Blog_Banner_Asset
    Homebreadcumb forward arrow iconBlogbreadcumb forward arrow iconGeneralbreadcumb forward arrow iconSkill deprivation: Education alone won’t guarantee a job, in-demand skills need of hour

Skill deprivation: Education alone won’t guarantee a job, in-demand skills need of hour

Last updated:
8th Nov, 2016
Views
Read Time
6 Mins
share image icon
In this article
Chevron in toc
View All
Skill deprivation: Education alone won’t guarantee a job, in-demand skills need of hour

If you are 25 years old, hold a degree in a traditional arts discipline from a well-regarded institute and are looking for a job, you may not be handed one on a platter any time soon. You may be cushioned within the famous Indian demographic that is supposed to yield a ‘dividend,’ but unlike what you’ve been reading everywhere, this does not guarantee you employment.
Between 1980 to 2010, 90% of world labour force growth occurred in developing countries and about 500 million new workers emerged in India and China alone (workers went from 260 million to 470 million in India, between this period). India is all set to power most of global growth in labour in the coming years. Enrolment in Indian higher education is 24% right now. With India attaining almost universal elementary education, and increased retention in secondary schools, the projected demand for higher education and jobs will only escalate. India has finally been placed on the world map with a solid advantage where labour supply is concerned.
Impacting Education: My Journey and UpGrad

It’s not all good news though. Indian millennials are being touted as the future of jobs and the saviours of the working world. But this won’t hold true if in-demand skills are not imparted to the youth entering the workforce. The world of work is changing and industries are transforming. It’s a fact that we are moving towards a massive labour pool, but we are possibly riding a low-skill, low-wage cycle to get there. The country is on a trajectory that involves a surplus of millions of low-skill workers, whereas most nations, including India, will be demanding high-skill workers more and more.
Most industries are replacing low-skill jobs with high-skill ones. Skills relating to upcoming technologies in advanced areas – think AI, robotics, data science and mining – are gaining immense relevance. Unfortunately, our education system is not preparing students well enough to enter the workforce as high-skill workers nor equipping them with skills in emerging domains. Curricula is outdated and pedagogy poorly-developed. Gone are the days when just holding a graduate degree was enough to get employers to clamour to hire you. Education is not enough. The new-age job-seeker must strive to acquire specific skill sets to be considered employable (currently only 43% of Indian youth are considered fully employable). This applies to all sectors of the economy, as most industries and businesses are adopting new-age technologies and going digital within most functions.
There’ll Be A Billion-Plus Job-Seekers By 2050!

The positive connotation associated with our demographic shift has been taken for granted and assigned the term ‘dividend.’ But if we don’t strategically harness this change, we could easily be faced with a demographic disaster. We don’t want to be stuck in a situation where we have too many job-seekers with inadequate skills, and therefore not enough jobs for them. India is moving workers out of farm jobs at a very fast rate, and this will only add to the burden of providing jobs in other sectors. Realising this, even the government has begun focusing on skill development and training. Creating an entirely new Ministry and launching the Skill India Mission are clear indications of this. Another sign that skill training is gaining momentum is reflected in the growth of the Indian education and skills industry at an average rate of 13% over four years. From Rs 1.21 trillion in 2008 to Rs 2.35 trillion in 2012.
However, these measures have not been enough to successfully skill India’s young. Only 2% of the Indian workforce has received some kind of formal skills training so far, and 8% have received informal training. Comparatively, 47% of China’s workforce is skill trained, 52% in USA, 68% in UK, 75% in Germany, 80% in Japan and 96% in South Korea. Almost half of Indian employers find it difficult to fill jobs and a similar proportion of employed youth suffer from some degree of skill deprivation.
By 2050, India will be home to more than a billion jobseekers. This means providing jobs for over 12 million new entrants annually. There is also the challenge of finding jobs for the backlog, which reached 60 million by 2014. The pace of accretion to the labour market will keep increasing, given our demographic profile and declining age-dependency ratio. Our working age population (15-64 years) will peak in 2050 and till then pressures for jobs will only become worse.
We need a wake-up call and more concerted efforts towards large-scale skill development and training. We may have a situation of too few high-skill workers and not enough jobs for medium or low-skill workers. This needs to be rectified by adjusting the education and skilling system to ready ourselves for the jobs of tomorrow.
Article Source: http://www.firstpost.com/business/skill-deprivation-education-alone-wont-guarantee-a-job-in-demand-skills-need-of-hour-3020568.html

Profile

Apoorva Shankar

Blog Author
Apoorva heads Content Marketing at UpGrad. Additionally, she heads UpGrad Online Scholarship (A Swades Foundation Initiative). She has dabbled with Business Development at UpGrad, prior to this. Before working at UpGrad, Apoorva was busy providing research support to Members of Parliament - with a focus on education and technology.
Get Free Consultation

Select Coursecaret down icon
Selectcaret down icon
By clicking 'Submit' you Agree to  
UpGrad's Terms & Conditions

Our Popular MBA Course

Frequently Asked Questions (FAQs)

1What are some of the ways to gain skills in the current world?

