upGrad, a company specialising in skilling and workforce development, has released the first volume of its India Career Upskilling Report. Developed by upGrad Insights, an internal division focused on discerning industry trends through independent surveys, the report gathers perspectives from more than 3,500 white-collar professionals in Urban India, according to an official release.
It provides valuable insights into trends related to appraisals, promotions and market opportunities, particularly following a career hiatus. Additionally, the report presents a notable comparison between self-initiated and company-sponsored learning, as well as skill-based training, the release mentioned.
The key findings of the study reveal several noteworthy trends. Professionals who dedicated time to upskilling over the last three-five years experienced remarkable outcomes, witnessing a 2.5-fold increase in performance appraisals and a 2.3-fold rise in the frequency of promotions. The advantages of upskilling extended beyond mere financial gains, with a 1.7-fold improvement in job security observed. Women who engaged in upskilling reported enhanced ease in returning to work after a hiatus, coupled with a substantial 4.8-fold improvement in career stability, the report reveals.
“Upskilling, unlike yesteryears, has now become a clear driver of growth in our industry and this report is the reflection of what India’s corporate ecosystem collectively, continues to achieve. The genesis of the report stems from the evolving learning patterns emerging out of metros and non-metros, signifying a wider adoption amongst senior professionals and parents who are realising that lifelong learning is the key to long-term success,” Mayank Kumar, co-founder, MD, upGrad, said.
The study also highlighted the prevalence of upskilling among parents, as two-thirds of upskilled professionals were found to be parents, indicating a higher rate of upskilling within the working parent demographic. Notably, 48% of individuals opted to self-sponsor their upskilling journeys, focusing primarily on technical skills (61%), online courses (55%) and professional certifications (35%).
When it comes to employer-sponsored training, the emphasis is predominantly on industry-specific training (64%) and the development of soft skills (55%). Additionally, individuals who pursued upskilling in the past three-five years exhibited a remarkable commitment to their new careers, staying six times longer in these roles compared to their non-upskilled counterparts, the report revealed.