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Budget 2022: Why do we need to reimagine skilling in this budget?

According to statistics only 12% of the workforce is digitally skilled. We also have 10 – 12 million youth entering the workforce on an annual basis. So how can this issue be resolved at the earliest?

Budget 2022, upcoming budget, jobs in 2022, digital skills, digitally skilled workforce, India jobs
In the present day, the Indian workforce witnessed a yawning gap between the employer and the employee owing to the lack of skill.

By Girish Singhania

The Aim
Budget 2022, is going to lay emphasis on the ambitious target of making India a $10 trillion economy. The daunting dream could become a pleasant reality if industries digitally synthesise themselves, and accord to the advancing technological climate.

The issue

In the present day, the Indian workforce witnessed a yawning gap between the employer and the employee owing to the lack of skill. The need for digital literacy was underlined in the pre-covid era, and has become more pronounced as the pandemic was coupled with the fourth digital revolution. According to statistics only 12% of the workforce is digitally skilled. We also have 10 – 12 million youth entering the workforce on an annual basis. So how can this issue be resolved at the earliest?

The Solution
Restructuring the Hiring Process

Experts across industries have tried to recalibrate a winning blueprint in lieu of skilling the youth and absorbing them into the workforce. This was done by employing sophisticated technology like Data Analytics and AI, to understand the growing profile requirements by enterprises. This discards the old-school methodology of referrals and generic employment tactics.

The EdTech Route
If the skilling efforts were decentralised, EdTech companies could emerge as the panacea for growing expectations of a digitally literate workforce. Localised EdTech bodies, would make it easier for enterprises to enlist workforce demands. EdTech companies can co-create a suitable course pedagogy in conjunction with enterprises to accord with the ethos of the company. The load of training learners in large volumes will wean from the enterprises L&D department, saving them loads on training cost. By doing this, companies can avail of a ready stack of professionals that could join the workforce with immediate effect upon conclusion of the course. The advantage of working with EdTech companies is, instructions will not only involve instruction of domain skills; but will assist learners at applying skills in a practical environment, by delivering them to real-life situations that they could meet with at their work-place.

Hybrid Working models

Technology has enabled teams to break through boundaries. This has given enterprise’s an impetus to employ hybrid teams that can resourcefully employ their skills to add to the company’s profitability, and enliven the country’s near failing economic climate.

Evolving requirements of an employee

Today’s employees would prefer working in a dynamic environment that fosters growth. The working pedagogy would involve a marriage of new-age technology with unfailing old-school insights. Employees look forward to working in an environment, whereby they learn alongside applying their skills, in a globally advancing environment. Employees too are very demanding of the deconstruction of the obsolete methods of working.

(The author is CEO of EduBridge. Views expressed are personal and do not reflect the official position or policy of the Financial Express Online.)

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