Skills mismatches are one of the biggest challenges that currently jeopardises European growth and sustainable job creation. Future prospects are even more challenging. With the rapid, even revolutionary change of technologies, business models as well as customer expectations, the nature of work is often changing in an unprecedented and almost unpredictable manner. This has brought to light the growing gap between the needs of the businesses and the qualifications, skills and competences of the human resources. Current developments also underline the growing importance of soft and transversal as well as other skills often gained through informal learning. This challenges the current education systems to adapt and also raises issues linked to recognition and validation of the informal education and training.