The ongoing technological disruptions continue to reshape the world of work, and it is evident in the evolved nature of job requirements, compelling millions to embrace upskilling for professional growth.
There is one dynamic force that can empower working professionals, students and newcomers alike, and that is constant learning. The good thing about learning is that no one can take it away from you, and to accept the evolution of work and thrive in it, upskilling is the answer.
To understand the impact of upskilling in one’s career, UpGrad carried out a comprehensive survey to shed light on the importance of upskilling and how it has benefitted people, and the results were eye-opening!
The survey was conducted amongst 3500+ pan-India respondents, primarily coming out of the urban corporate ecosystem. The findings of the India Career Upskilling Report highlight the key trends in appraisals, promotions, and market opportunities after a career sabbatical while also drawing a stark comparison between self and company-sponsored learning and skill-based training. It further discusses how corporations today see workforce development as an essential training & retention tool.
Returning to work after a break was a rollercoaster of emotions. I’ll be honest; I felt a bit like a stranger in my old work environment after a break of almost 4 years. But the course helped me ease back in and find my footing. It wasn’t just about getting up to speed; it was about regaining my confidence and feeling like I belonged. – Maitreyi, 36, Brand Manager, Advertising, Mumbai
Key observations from the survey
- 3 out of 5 upskilled professionals get promoted annually, while only 1 out of 5 who don’t upskill achieve the same. Remarkably, over the previous five years, 23% of professionals who were not upskilled had a protracted period of career stagnation without receiving any promotions.
- Career transitions can trigger apprehension since the unknown of a new career casts doubt on its fit. Upskilling not only helps people identify and understand their primary areas of interest for their professions, but it also makes it easier for them to transition into other fields. The influence of upskilling on lowering confusion and uncertainty is seen by the striking difference in average duration post-career pivot: 33.5 months for those who have upskilled against a mere 5.5 months for those who haven’t. Furthermore, upskilled individuals typically obtain better compensation packages after changing careers.
- Upskilled women had a 2.1x greater chance of starting over at the same or better wage.
- Upskilling on one’s own is linked to changing careers, whereas employer-sponsored programmes are linked to advancement and development within the same organisation.
- Businesses now understand the value of workforce development and devote significant funds to helping staff members become more skilled. This strategic commitment demonstrates their commitment to developing a workforce that is both competitive and talented, which will eventually spur development and innovation inside the company.
You know, in these times of layoffs, having a good grip on my field has been a lifesaver. When you’re the go-to person for insights and solutions, you’re not as vulnerable. Staying updated keeps you nimble, and in these shaky times, that’s gold. So, my two cents? Keep learning —it’s not just about growth but also staying steady in the storm. – Rohan, 36, Senior Engineering Manager, ITeS, Bengaluru
UpGrad is Asia’s leading integrated learning, skilling, and workforce development company, founded in 2015. upGrad’s portfolio spans the extensive higher-ed and skilling value chain encompassing online and hybrid degree programs, pathways, study abroad programs, certifications, boot camps, diplomas, and master’s and executive doctorate programs for fresh and seasoned professionals alike. Born with a strong DNA of developing industry-ready curricula and world-class educational pedagogy, what sets upGrad apart is its commitment to facilitating career growth for its learners.
Download the report here.