Seventy five per cent of corporate leaders from 150 corporations across more than 15 industries and sectors believe a skill gap exists in their industry, as per the latest India Skills Report. But what further worsens the talent crunch is high unemployability, with only 46.2 per cent of the youth surveyed in the report found to be employable. Furthermore, Mercer’s 2022 Global Talent Trends report highlights that difficulty hiring the right talent, at the right price, in time remains a top concern (71%) in 2022. “An impetus on a skill-based learning outlook with customised learning solutions is what will enable India as the next talent capital of the world,” said Siddharth Banerjee, managing director and senior vice president, Pearson India and Asia.
Banerjee said that the need of the hour is to adapt to change and Pearson is in line with the vision of the future and the evolving demands of today's learners. "We have realigned our focus on three salient verticals - education, employability and global mobility," he added.
He also stated that with a clear focus on skill-based learning, one can expect an unprecedented transformation in the talent pool that India currently has.
It is also to be noted that with the onset of the global pandemic crisis in 2020, virtual education witnessed a big jump in terms of adoption and growth, intensifying the growth of educational technologies globally. The flexibility and convenience to pursue online courses anytime, anywhere learning, bolstered the virtual learning market in India, which is expected to reach Rs 325.48 billion by 2026, expanding at a compound annual growth rate (CAGR) of 17.19 per cent during the 2021-2026 period.
The biggest trend in the education sector currently is personalisation and technology, said Banerjee. "The mega trend is technology enabling hyper-personalisation and flexibility in education. And that's an accelerating trend which will tie up with a fundamental human need of growing, evolving and learning every day," he explained.
Banerjee also added that geography does not play the deciding factor anymore on how education can be imparted and consumed, and hence the potential for the dynamic Indian student ecosystem is vast.
"We have established substantial partnerships with over 7,000 higher education institutions with an emphasis on deep expertise and domain knowledge whether it be entrepreneurship, critical thinking, public relations, pharmaceuticals, or medicine," Banerjee stated.
"Pearson India is harnessing the power of digital excellence to empower progressing and substantial demographics to capitalise on this new distant and hybrid learning trend to become self-sufficient and competent and make India the future global talent capital,” he explained.
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