A report by NASSCOM, FICCI and EY named — Future of jobs in India: A 2022 perspective, says –
“India’s job landscape is in transition with a slowdown in employment in core sectors and the concurrent emergence of new engines of job creation. Over the next few years, many other factors such as the levels of FDI flow, impact of exponential technologies on off-shoring, increase/decrease in overseas job opportunities for the Indian labour force, speed of adoption of emerging technologies, demands resulting from environmental sustainability, rising middle class and a high proportion of young population, would be some of the other key determinants of future of jobs in 2022. The Government of India now needs to effect reforms in education and skills to create a large Industry 4.0 compliant workforce, and create enabling policies to drive rapid industry adoption of Industry 4.0 technologies. The industry needs to focus on driving large scale re-skilling of the existing workforce.”
“India will have to prepare itself to fully realize the economic opportunities of the technological advancements and transform to create a nimble demand led education system integrated with skill development. A collaborative effort from Government, industry and academia can certainly turn the challenge of Industry 4.0 into an opportunity, but the time for action is ‘NOW’,” the report further states.
Imarticus Learning is India’s leading financial services and analytics professional education company. The company assists individuals and large organizations in meeting their human capital and skillset requirements through a range of bespoke programmes delivered through both online and classroom learning. The organization has educated 30,000+ individuals globally through its top-notch Prodegree and Post-Graduate programs, managed by a fully-integrated online learning management and governance system.
Stoodnt.com got in touch with Nikhil Barshikar, Founder and MD, Imarticus Learning to learn more about the importance of skill-based training in today’s job market reality.
According to Barshikar Today, professionals as well as students are shifting from pursuing traditional graduate courses to online skill based learning for its result-oriented nature. He asserts that skill based learning has become an important aspect in the current job scenario as industry veterans are looking to have a talented workforce that has experience and knowledge in using tools like AI, Big Data, Data Analytics, Python, etc.
Millennials to be hugely benefited
Many of Imarticus Learning programs not only provide a rich and diverse knowledge in the field of their interests but they are provided in collaboration with various industry veterans and experts.
“Our Prodegree courses are provided in collaboration with reputed firms like IBM, Barclays, Genpact, SAP and MCX amongst many others. The median salary that one bags is upwards of Rs 4 lakhs after completing our entry level placement courses and we have been able to provide placements to more than 1500 students this year itself. Besides this, individuals with skills in AI, Big Data, Data Analytics, etc. are always in high demand and will have a good growth trajectory in terms of their career path,” shares Barshikar.
What are the most in demand skill development programs
For Barshikar some of the most important skills that would play a core role to most of the jobs in the future include Statistical Analysis & Data Mining, Python and Machine Learning.
“These skills will be the base demand for every job and thus programs and courses providing specialisation in these skills are currently and will continue to be in high demand amongst students, professionals as well as industry leaders,” he adds. At Imarticus, the course fees range from Rs 12,000 to Rs 2,20,000 and it varies from each course and the course tenure ranges between 1 to 6 months depending on which course the student has opted for.
What is the right time to take up such courses?
“Post-graduation, one should definitely look at skilling themselves and taking up relevant courses that will provide the individuals with the necessary skills. For professional, it would be an added advantage to help progress in their careers as firms around the globe and within the country are looking for individuals with skills and knowledge in Industry 4.0 technologies,” he informs.
Demand-supply scene in India regarding skilled resources
There have been many surveys and findings showing the high demand for skilled employees and resources. In a recent FICCI-Nasscom & EY report, by 2022, nine per cent of the country’s 600 million estimated workforce would be deployed in new jobs that do not even exist today, while 37 per cent would be in jobs that have radically changed skill sets. Thus skilled resources are in high demand and will continue to be for the next few years.
India 5 years hence in the skill space
Barshikar believes in the next five years India will have a much more skilled workforce and thus be able to lead the country towards new heights when it comes to being experienced and knowledgeable in the use and implementation of Industry 4.0 technology.
“Our IT workforce has dominated in the past and have always been in high demand around the globe and I believe given at the rate we are re-skilling, we will definitely continue to dominate!” he enthuses.
Imarticus has also emerged as the preferred skill development partner for 200+ firms, which include leading global and domestic banks, consulting, technology and analytics firms. After bolstering its leadership stance in India, the firm is currently expanding to international markets and aims to build a globally connected network of learners and professionals. Imarticus has won many accolades, including Excellence Awards, Leading Institute in India and is also a partner to NSDC (National Skill Development Corporation) and NSE (National Stock Exchange).