University of Novi Sad, Faculty of Economics Subotica (SERBIA)
About this paper:
Appears in: EDULEARN21 Proceedings
Publication year: 2021
Pages: 5723-5728
ISBN: 978-84-09-31267-2
ISSN: 2340-1117
doi: 10.21125/edulearn.2021.1159
Conference name: 13th International Conference on Education and New Learning Technologies
Dates: 5-6 July, 2021
Location: Online Conference
In order to organise a high-quality education system, it is essential to identify the current and future demand for skills, i.e. those that will be needed for economic development. As the structure of the economy is changing according to the needs of consumers on the domestic and global markets over time, so is the structure of the knowledge and skills. Maintaining competitiveness is possible only if such necessary knowledge and skills are present in educational outcomes, standards and qualifications contained in the educational programs.

The worldwide economic crisis has placed financial institutions are at the forefront of all things, which is reflected in other sectors of the economy. With developing economies that have been constantly changing due to information technology and business enhancements, financial institutions provide a growing variety of services and products, and need different skills and a new type of financial professionals. Adapting to the market changes tends to grow faster and more powerful, bringing about some negative and positive impacts on the economy. This article will provide an in-depth analysis of specific needs for occupations in this subsector, and an assessment of future needs.
In the paper authors will analyze the following elements: the demand for competencies; Real interest and expectations of employers; cost-benefit approach; monitoring development and progress.

It is obvious that lifelong learning is to become a reality in Europe, and to achieve this, what is required is an important joint effort of all partners, governments, employers, trade unions and citizens. To ensure better functioning of the European labour market, the Commission proposes thirteen concrete actions that will help to accelerate the process leading to improved flexibility and security on the labour market. One of the concrete proposals is to expand the use of open employment contracts, with a sufficiently long time period of probation and a gradual increase of protection rights, access to training and the concept of lifelong learning and vocational training for all employees.

Research limitations/implications:
The responses of Public Employment Services in this situation on the labour market are varied and often show opposite tendencies. In developed countries, despite these changes, the public sector has remained relatively effective, but there still are other pressures aimed at reducing costs and increasing efficiency through the development of intense competition and privatization.

Originality/Value of paper:
The key assumption is that the knowledge and skills acquired in educational institutions, but also through work and life experience, are the main generator of new products, technologies and ideas relevant to the economic development and social well-being and time. A key to the growth and development of the economy and policy development in the improvement of human resources in accordance with the short-and long-term needs of the economy, the community and the individual.
Labour market, education system, information technology.