There has been a massive shift in people's perspectives in the past few years. Gone are the days when degrees defined your worth. One of the most important things that mattered to the companies in earlier days was the rankings of your college and your CGPA. Now companies hire people who have sufficient knowledge and skills in their respective fields. There are many platforms on which you can learn these skills, such as YouTube, podcasts, bootcamps, courses, etc. You can build your portfolio exhibiting various skills according to the job you are applying for. This will act as a great addition to your CV. You would never have to toil to get a job if you become an expert in your field.

2What are some of the most in-demand skills currently?

The skill-based job market requires applicants to be adept at the skills. Over time, as you gain more knowledge, you get promoted to higher positions. Your expertise becomes a valuable asset to the company. Some of the most in-demand skills in current times are coding, cloud computing, UI designer, copywriting, audio production, Blockchain, and management consulting. With so many online courses, you can also shift your career path by acquiring knowledge online.

3Which companies hire people on the basis of their skills, not just degrees?

With the changing paradigm of the job market in general, many companies are also hopping on the bandwagon and hiring talents without a college degree. Companies like Tesla, Google, Ernst and Young, Apple, and IBM are some of the big names hiring people without a college degree. This change has opened up many opportunities for youngsters as any profession is not constrained by a degree. Anyone having the desired knowledge and a hunger for learning can go for the job of their choice. The importance of skills will become even more critical in the coming years, which is going to yield exciting results.

Explore Free Courses

Suggested Blogs

Top 15 Highest Paying Non-IT Jobs in India [2024]
925639
Summary: In this Article, you will learn about top 15 highest paying Non-IT jobs in India. Highest paying Non-IT Jobs Salary per Annum Business
Read More

by Dilip Guru

16 Apr 2024

Top 15 Trending Online Courses in 2024 [For Both Students & Working Professionals]
165270
Professional certifications are invaluable tools for enhancing knowledge and skills in today’s competitive job market. They showcase your dedica
Read More

by Nitin Gurmukhani

15 Apr 2024

10 Best Job-Oriented Short Term Courses Which are In-Demand [updated 2024]
833976
Summary: In this article, you will learn the 10 Best Job-Oriented Short-Term Courses which are In-Demand in 2024. Take a glimpse below. Product Mana
Read More

by Kamal Jacob

15 Apr 2024

Top 25 Highest Paying Jobs in the World in 2024 [A Complete Guide]
1123492
Summary In this article, you will learn about the top 25 highest-paying jobs in the world. And you will be able to get the answer to ‘Which job has t
Read More

by Nitin Gurmukhani

14 Apr 2024

Top 5 Highest Paying Freelancing Jobs in India [For Freshers & Experienced]
917670
“How well do freelance jobs pay?” Though the freelance economy is still emerging and developing, this particular question is always lurkin
Read More

by Nitin Gurmukhani

14 Apr 2024

Career Options for Mathematics Students: Top 13 Career Opportunities in India
64343
Summary: In this article, you will learn about the Top 13 Career Opportunities in India for Mathematics Students. Take a glimpse below. Professor
Read More

by Kamal Jacob

14 Apr 2024

Top 25 Highest Paying Jobs in India [2024] – Latest & Trending
2189523
Summary: Professions / Jobs Average Salary 2024 Highest Salary 2024 Medical Professionals ₹10 Lakhs ₹17 Lakhs Data Scientist ₹9.5 Lakh
Read More

by Nitin Gurmukhani

13 Apr 2024

Top 8 Highest Paying Jobs in India in Arts Field [A Complete Report]
908592
Introduction:  Having spent years navigating the intricacies of the Indian job market, I’ve witnessed a shift in perception regarding careers i
Read More

by Dilip Guru

12 Apr 2024

Top 7 Jobs in Demand in 2024 [And How to Prepare Yourself?]
899825
Thanks to demographic changes and technological advancements, the job landscape has shifted considerably across the globe. In the coming years, new jo
Read More

by upGrad

05 Mar 2024

Schedule 1:1 free counsellingTalk to Career Expert
icon
footer sticky close icon