How apprenticeships align training with job opportunities

By Sumit Kumar

In the vast ocean of opportunities that is the job market, it’s as if a myriad of ships set sail. However, not all of them are truly prepared to navigate the waves and embrace the full potential of this expansive ocean. Some ships remain anchored, unable to harness the opportunities that lie beyond the horizon, while others find themselves adrift without the skills to steer their course confidently.

Amidst this maritime analogy, Degree Apprenticeships emerge as the guiding beacons that help transform individuals into seaworthy vessels, well-prepared to sail with skills and majestic confidence in the ever-changing job world. These apprenticeships provide the training and expertise needed to equip aspiring professionals with the tools to navigate the complexities of the job market. Through this transformation, individuals become like ships, now ready to set sail, harness the winds of opportunity, and chart their course with competence and assurance.

Shaping tomorrow’s workforce with apprenticeships

In India, where the labour market ranks second in size only to China, a sweeping transformation is in progress, yet it brings to the forefront a formidable challenge—the widening skills gap. This challenge is underscored by a stark statistic: a remarkable 69% of jobs in India are under the imminent threat of automation. Nearly seven out of every ten jobs now cast a wary eye on the looming shadow of technology-driven disruption. The urgency to address this issue is unmistakable as businesses scramble to adapt to this evolving landscape, unveiling a glaring skills deficit that demands immediate attention.

Bridging the talent gap with apprenticeships

In a vast labour market, second in size only to China, India grapples with a pressing challenge: a widening skills gap. With 69% of jobs threatened by automation and a talent demand-supply gap expected to increase 3.5 times by 2026, there is an urgent need to realign the country’s education system, which is currently ‘qualification skewed.’ A mere 4% of the labour force is formally trained, leaving half of Indian youth unemployable. Companies face a multitude of challenges, with 75% dealing with skill gaps, 54% facing productivity concerns, and 45% troubled by high hiring costs. Traditional talent acquisition models are becoming more costly and time-consuming. To address these issues and harness India’s demographic advantage, investments in work-based learning solutions like apprenticeships are critical. These apprenticeships create a bridge between education and skilling, catering to the ever-evolving demands of industries.

Building a highly-trained talent pool

Apprenticeships go beyond traditional education models by emphasising learning by doing, earning while learning, and flexibility. These programmes create an ecosystem that fosters talent engagement, loyalty, and reduced attrition rates (by 10%-25%). Degree Apprenticeships, in particular, are evolving as the future of higher education and education linkage. They provide modular, flexible, and socially valuable learning experiences. The result is a workforce uplifted with the skills and confidence to navigate the complex job market and, in the process, uplift communities, enhance socio-economic growth, and drive employability and career advancement for the youth.

The economic impact of skills development

The integration of new skill sets, such as AI, robotics, data science, and green skills, can significantly impact India’s economy, potentially increasing it by $570 billion by 2030. Apprenticeships play a vital role in developing these skills, meeting industry demands, and creating a sustainable talent supply chain. They offer an effective way to engage and nurture a highly skilled workforce. Apprenticeships also serve as a valuable link between higher education and job readiness, making them an essential investment for employers seeking to address skill gaps while optimizing their training investments.

The surging adoption of apprenticeships

The last 2–3 years have witnessed a remarkable surge in apprenticeship adoption. The number of organisations onboarding apprenticeships has nearly doubled from 3.5 lakhs to 7 lakhs. The count of establishments actively engaging in apprentices has increased from 22,000 to 40,000, and registered organisations in the apprenticeship pool have risen from 1,20,000 to 1,70,000. This momentum is fueled by a recognition among industry leaders, with 65% of senior HR leaders acknowledging apprenticeships as a key Talent Development Strategy. An overwhelming 42% of respondents highlight the remarkable cost-effectiveness of creating talent through apprenticeships compared to conventional talent acquisition methods. This surge serves as a compelling incentive for businesses to embrace apprenticeships as a strategic approach to talent development.

Degree Apprenticeships – India’s beacon of employability in the 21st century

Degree apprenticeships have emerged as a transformative force, bridging the gap between traditional education and the demands of the modern workforce. Over 92% of universities and higher education institutes (HEIs) in India recognise the value of degree apprenticeships, acknowledging their superior benefits for university students.

In response to these innovative programmes, there has been a significant surge in the demand for apprentices in India. It is projected that India will witness a remarkable increase in the number of apprentices, with over 10 million expected to join the workforce in the next five years. This shift is a clear indication that the apprenticeship ecosystem in India is evolving. In a landscape where only 35% of graduates are deemed employable, apprenticeships have emerged as a sustainable solution for creating a cycle of learning. Students can now earn while they learn, making them more job-ready and relevant to the industry.

How apprenticeships align training with job opportunities

Apprenticeships go beyond traditional education models by emphasising learning by doing, earning while learning and flexibility.