A host of factors has dramatically driven tech companies’ growth and business mechanisms. These forces heightened the need for additional skilled talent and technology-oriented support teams globally.
Recruiting is critical to meeting this demand. But upskilling dedicated to current talent is also a key initiative. Upskilling allows employees to enhance their knowledge base, freshen up their hard and soft skills, advance their careers within a firm, and showcase their desire to support their company’s future needs. At the same time, upskilling allows employers to leverage current proven talent, support them in career advancement goals and, in many cases, prevent them from existing for greener pastures.
As per NASCOMM, India’s tech talent pool stands at 3.8M in FY2021, representing over 80% of the 4.7M tech industry employee base. Skills development has been considered one of the critical aspects for job creation in India. It makes sense for companies to tap into the unexposed talent pool in rural areas and make the IT sector more inclusive while improving employability. Industrialists and entrepreneurs are eagerly contributing to the development of new-age skills. Data shows about 800,000 people have been re-skilled last year as compared to about 600,000 the year before. The IT industry in India spends about 1% to 1.5% in reskilling employees.
Self-assessment
This story is from the November 2022 edition of People Matters.
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This story is from the November 2022 edition of People Matters.
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