skill

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Skill

The ability to accurately forecast returns. We measure skill using the information coefficient.

Skill

The ability to perform a task well. For example, a locksmith has the skill to make new keys for customers' homes and cars. Skills are required to perform many jobs and employers will only hire persons who fit the required skill set. As a result, skilled workers are often more highly paid than unskilled workers.

skill

any competence possessed by someone; in an employment context it often refers to a combination of knowledge and manual dexterity amongst manual workers. JOBS are often categorized as skilled, semiskilled or unskilled according to the level of skills apparently required to perform them. However, many argue that there is a mismatch between skills that are actually necessary to perform certain jobs and the nomenclature of the job. Jobs classed as skilled may in reality require little skill (perhaps because of the introduction of new technology) whilst unskilled jobs may require more knowledge than is often recognized (tacit skills). It is therefore argued by some that skills are socially constructed. By defining certain jobs as skilled, entry to them can be restricted to those who possess certain recognized competencies or characteristics. If acquisition of these can be controlled then entry to the job can be restricted. In this way the rewards stemming from the job can be maintained at a high level. This has traditionally been the strategy of craft TRADE UNIONS and of PROFESSIONALS. See SOCIOLOGY OF WORK, TRAINING.

skill

any competence possessed by a person, although in an employment context it often refers to a combination of knowledge and manual dexterity among manual workers. JOB or work tasks are often categorized as skilled, semi-skilled or unskilled according to the level of skills apparently required to perform them.

A key factor in upgrading skills is investment in TRAINING, both in terms of the provision of general education facilities by the government and, more specifically ‘on-the-job’ or vocational training facilities by firms and by the government.

The general level of skills of a firm's LABOUR FORCE is an important factor in increasing PRODUCTIVITY while, more generally, the skills of the labour force, as embodied in HUMAN CAPITAL, contribute to the achievement of higher rates of ECONOMIC GROWTH.

References in classic literature ?
On another day, she wandered with him, hand in, hand, along the deserted paths of a garden whose creepers had been cut out by a decorator's skilful hands.
I say, too, that when a painter desires to become famous in his art he endeavours to copy the originals of the rarest painters that he knows; and the same rule holds good for all the most important crafts and callings that serve to adorn a state; thus must he who would be esteemed prudent and patient imitate Ulysses, in whose person and labours Homer presents to us a lively picture of prudence and patience; as Virgil, too, shows us in the person of AEneas the virtue of a pious son and the sagacity of a brave and skilful captain; not representing or describing them as they were, but as they ought to be, so as to leave the example of their virtues to posterity.
For, after a long series of military successes, or diligent and skilful labours, it is generally found that the more intelligent among the Artisan and Soldier classes manifest a slight increase of their third side or base, and a shrinkage of the two other sides.
He was an authority on the stage, skilful on the ice or the links with skate or golf-club; he dressed with nice audacity, and, to put the finishing touch upon his glory, he kept a gig and a strong trotting-horse.
They were managed by skilful, half-naked paddlers, and I watched their advance with some uneasiness.
Skilful detectives have been sent to all the principal ports of America and the Continent, and he'll be a clever fellow if he slips through their fingers.
Let us explain more clearly what is meant by skilful handling.
He compares the frontiersman, who has never so much as opened a book in all his life, yet knows how to follow in the chase, and is skilful, strong, and hardy, with the men of his own profession.
But the skilful manner in which Dantes had handled the lugger had entirely reassured him; and then, when he saw the light plume of smoke floating above the bastion of the Chateau d'If, and heard the distant report, he was instantly struck with the idea that he had on board his vessel one whose coming and going, like that of kings, was accompanied with salutes of artillery.
The mercenary captains are either capable men or they are not; if they are, you cannot trust them, because they always aspire to their own greatness, either by oppressing you, who are their master, or others contrary to your intentions; but if the captain is not skilful, you are ruined in the usual way.
This class of boys, in short, must supply the world with those active, skilful hands, and clear, sagacious heads, without which the affairs of life would be thrown into confusion by the theories of studious and visionary men.
They showed themselves, however, as brave and skilful in war as they had been mild and long-suffering in peace.