (World Bank, 2023).

For Ghana, adopting a 24-hour economy offers a chance to boost employment, commerce, and manufacturing outputs. Nonetheless, having a thoroughly prepared labor force is essential for maintaining this transition.

At present, Ghana’s labor market encounters skill shortages in key areas like technology, healthcare, manufacturing, logistics, and finance. According to the Ghana Statistical Service (2023), approximately 80% of companies function during traditional business hours, which restricts economic growth.

Providing employees with the appropriate skill set—including digital literacy, adeptness at automation, flexibility in adapting to various tasks, and specialized service competencies—is crucial for optimizing the advantages of a round-the-clock economic system.

The International Labour Organization (2022) reports that countries implementing robust workforce development plans see their productivity rise by approximately 15% on average.

The piece delves into the significance of skill enhancement for Ghana as it moves towards a round-the-clock economic system, stressing on technical instruction, digital learning, adjustments in labor laws, and partnership with industries.

The aim is to offer policy suggestions for readying Ghana’s labor force for a dynamic and sustainable economic transformation.

The significance of skill enhancement in a round-the-clock economy

1. 
   Boosting employee productivity and effectiveness
   

An adept workforce plays a crucial role in fostering economic development. As productivity guru Peter Drucker posits, “The sole enduring edge an organization can have is its capacity to outlearn rivals” (Drucker, 1999).

In an around-the-clock economic environment, employees need to adjust to adaptable timetables, mechanized processes, and worldwide market trends.

Industries like banking, healthcare, transport, and ICT will necessitate staff skilled in areas including artificial intelligence, cybersecurity, and remote service provision.

According to the World Economic Forum (2023), half of the global workforce will require skill upgrading by 2025 because of automation and digital transformation.

Reforms for Vocational and Technical Education

Ghana’s Technical and Vocational Education and Training (TVET) sector is crucial for developing the nation’s workforce. Nevertheless, merely 10% of the workforce has received formal vocational training as reported by the Ghana Ministry of Employment in 2023.

In order to cater to the requirements of a round-the-clock economy, TVET institutions should incorporate industry-focused programs such as mechatronics, robotics, and logistics management into their curriculum.

Nations such as Germany and Singapore have effectively integrated TVET systems with industrial demands, facilitating a smooth shift from educational training to job placement. Ghana could implement comparable apprenticeship initiatives to provide young individuals with specific skills tailored for 24/7 operational environments.

Digital proficiency and flexibility for working from afar

With global markets transitioning toward digital economies, digital literacy has become crucial for maintaining competitiveness. In Ghana, the internet penetration rate is 68.2%, as reported by the National Communications Authority in 2023, suggesting a solid base for expanding the digital workforce.

E-commerce training programs, along with those focused on cloud computing and digital marketing, will equip employees for modern work arrangements. This allows companies to function effectively outside of traditional working hours.

According to a report by McKinsey & Company (2023), employees with digital skills boost national productivity by 30% compared to those without such abilities.

Regulations and labor law modifications

Achieving the success of a round-the-clock economy necessitates labor policies that safeguard worker rights while also enhancing economic efficiency.

Ghana needs to update its labor regulations to include adaptable work arrangements, shift-based jobs, and equitable pay systems.

The International Labour Organization (2023) indicates that robust labor laws can enhance work-life equilibrium, promoting sustainable employment practices.

Moreover, integrating workplace safety protocols, improving social security benefits, and implementing employee wellness initiatives should be included in governmental policies to foster a robust workforce.

Approaches for Enhancing Skills Development within Ghana’s Workforce

1. 
   Public-Private Partnerships (PPPs):
   
   Work alongside businesses to offer immediate vocational training courses.
2. 
   Growth of TVET and digital education:
   
   Boost funding for career-oriented and technology-focused education.
3. 
   Corporate upskilling initiatives:
   
   Promote companies to offer ongoing educational chances.
4. 
   Government-funded reskilling programs:
   
   Back workforce development with government-sponsored programs.
5. 
   Flexible work policies:
   
   Create rules that facilitate night shifts and remote work while safeguarding workers’ rights.

CONCLUSION

Ghana’s shift towards a 24-hour economy offers significant economic benefits, yet its achievement depends on the preparedness of its workforce.

Boosting technical and vocational training, improving digital proficiency, and enacting worker-supportive regulations will be essential for fostering sustainable economic progress. By strategically investing in skill enhancement, Ghana has the potential to become a prominent economy in Africa, capitalizing on continuous economic operations around the clock.

REFERENCES

• Drucker, P. (1999).
  Leadership obstacles for the 21st century
  . HarperCollins.
• Employment Ministry of Ghana. (2023).
  Labor market analysis: Advancements in skills training and job market shifts
  . Government of Ghana.
• Ghana Statistical Service. (2023).
  Labour force survey report
  . Accra, Ghana.
• International Labour Organization. (2022).
  The future of employment: Worldwide skill enhancement patterns
  . Geneva, Switzerland.
• International Labour Organization. (2023).
  Workplace and labor market strategies for a round-the-clock economy
  . Geneva, Switzerland.
• McKinsey & Company. (2023).
  The effect of digital competencies on nationwide productivity
  . McKinsey Insights.
• National Communications Authority. (2023).
  Annual telecommunications report
  . Government of Ghana.
• World Bank. (2023).
  Transformation of the economy via round-the-clock business operations
  . Washington, D.C.
• World Economic Forum. (2023).
  The Future of Jobs Report
  . Geneva, Switzerland.

The article offers an extensive examination of workforce development strategies tailored for Ghana’s around-the-clock economy.

| Email:

Okogyedom24@gmail.com
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The author is an esteemed Ghanaian academic known for their extensive career spanning more than thirty years. They have demonstrated expertise across various domains including academia, regional integration, public policy, sustainable entrepreneurship development, human resource management, organizational growth, leadership, governance, democracy, culture, and tradition.

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