By Ashish Fernando
Technology is revolutionizing every sector, ramping up the demand for people with particular skills. Moreover, the pandemic accelerated this movement and drastically changed the employment market. As a result, students, especially study abroad aspirants, are inclined toward pursuing skill-based courses to be relevant in today’s market. The Redseer Survey in India states that 70% of study abroad applicants are opting for specialized/skill-based courses, while the remaining 30% are going for the general ones. Students are garnering the relevant skills by applying to universities offering such courses for a better career.
But why is there such a substantial increase in the number of people enrolling in skill-based courses?
Why the rise in skill-based courses?
Gone are the days when employers looked at the number of years of experience for hiring people. Today, skills have taken over traditional hiring criteria, breaking old conventions. Skill-based hiring involves hiring employees based on their competencies as the primary criteria. These can range from soft skills to technical, cognitive, etc., as per the job requirements.
Today, organizations need people who can get work done and thrive. A recent LinkedIn report shows a 21% increase in job openings posting about advertising skills and responsibilities instead of degrees and qualifications.
Organizations can hire from a wider talent pool by switching to skill-based hiring. Not only this, but they can also make their workspace diverse and inclusive as skill testing helps organizations overcome unconscious bias.
Today, 69% of companies value learning agility and curiosity over career history and experience when it comes to hiring. Besides, employers are giving importance to soft skills along with hard skills.
They are also leaving no stone unturned to bridge the talent gap by introducing skill assessments. Adding a series of questions helps them make a level playing field for all the candidates and evaluate their capabilities in an unbiased manner.
Why is skill-based education the need of the hour?
The digital world is bringing in some rapid changes, and youth can no longer fit into the traditional education system. Bootcamps and online courses have become the new normal as students are moving towards upskilling themselves to meet today’s job requirements. For example, the number of coding boot camps has increased 10X in popularity between 2013 and 2020, and the number is still growing.
There are myriad reasons why the skill-based courses are creating a spur. These courses enhance creativity in students with critical thinking abilities, which is needed in almost every industry today. This kind of education is a bit more engaging than typical knowledge-based courses as it allows students to evaluate and apply facts to the real world.
Every organization needs team players, and these courses enhance collaboration, which is one of the most in-demand skills today. Students also get an opportunity to connect with like-minded people, explore different domains and find a niche for themselves.
The road ahead
There’s no denying that formal education has helped students grow. However, times are changing, and educational institutions are reconsidering their teaching process and the deliverables they offer students to help them thrive in this cut-throat world. As per the Future of Trends report 2022, 50% of employees will need reskilling by 2025. The foreign universities have tapped into the demand for skill-based learning and are providing various courses. These courses are definitely going to define the job market by filling the talent gap.
(The author is CEO & Founder, iSchoolConnect. Views expressed are personal and do not reflect the official position or policy of the FinancialExpress.com.)