With rising inflation rates, job layoffs and salary cuts, Indians, who are currently spending mainly on essential items, continue to hold education in high regard, found the latest study released today by Emeritus, a global leader in world-class professional education. According to the Emeritus Global Workplace Skills Study 2023, 82% of Indians surveyed have increased interest in online education under the current macroeconomic conditions. They believe that upskilling will enable them to stand out in the job market and provide more significant career opportunities. This study was conducted by Emeritus through its extensive survey of 6,600 professionals aged between 21 and 65 across 18 countries, including India, the US, China, the UK, Brazil, Mexico, and UAE, among others, to understand how the global workforce is leveraging online education to navigate through uncertain times.
The study found that an overwhelming 73% of Indians are more interested in pursuing further education due to recent global developments. Data analysed by the survey showcased a more substantial interest in upskilling among Indians in the current climate, compared to the worldwide average of 55%. One in every two Indian professionals surveyed also emphatically said that they are willing to spend more on education for themselves, their children or family.
The third edition of the Emeritus Global Workplace Skills Study 2023 depicted that even as 2 in 3 Indians approached household spending with caution by spending primarily on healthcare, medicine and groceries, Indians perceive education as a necessary and worthwhile investment for career growth. Below are a few other key findings from the study on how and why Indians are choosing to upskill themselves:
- 84% of Indians agree that pursuing further education will give them an edge to compete better against their peers
- Indians are willing to pay for online education. 94% of Indians consider a paid online programme format for continued learning and upskilling
- 86% of Indian professionals also said that a high-quality upskilling programme would allow them to achieve their career-related goals.
Announcing the launch of the Emeritus Global Workplace Skills Study 2023, Mohan Kannegal, CEO of India and APAC, Emeritus, said:
The global workforce is currently battling several challenges to stay relevant – from technological disruptions to economic uncertainties. We understand from our Indian learners that education is a top priority, and interest in online learning continues to grow. Being at the forefront of making high-quality education accessible and affordable for all, we at Emeritus are dedicated to bringing online education to more learners nationwide. The study reaffirms our belief that education plays a crucial role in shaping the future of work.
The surveyed Indian professionals hailed from diverse sectors such as software and IT services, finance, insurance, education, manufacturing, technology and innovation, healthcare, engineering and construction, and retail. The median age of the respondents was 39, with an average work experience of 12 years. Some of the other upskilling trends observed among these professionals include:
- Indians look to education for confidence & safety net: As many as 86% of the professionals surveyed agreed that further education was hugely helpful in building their skills. And felt that further education helped them build increased engagement at work. Indians stated ‘increasing job security’ as one of the key motivations to pursue further education besides promotions and career advancement. Indians embrace the concept of life-long learning and agree that learning helps them feel confident, creative and inspired to develop personally and professionally.
- Upskilling to stand out in the job market: The study found that pursuing further education is directly related to achieving career advancements for Indians, with professionals looking at education as a path to becoming more qualified to get to a new role, be promoted or even switch careers.
- Online learning to rule the future: Most Indians agree that online education adoption can grow in the country. Respondents, however, said that learning online has brought them many possibilities, such as enrolling at universities abroad and less expensive options to meet their learning needs, etc. 9 in 10 Indians strongly believed that online learning adoption is set to increase soon, with technology continuing to emerge.
- Creating organisational impact: Indians are increasingly looking to work at companies that offer educational benefits. Nearly 9 in 10 respondents work with companies that provide upskilling opportunities. Two-thirds have witnessed increased employee contribution in the past year to their organisations due to continued education.
Emeritus partners with top-tier universities across the United States, Europe, Latin America, India and China to bring world-class business and professional education to a global audience. The company has collaborated with more than 55 universities to date, including MIT, Columbia, Harvard, Cambridge, INSEAD, Wharton, UC Berkeley, INCAE, IIT, IIM, ISB, NUS and HKUST, launching more than 100 courses and serving students from more than 160 countries. Many courses are offered and facilitated in multiple languages, including Spanish, Portuguese and Mandarin.
The startup’s world-class executive education programmes, supported by eminent programme experts, provide an immersive learning experience integrated with actionable insights and practical business applications. It has more than 1,750 employees globally and offices in Mumbai, New Delhi, Shanghai, Singapore, Palo Alto, Mexico City, New York, Boston, London, and Dubai. Emeritus is backed by The Chan Zuckerberg Initiative, Leeds Illuminate, Prosus Ventures, Sequoia Capital India, Bertelsmann, Accel and SoftBank Vision Fund 2.
