The new era of employability-focused courses is here

Even before the pandemic rendered us catatonic, remote working had slowly begun to gain currency. However, COVID-19 has made it starkly clear that telecommuting is going nowhere. According to a recent CFO survey by Gartner, it was found that ~75% of all CFOS plan to move ~5% of their on-site personnel to remote working positions. Although it is said that ‘experience is the best teacher’, we are still quite underprepared to tackle the problem. As long as the workforce works remotely the upskilling problem will continue to persist.

The learning curve for companies has changed as managers strive to figure out how to lead and motivate their teams virtually. The personal touch has been completely lost and the same cohesion needs to be maintained now without the informal coffee or a team lunch. As organizations mull over the possibility of returning to their workplaces shortly, a new set of skills is about to emerge that their businesses will heavily rely upon. If the workforce is not prepared by then, the transition could become extremely difficult.

As technology continues to advance and drive changes in the way we work, institutions must keep pace and alter their approach towards education. Curricula have to be relooked at and revised to suit the needs of the industry such that students are ready to take on responsibilities when they graduate. The disruptions are coming and it is time to become focused on employability rather than simply qualification.

The World Economic Forum has published data that indicates ~85 million jobs will be wiped out of the picture when automation fully kicks in by 2025. On the flip side, according to Microsoft, digital transformation will also lead to the creation of an additional ~149 million jobs, each demanding specific skillsets. Both estimations are indicative of a large-scale disruption which we must be prepared to tackle at the earliest.

The learning landscape is rapidly evolving as industries undergo a metamorphic phase.

Teaching newer skills to employees is beginning to take centre stage. While industries are metamorphosing, candidates and students are witnessing a multi-faceted disruption being propelled by a remoteworking culture and the onset of automation. An employability gap is becoming more and more evident as a mass digitisation drive grips all industries. The emergence of newer and more capable technologies is frequent and fastpaced creating a shortfall in the number of skilled trainers. Consequently, in order to bridge the skill gap among candidates and students, the skill gap at the trainers’ level must be closed.

Organizations need to quickly zero in on the skills that will drive their business recovery plans. Certain skill pools are very likely to overtake the rest and drive the growth of organizations with greater intensity. These crucial value drivers are currently being mapped by most companies in order to accelerate the bounce-back pace. Newer roles that open up will demand a significant value addition through the use of these skills which will require an up-skilled talent pool.

Educators are assessing these value shifts and tailoring courses to create a potential workforce of future-ready candidates. Identifying these trends and future requirements is a challenging task and educators are taking it in their stride. While a career-focused education does make candidates qualified, it does not make them employable. Experts are of the opinion that the development of core competencies must take precedence and should therefore be integrated into university curricula.

Having said that, digital capabilities must also be learnt and honed. Ironically, in the new normal, going back to basics is important too. Communication, self-awareness, teamwork and social responsibility are the key traits that employers shall be on the lookout for and that is not exactly new. As cliched as it may sound, these qualities are an integral part of any organization’s growth story and must therefore be nurtured.

With the technologies and resources available at the disposal of institutions, industries can join hands with them and hammer out a curriculum that is specifically tailored for corporates. Educators may even partner with leading organizations and offer industry-certified training to students and candidates. The academic tie-up will not only establish the value of the skills in demand, but also the worthiness of the curriculum.

While we are cognizant of the challenges being faced by educators, industries and institutions, one minor problem remains to be addressed. Candidates or

students may find themselves in a situation wherein access to financial resources becomes a daunting task amid these distressful times. This shortfall has been identified as one of the leading causes of a slower up-skilling program in India.

To address this problem, a few institution offers learners a chance to enter the Income Sharing Agreement (ISA), wherein students are not required to shell out the entire fee amount before they enrol. It is a unique arrangement in which we invest in up-skilling the learners and only begin to charge them once they have a secured source of income resulting from their newly imbibed skills. This keeps them focused on learning rather than financial burdens.

Initiatives like these have the potential to accelerate the economic growth of the country as they contribute towards the rapid creation of an industryready workforce. While the world wrestles with the up-skilling dilemma, we must rise to the occasion and work on a recovery plan through such programs.

WITH THE AVAILABLE TECH, INDUSTRIES CAN JOIN HANDS WITH EDUCATIONAL INSTITUTIONS TO CREATE A JOINT CURRICULUM