To accomplish such an ambitious mission, the FutureSkills Lab will have three core functions.
1. Support innovative approaches to skills development: Solicit, select, and co-finance innovative pilot programs in skills and competency development that address identified gaps among workers, post- secondary students, and youth
2. Identify and suggest new sources of skills information: Gather labour market signals of skill needs by amassing a portfolio of pilot proposals, support innovative labour market information initiatives focused on employer expectations, use web-based sources to extract and synthesize emerging labour market trends, and draw links between credentials and skills
3. Define skills objectives and inform governments on skills programming: Rigorously measure outcomes of forward-looking and targeted training programs and skills information initiatives, identify and disseminate best practices broadly to education and training stakeholders across Canada, and determine a set of skills objectives for the future. Should stakeholders choose to opt in, these objectives can then help inform the more than $17 billion in annual public spending on skills and training programs, the work of organizations that generate and analyze Canadian labour market information, and researchers and practitioners directly involved with training and education programs