(ANI): According to Great Learning’s newly released ‘Upskilling Trends Report 2024-25,’ 85 percent of professionals in India plan to invest in upskilling initiatives in the fiscal year 2025 (FY25).
The report reveals a decline in job retention confidence among Indian professionals, which has dropped to 62 percent from 71 percent the previous year.
This decrease is largely attributed to widespread tech disruptions and challenging macroeconomic conditions.
The uncertainty is more pronounced among entry-level professionals, with only 29 percent expressing confidence in retaining their jobs in FY25.
This trend mirrors broader industry data, such as the Naukri JobSpeak Index, which reported an 11 percent year-over-year drop in job openings in March 2024.
Upskilling is particularly crucial for seasoned professionals, with 92 percent of those with over 17 years of experience recognising its importance.
However, the trend is not confined to veterans; freshers and entry-level professionals are also increasingly aware of the need to upgrade their skills.
This year, 83 percent of freshers intend to upskill, an eight percentage point increase from FY24. This surge in demand for upskilling among newcomers aligns with Great Learning’s observation of an 18 percent rise in upskilling initiatives for professionals with 0-3 years of experience in FY24.
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Data science, artificial intelligence (AI), and machine learning (ML) have emerged as the top domains for upskilling among Indian professionals.
These fields are closely followed by software development and digital marketing. These preferences reflect a broader trend towards roles that are not only in high demand but also critical for driving future technological innovation.
Hiring partners also identified these domains as the top areas where enterprises plan to recruit in FY25.
Geographically, Bangalore and Chennai lead the upskilling charge, with 87 per cent of professionals in these cities planning to invest in upskilling in FY25.
Sector-wise, professionals from manufacturing, engineering, capital goods, and BFSI displayed the highest intent to upskill, driven by the need to keep pace with evolving industry standards and technological advancements.
The primary motivation for upskilling among professionals is career growth within their current organisation, as indicated by 39 per cent of the respondents.
This is followed by personal interest (17 percent) and the fear of skills becoming outdated (15 percent). Meeting employer expectations is another significant motivator, cited by 13 percent of professionals.
Despite the strong intent to upskill, professionals face several challenges in pursuing further education.
The most significant barrier is being too busy with work, as reported by 34 percent of the respondents. Financial constraints and family commitments were also cited as major hurdles by 19 percent and 14 percent of professionals, respectively.
Hari Krishnan Nair, co-founder of Great Learning, emphasised the importance of continuous learning in today’s volatile economic environment.
Nair said, “Since last year, challenging economic conditions and an unstable geopolitical situation have made it difficult for many businesses to access capital and expand profitably. To stay competitive in this dynamic environment, continuous learning and upskilling are crucial to adapt and evolve.
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