TeamLease EdTech, learning solutions company, from the house of TeamLease Services, today launched their survey “Impact of Upskilling on Performance Management”, a detailed survey analysing how up-skilling has impacted performance management and growth opportunities for employees. Conducted with 1000+ employees from across 11 sectors, as per the report, about 53 percent of the employees felt that taking up upskilling has influenced their salary hike. Not only this, a significant percentage of employees felt that they were able to shift to better job roles because of upskilling.
Around 84 percent of respondents echoed that the upskilling initiatives has helped them get better job/position. Interestingly, 54.3 percent respondents chose their upskilling courses basis industry trends, reducing the dependency on employer, friends or self-research clearly indicating a shift towards acceptance to continuously upskill to be future proof.
Shantanu Rooj, Founder and CEO, TeamLease EdTech, said, “More than 75 percent of the employed people whom we surveyed took at least one up-skilling program during the pandemic. There is a clear recognition amongst the employees that investment in upskilling helps being productive and resilient. Majority of the respondents are expecting a sizeable hike owing to the upskilling efforts and 73 percent believe right upskilling does give an aspirant better bargaining power.”
This increased interest amongst employees had been largely influenced by their aspiration to get better opportunities/salary upgrades (23.8 percent), shift to new job roles (19.3 percent), improving technical and soft skills (28.2 percent) and fear of job loss (20 percent). There is a clear interest amongst employed professionals for reskilling and upskilling themselves; people are observing industry trends, doing their own research and are also being advised by their employers while they make their course choices - this is a reflection of the positive shift in the learning ecosystem, where employees are taking ownership of their upskilling and have started moving on the path of lifelong learning.
It is heartening to see that majority of the aspirants (91.8 percent of 48 percent who switched their jobs) got increment in package of up to 35 percent, added Neeti Sharma, Co-Founder and President, TeamLease Edtech.
Deep diving into the growth opportunities that upskilling can create for employees, more than 73 percent of the respondents believe that upskilling leads to better roles. From the 48 percent respondents who shifted to a new job role, 83.6 percent attribute the movement to a better opportunity to their upskilling efforts. Additionally from amongst the 48 percent who switched jobs, 77.5 percent also received a salary hike between 25 percent and 35 percent.
While overall the learning ecosystem has improved, the study also directed that there are still some gaps. From the 25 percent people who did not up-skill, 49 percent, either did not want to invest money or did not think it is necessary, however, 65.7 percent did eventually believe that they missed the opportunity to up-skill and grow in their career. 73 percent of these respondents are planning to focus on learning new skills and the rest focused on domain skills (14 percent), soft skills (8 percent) and technical skills (4.2).
The survey was conducted with 1039 employees across entry, mid and senior levels, from across 11 sectors.