|Source: IBM. Cover for the Upskilling India report.|
A majority of Indian executives surveyed in the study said that the quality and quantity of skills in the Indian workforce are at least comparable to those of other countries, and many reported them to be superior. However, only 40% indicated new employees in local labour markets have the requisite job skills.
The IBM study, Upskilling India, derives insights from a survey of academics, corporate-recruiters, and emerging education leaders in India. In addition, the study also analysed results of recent surveys of startup entrepreneurs, venture capitalists and corporate executives.
- Six in 10 (61%) of India's surveyed educators indicate that the higher education system is unable to respond to changing societal needs.
- Seven in 10 of India's venture capitalists indicated that startups cannot find employees with the right skills.
- Only 40% of Indian industry executives said new employees recruited in local labour markets have requisite skills.
- Nearly three quarters (73%) of India's education leaders surveyed say new technologies are disrupting higher education.
"Today's rapidly evolving economic environment makes developing new skills an imperative across job profiles and sectors. At IBM, we believe in providing an environment that fosters new learning and development experiences aided by the power of technology," said DP Singh, VP and Head - HR, IBM India/ South Asia. "We are working with government bodies, academia, corporates, startups and recruitment firms to equip India with a 'job-ready' workforce."
Between 2010 and 2030, India's working population is expected to expand from 750 million to almost 1 billion. Without adequate education and training, such population growth poses increased risk of the emergence of a growing class of the under or unemployed.
The study recommends:
Developing more practical, experience-based education - Rethink higher education curricula by identifying opportunities to infuse experience-based and real-world learning experiences and embracing new teaching technologies and techniques. Higher education institutions should build alliances with industry partners, share learnings and refine strategies.
Embracing technologies that improve educational access, experiences, and outcomes - Assess current capabilities and requirements, experiment with using new technologies and extend capabilities through ecosystem partners.
Build deeper relationships with ecosystem partners - Define and reach consensus with key partners around a common vision for the education ecosystem, with clearly defined commitments from all partners.
Read the Upskilling India study
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