21st century skills for a 21st century workforce

Posted 7 hours ago

Proposed by Principal Financial Group, Inc.

Originally posted on Principal.com

When it comes to the age-old question, “What do you want to be when you grow up?” part of the hurdle for students is understanding their options. Young people are often underexposed to learning pathways, potential jobs and career paths,1 and lack the diverse skills that today’s workforce needs. This includes data literacy: only 21% of students aged 16-24 are considered data savvy.

Nowhere is this more apparent than in technology-driven fields, especially data science. Roles in this field are expected to increase by 22% between 2020 and 20302— a faster than average rate — with a base salary of over $120,000.3 But there is a shortage—up to 250,0004 according to some estimates, qualified professionals to meet this demand.

So if students need more career exposure and data science needs more professionals, what is the solution? DataSetGo, a collaboration between Principal® Foundation and EVERFI, offers a free and one-of-a-kind educational option.

Data skills for students

EVERFI provides digital educational programs, and the DataSetGo program includes two components of data science and financial literacy aimed at high school students. The first, Data Science Foundations, consists of four modules that can be completed in about two hours. These include an explanation of the basics of data science and the development of simple skills, from collecting and analyzing to reporting data.

Part two, Data Science Exploration: Financial Wellness, connects data science as a field to its practical application in financial services careers through interactive simulations in a 30-minute exercise. “Our goal is to give students an education that offers a powerful pairing of financial literacy and college and career readiness,” said Jo Christine Miles, Principal Foundation and Community Relations Director.

To ensure its relevance, the program was reviewed by a volunteer IT expert in the field. Murugan Nambiar, Program Manager at Principal® which focuses on data and analytics, had the opportunity to offer feedback and support to ensure the content resonated. “I have a set of experiences and knowledge that I thought I could bring to the table, and this felt like a great opportunity for me to give back to the community,” says Nambiar.

The program in action

During his volunteer review, Nambiar found himself impressed with the program’s structure and deliberation. “He doesn’t just expose students to data science and financial services in the abstract, he really applies them in believable scenarios,” he says.

DataSetGo got its first try in the 2021-2022 school year when 6,000 students from over 160 schools completed the course. Early results were promising: students doubled their assessment scores related to data science skills and processes.

The program will reach a broader student base in the 2022-2023 school year, with students in 11 cities – Atlanta; Charlotte, North Carolina; Dallas; Des Moines, Iowa; Folsom, California; Minneapolis; New York City; Raleigh, North Carolina; Seattle; Washington D.C.; and Wilmington, Delaware—participating. The DataSetGo program is free; students over the age of 13 can self-register or educators can register to deliver the modules as part of a school curriculum.

Learn more about DataSetGo and discover Principal Foundation resources to help you gain the knowledge and skills you need to support your family’s financial decisions.

1 Intermediate Years ReviewAmerican progress “Preparing American Students for the Workforce of the Future”, harvard business review

2 Bureau of Labor Statistics

3 In effect

4 QuantHub

DataSetGo is not affiliated with any member company of the main financial group®

Principal Financial Group Foundation, Inc. (“Principal® Foundation”) is a duly recognized 501(c)(3) entity that is focused on providing philanthropic support for programs that build financial security in the communities where Principal Financial Group, Inc. (“Principal”) operates. While Principal Foundation receives funding from Principal, Principal Foundation is a separate and independent charitable entity Principal Foundation does not engage in any form of investment advisory services and is not licensed to do so.
© 2022 Main Foundation.

Principal community relations supports communities where Principal Financial Group affiliates®, Des Moines, IA 50392 works. Insurance products and plan administration services provided through Principal Life Insurance Company®member of Principal Financial Group, Des Moines, IA 50392.
Director®Main financial group®and Principal and design are registered trademarks of Principal Financial Services, Inc., a Principal Financial Group company, in the United States and are trademarks and service marks of Principal Financial Services, Inc., in various countries of the world.

©2022 Principal Financial Services, Inc.

2409705-092022

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Principal Financial Group, Inc.

Principal Financial Group, Inc.

Main financial group® (Nasdaq: PFG) is a global financial company with 18,500 employees1 passionate about improving the wealth and well-being of people and businesses. In business for more than 140 years, we help more than 51 million clients1 plan, protect, invest and retire, while working to support the communities in which we operate and create a diverse workforce and inclusive. Director® is proud to be recognized as one of America’s 100 Most Sustainable Companies2, a member of the Bloomberg Gender Equality Index and one of the 10 Best Companies to Work For in Financial Management3. Learn more about Principal and our commitment to building a better future at principal.com.

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