The urgency of addressing skill gaps is apparent—and, among the young generation, more crucial than ever. Most respondents say that skill-building and innovation (more than a job) is the best way to close those gaps and that they have doubled down on their efforts to reskill or upskill young people since the pandemic began. The results also point to a shift in the essential skills to develop, which tend to be social and emotional: for example, empathy, leadership, and adaptability. Regardless of the skills involved, we also found a straightforward recipe for success. With skill transformations, which are large-scale, programmatic efforts to support skill-building, young people can adapt to the changing requirements of their current role or move into a new one. When institutions and communities engage in possible practices that support a skill transformation, for example, assessing the demand and need for specific skills in the future, designing a portfolio of initiatives to close skill gaps, and launching an organizational structure that is dedicated to learning—the odds for success are nearly guaranteed.