85% Indian Professionals Set To Invest In Upskilling For FY25: Report

85% Indian Professionals Set To Invest In Upskilling For FY25: Report

The report reveals a decline in job retention confidence among Indian professionals, which has dropped to 62 per cent from 71 per cent the previous year.

ANIUpdated: Tuesday, June 25, 2024, 11:56 AM IST
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According to Great Learning's newly released 'Upskilling Trends Report 2024-25,' 85 per cent of professionals in India plan to invest in upskilling initiatives in the fiscal year 2025 (FY25).

The report reveals a decline in job retention confidence among Indian professionals, which has dropped to 62 per cent from 71 per cent the previous year.

This decrease is largely attributed to widespread tech disruptions and challenging macroeconomic conditions.

The uncertainty is more pronounced among entry-level professionals, with only 29 per cent expressing confidence in retaining their jobs in FY25.

This trend mirrors broader industry data, such as the Naukri JobSpeak Index, which reported an 11 per cent year-over-year drop in job openings in March 2024.

Upskilling is particularly crucial for seasoned professionals, with 92 per cent of those with over 17 years of experience recognising its importance.

However, the trend is not confined to veterans; freshers and entry-level professionals are also increasingly aware of the need to upgrade their skills.

Data science, artificial intelligence (AI), and machine learning (ML) have emerged as the top domains for upskilling among Indian professionals.

Data science, artificial intelligence (AI), and machine learning (ML) have emerged as the top domains for upskilling among Indian professionals. | File

AI, Machine Learning In Focus

This year, 83 per cent of freshers intend to upskill, an eight percentage point increase from FY24. This surge in demand for upskilling among newcomers aligns with Great Learning's observation of an 18 per cent rise in upskilling initiatives for professionals with 0-3 years of experience in FY24.

Data science, artificial intelligence (AI), and machine learning (ML) have emerged as the top domains for upskilling among Indian professionals.

These fields are closely followed by software development and digital marketing. These preferences reflect a broader trend towards roles that are not only in high demand but also critical for driving future technological innovation.

Hiring partners also identified these domains as the top areas where enterprises plan to recruit in FY25.

Geographically, Bangalore and Chennai lead the upskilling charge, with 87 per cent of professionals in these cities planning to invest in upskilling in FY25.

Sector-wise, professionals from manufacturing, engineering, capital goods, and BFSI displayed the highest intent to upskill, driven by the need to keep pace with evolving industry standards and technological advancements.

The primary motivation for upskilling among professionals is career growth within their current organisation, as indicated by 39 per cent of the respondents.

This is followed by personal interest (17 per cent) and the fear of skills becoming outdated (15 per cent). Meeting employer expectations is another significant motivator, cited by 13 per cent of professionals.

Despite the strong intent to upskill, professionals face several challenges in pursuing further education.

Nair said,

Nair said, "Since last year, challenging economic conditions and an unstable geopolitical situation have made it difficult for many businesses to access capital and expand profitably. To stay competitive in this dynamic environment, continuous learning and upskilling are crucial to adapt and evolve. | Pixabay

Government Initiatives Amplify Upskilling

The most significant barrier is being too busy with work, reported by 34 per cent of the respondents. Financial constraints and family commitments were also cited as major hurdles by 19 per cent and 14 per cent of professionals, respectively.

Hari Krishnan Nair, co-founder of Great Learning, emphasised the importance of continuous learning in today's volatile economic environment.

Nair said, "Since last year, challenging economic conditions and an unstable geopolitical situation have made it difficult for many businesses to access capital and expand profitably. To stay competitive in this dynamic environment, continuous learning and upskilling are crucial to adapt and evolve.

It is encouraging to see professionals adopting a proactive approach to navigate this disruption by acquiring specialised skills to meet evolving employer demands." He further said, "Government initiatives aimed at promoting skill development have further amplified this awareness. Through the Upskilling Trends Report 2024-25, our objective is to help learners, professionals and companies with valuable insights, empowering them to strategize effectively for FY25.

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