The report is based on profiling and surveying learners across India who attended Great Learning’s programs last year. For its Upskilling Outlook 2023, Great Learning surveyed 1,000 professionals from diverse backgrounds and recent college graduates working in India. The enterprise trends in this report come from Great Learning’s business clients based in India. Enterprise Training Outlook is also provided based on conversations with the same clients.
2023 Skill Upgradation Vision
Compared to 2022, 83 percent of Indians intend to upskill, with upskilling increasing in 2023, the report said.
Intent to upskill among Indians has increased by 4 percent over the previous year. 79% of professionals plan to upskill in 2022, in 2023, that number has risen to 83%. Interest in upskilling is higher among men than women, with 83% of male and 80% of female professionals interested in upskilling, the survey report said.
The IT/Tech and BFSI sectors have the highest proportion of workforce projected to upskill in 2023, followed by education/training, manufacturing and automobile industries. Indians are mainly seeking top skills in software development, data science and analytics, digital marketing, management and AIML domains.
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While professionals with less than 3 years of experience are primarily looking to acquire software development skills, professionals with more than 9 years of experience are focusing on acquiring management and leadership skills. In 2023, the primary motivation for Indians to upskill is career growth within their current organization. It is said to follow the prospect of new job opportunities as a result of personal interest and enhanced skills.
Upskilling has benefited 85 percent of professionals’ careers by getting a new job or career development within the same organization or by changing job domains.
Upskilling is a necessity for working professionals today to advance their careers and the ROI of these efforts is an important consideration. It is not just about acquiring new skills for the sake of learning, as efforts to upgrade these skills should result in tangible professionalism. Professionals are able to transition to new domains with increased skills. Upskilling helps 43% of professionals achieve career growth in their own organization, enables 23% to switch to a different domain and 18% enables them to find a new job.
In 2022, the survey found that most women with less than 8 years of experience have spent time on upskilling.
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Overall, more male professionals enrolled in upskilling programs in 2022. But the gap in representation becomes more pronounced at higher levels of work experience. This is lower than general industry trends in female representation in senior positions.
Advanced skills at higher levels require a considerable time and effort commitment, and senior female professionals lack the confidence to undertake such a commitment alongside their other responsibilities.
In 2022, the top domain where learners developed skills was data science.
Data literacy is an integral part of business, so it’s no surprise that data science has been the most sought-after domain for skill development among professionals over the past year. After that there are software engineering and management. AI and machine learning and cloud computing programs are popular among professionals with more than 8 years of work experience. Data science, software engineering and management programs are mostly sought by entry-level professionals with 0-5 years of work experience. Professionals of all work experience levels want cybersecurity. With automation set to displace 85 million jobs globally by 2025, many Indian professionals are opting to learn new digital technologies to stay relevant. Increased salaries, greater professional growth and the prospect of acquiring additional technical expertise have pushed professionals to upskill in new-age domains.
71 percent of professionals in India are confident of retaining their jobs in 2023 despite overall economic slowdown
71 percent of professionals in India were confident of retaining their jobs in 2023 despite macroeconomic conditions. Another interesting thing to note is the stark difference in confidence levels of freshers and entry-level professionals and those with more than 6 years of experience. While 63% of professionals with 0-3 years of experience are confident of keeping their jobs, this number jumps to 83% for professionals with 6+ years of experience.
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Trends in Upskilling – An Enterprise Perspective
82 percent of learning and development budgets by companies are spent on training freshers.
Employee training has evolved into an essential growth engine driving businesses today. Organizations are encouraging employees of all experience levels, from freshers to CXOs, to upskill and reskill, specifically to improve efficiency in the business. The objective behind this is to gain business efficiency through existing workforce rather than incurring high costs in hiring additional human resources.
A significant amount of investment is being used to train new graduates for additional skills not in the college curriculum. Initiatives for middle- and senior-level executives focus on data-driven decision-making and technical training to help them keep pace with market trends, the survey said.
Speaking about the report, Hari Krishnan Nair, Co-Founder, Great Learning, said, “With a tight job market in 2023, skill development will be as critical as ever. As technology and business practices evolve, the intent to upskill professionals is expected to increase in 2023. ‘Global Upskilling Outlook 2023’ , provides a high-level overview of skills gaps and market trends for students and professionals to learn relevant new age skills and grow in their careers. It provides L&D and business unit heads with an introduction to how other industries are upskilling their workforce, to understand what motivates people to upskill, and It helps shape a strategic approach to future-proofing the organization based on trends and their impacts across geographies and industries.”