The business environment of today’s industries is extremely dynamic. Every industry is experiencing a change with advancement in technology and development of new innovations. The continuous transformations in the field of technology are bringing new changes in the industries and working processes. These changes are ultimately transforming the workforce. In this rapidly changing ecosystem, the only way to stay updated throughout one’s career is through upskilling. There has been uproar towards upskilling, especially after the outbreak of Covid-19. A tremendous growth rate of 200% has been witnessed regarding various upskilling courses. Professionals from every segment whether tech or non-tech are busy upskilling themselves to meet the changing needs of the industries.
Today’s workforce needs to be equipped with appropriate and latest skill sets to secure their career and stay updated. With the introduction of new technology advancements such as Web 3.0 and Metaverse, the upskilling market is expected to grow even more. The future of work is evolving quickly, which shows that professional upskilling is the demand of the hour. Regarding this, let us see the various beneficial aspects of upskilling.
Industry Trends Regarding Upskilling
According to industry trends, the majority of professionals who are willing to upskill themselves come from diverse industries. These are IT, Banking, Healthcare, Education & Training. There are many companies who are investing in upskilling their existing employees to increase organisational capability. Big tech firms such as JP Morgan, Amazon, and Accenture are actively expanding their upskilling initiatives to bridge the skill gap in the industry. IT giants like Infosys are hiring freshers on the basis of their skill sets where about 20% of them come from a non-tech educational background. The company is going to invest on their upskilling to create a talented and updated tech force. Many industry leaders are also stepping towards upskilling to stay ahead of their competitors.
Enriching Oneself With Latest Skills
In today’s fast changing world, upskilling has become a necessity rather than a choice. It is helpful in making professionals ready for Industry 4.0. It has been estimated that around 60% of jobs available today are likely to change their nature in the next few years. This is going to happen with the emergence of new job roles according to industry needs. This has increased the demand for upskilling to a greater extent. Upskilling will aid professionals in diversifying their existing knowledge base and learn new skills to incorporate them on their work projects. Upskilling ensures professionals that they are able to grasp new techniques and contribute their best to the organisation. It makes them believe that their skills are not obsolete and will boost their confidence level too.
Upskilling Courses For Professionals
Upskilling improves job satisfaction by allowing professionals to secure a better paying job. In order to secure a high paying job, professionals must need to know about courses which will help them in gaining this opportunity. Some trending upskilling courses in this segment are – Digital Marketing, Business Analytics, Data Science, Artificial Intelligence, Software Development, Blockchain, Cybersecurity, and Cloud Certification. Anyone can enrol for these courses, whether they belong from tech or non-tech background. Taking example of data science here, a certified data science expert earns between INR 25 lakhs to 60 lakhs in India. These salary figures increase with increase in experience. As data science is a booming industry, the demand for experts is more in this field.
The global work scenario in the present time demands professionals to be prepared with multiple skill sets – from leadership quality, better communication, work related skills to other management skills. Thus, upskilling has become a prerequisite for employees as well as organisations around the world. The technological advancements and digitisation has made upskilling easily possible for everyone. Various online learning platforms and ed-techs are offering upskilling courses with certification. They are also giving industry-related experience to their learners under the guidance of respective industry experts. According to the World Economic Forum, investment in upskilling has the potential to boost the global GDP by $ 6.5 trillion by FY 2030.
(The author is Mr. Rahul Kashyap, Co-founder of Skillslash and the views expressed in this article are his own)
