Written by Rahul Kashyap
In today’s technology-driven world, upskilling has become a necessity for developing critical skill sets across different functional domains. They have become essential to sustaining a dynamic workplace. Upskilling has the potential to increase the employee retention ratio by providing opportunities for improved growth. According to a survey conducted by PwC, 77% of employees are interested in upskilling. They are aware of the fact that upskilling can increase their work performance, future promotions and ultimately salary.
The epidemic has devastated economies, disrupted industry around the world, and adversely affected everyone’s lives. Technology expectations are reaching new heights that have made high efficiency vital for keeping pace with development. “The illiterate of the twenty-first century will not be those who cannot read and write, but those who can learn, uneducated and re-learn,” said Alvin Tuffler, a famous American fortune teller. This statement is completely relevant to the current workforce.
Here are a few points to see a detailed overview of high efficiency and its impact on creating an elastic workforce.
Emerging upskilling course
Many technology-related upskilling courses attract the attention of staff. Courses such as Artificial Intelligence, Blockchain Technology, Data Science, Cloud Computing, Cybersecurity and Internet of Things are in high demand. This is because these courses allow people to hone their skills and get high returns from their education and experience. For example, an upskilling course in cyber security can help a person earn around Rs. With advances in new technologies such as Metaverse and Web 3.0, the upskilling industry is expected to grow even faster.
An emergence of the technology workforce
In India, about 4.5 million people are employed in the IT services and BPO industries. This number is expected to double in the next few years. However, the technology industry is still suffering from gender gaps. The technology industry contributes 4% of the total workforce. Percentage is expected to increase with the advancement of automated technologies like artificial intelligence and robotics. To work with these technologies, it is important to bridge the skills gap. Helping the upskilling industry by creating technology professionals with the potential to work efficiently.
Upskilling for everyone
The effects of upskilling can be seen in each domain. Many large technology companies such as Amazon, JP Morgan, Accenture, and PwC are expanding their high-skilled enterprises to existing employees. As of 2019, Amazon has trained 70,000 of its employees under various upskilling programs. Similarly, the trend of increasing efficiency is also gradually shifting towards industry leaders. SaaS and many industry leaders in the IT sector are enrolling in upskilling courses to better understand trending technology. Proper adoption of these technologies will allow industry leaders to ensure full compliance with their services Thus, upskilling is a great opportunity for those employed in the technology industry to increase their job prospects.
Skills is a valuable product for any company or organization, and upskilling is a way to synchronize these skills with the ever-changing global ecosystem. With the evolution of business models and strategies, it is important to upgrade yourself with the latest workforce skills. This allows the workforce to get better job opportunities with higher pay scales. Many ad-tech platforms are offering upskilling courses with certification and real-time industry experience. It helps people make new connections and quickly implement their learning.
The author is the co-founder of Skillslash.
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