By: Nana Okogyedom Adoofi I, (Ph.D)
A 24-hour economy is an economic model where businesses, industries, and services operate around the clock, fostering increased productivity, job creation, and global competitiveness.
Countries such as China, the United States, and the United Kingdom have leveraged this system to accelerate economic growth and boost GDP (World Bank, 2023).
For Ghana, transitioning into a 24-hour economy presents an opportunity to enhance employment, trade, and industrial output. However, a well-prepared workforce is crucial to sustaining this shift.
Currently, Ghana’s labour market faces skill gaps in critical sectors such as technology, healthcare, manufacturing, logistics, and financial services. The Ghana Statistical Service (2023) reports that 80% of businesses operate within conventional hours, limiting economic potential.
Equipping workers with the right skills: digital literacy, automation proficiency, flexible work adaptability, and service-oriented expertise is essential for maximizing the benefits of a 24-hour economy.
According to the International Labour Organization (2022), economies with strong workforce development strategies experience an average productivity increase of 15%.
This article explores the importance of skills development in Ghana’s transition to a 24-hour economy, emphasizing vocational training, digital education, labour policy adaptation, and industry collaboration.
The goal is to provide policy recommendations for preparing Ghana’s workforce for a dynamic and sustainable economic shift.
The importance of skills development in a 24-Hour Economy
- Enhancing workforce productivity and efficiency
A well-trained workforce is a key driver of economic growth. Productivity expert Peter Drucker asserts, “The only sustainable competitive advantage is an organization’s ability to learn faster than the competition” (Drucker, 1999).
In a 24-hour economy, workers must adapt to flexible schedules, automated systems, and global market dynamics.
Sectors such as banking, health, transportation, and ICT will require employees proficient in artificial intelligence, cybersecurity, and remote service delivery.
The World Economic Forum (2023) estimates that 50% of all employees will need reskilling by 2025 due to automation and digital transformation.
Vocational and Technical Education reforms
Ghana’s Technical and Vocational Education and Training (TVET) sector plays a critical role in workforce development. However, only 10% of the workforce has formal vocational training (Ghana Ministry of Employment, 2023).
To meet the demands of a 24-hour economy, TVET institutions must integrate industry-relevant curricula, including mechatronics, robotics, and logistics management.
Countries like Germany and Singapore have successfully linked TVET with industry needs, ensuring a seamless transition from education to employment. Ghana can adopt similar apprenticeship programs to equip youth with specialized skills for round-the-clock operations.
Digital literacy and remote work adaptability
As global markets shift towards digital economies, digital literacy is essential for competitiveness. Ghana’s internet penetration stands at 68.2% (National Communications Authority, 2023), indicating a strong foundation for digital workforce expansion.
Training programs in e-commerce, cloud computing, and digital marketing will prepare workers for non-traditional job structures, enabling businesses to operate efficiently beyond conventional hours.
A report by McKinsey & Company (2023) highlights that digitally skilled workers contribute 30% more to national productivity than their unskilled counterparts.
Policy and labour law adjustments
The success of a 24-hour economy requires labour policies that protect workers while promoting economic efficiency.
Ghana’s labour laws must be revised to accommodate flexible work schedules, shift-based employment, and fair wage structures.
The International Labour Organization (2023) suggests that effective labour regulations can improve work-life balance, ensuring sustainable employment practices.
Additionally, workplace safety measures, social security enhancements, and employee wellness programs must be integrated into government policies to create a resilient workforce.
Strategies for skills development in Ghana’s workforce
- Public-Private Partnerships (PPPs): Collaborate with industries to provide real-time skill training programs.
- Expansion of TVET and digital training: Increase investment in vocational and digital education.
- Corporate upskilling initiatives: Encourage businesses to provide continuous learning opportunities.
- Government-funded reskilling programs: Support workforce reskilling through state-funded initiatives.
- Flexible work policies: Develop regulations that support night shifts and remote work while ensuring worker protection.
CONCLUSION
Ghana’s transition to a 24-hour economy presents vast economic opportunities, but its success hinges on workforce readiness.
Strengthening vocational education, enhancing digital literacy, and implementing labour-friendly policies will be critical to achieving sustainable economic growth. With strategic investments in skills development, Ghana can position itself as a leading African economy, maximizing the benefits of round-the-clock economic activity.
REFERENCES
- Drucker, P. (1999). Management challenges for the 21st century. HarperCollins.
- Ghana Ministry of Employment. (2023). Labour market report: Skills development and employment trends. Government of Ghana.
- Ghana Statistical Service. (2023). Labour force survey report. Accra, Ghana.
- International Labour Organization. (2022). Future of work: Global skills development trends. Geneva, Switzerland.
- International Labour Organization. (2023). Employment and labour market policies for a 24-hour economy. Geneva, Switzerland.
- McKinsey & Company. (2023). The impact of digital skills on national productivity. McKinsey Insights.
- National Communications Authority. (2023). Annual telecommunications report. Government of Ghana.
- World Bank. (2023). Economic transformation through 24-hour economies. Washington, D.C.
- World Economic Forum. (2023). The future of jobs report. Geneva, Switzerland.
This article provides a comprehensive analysis of workforce development strategies for Ghana’s 24-hour economy.
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The writer is a distinguished Ghanaian traditional scholar with over three decades of professional experience with a diverse portfolio in Academic, Regional Integration, Public Policy, Sustainable Entrepreneurship Development, Human Resource Management, Organizational Development, Leadership, Governance, Democracy, Culture and Tradition.
