A report released by India Skills Report 2018, has revealed that the percentage of the employable population has seen an increase of 5.6%, from 33 per cent in 2014 to 45.06 per cent this year. The domains where the increase in employability has been seen are: Engineering, Pharma, MCA and other focused professional courses. It has also been noted that employability amongst the fresh talent has increased significantly in the past 5 years. Nirmal Singh, Founder, and CEO of Wheebox said India Skills Report findings this year has seen an improvement in employability which is a good sign for the economy. The Govt. efforts towards skill development, especially in higher and vocational training institutions, are paving the way for quality hiring. Moreover, the efforts from the government & institutions are showing a positive trend. He further added, new career opportunity like AI, Robotics and data analytics are indicating an upward trend for these sectors.
Pankaj Bansal, Co-founder and CEO of PeopleStrong, said “We as a country are undergoing a phase of upward transition as we embrace the impact of digitization and automation in our lives. A lot of effort is needed both at the talent supply side and the demand side to ensure we complete this phase with flying colors. What is reassuring is that our analytics show we are definitely on the right track“. Another important point to notice – As there has been an exponential increase in the number of MBA colleges, the quality of talent is seen to be declining.
However, from the demand side, there is a positive change as companies have shown the sign of revival in their hiring intent. As per the India Hiring Intent survey, “organizations across sectors expect 10-15% increase in hiring intent from last year to this year. While Retail, Banking, Financial Services and Insurance sectors are anticipating an increase in the pace of hiring. Sectors like ITES, Software, Hardware and IT also foresee a moderate change in hiring numbers.” India Skills Report 2018 is a joint initiative by PeopleStrong, a leading HR Tech Company and Wheebox, a Global Talent Assessment Company in collaboration with the Confederation of Indian Industry (CII).