Salary, job security grows with upskilling, shows upGrad report

Upskilling increases chances of the appraisal of Indian professionals by 2.5 times, a report by upGrad noted. As per the report, the benefits of upskilling extend beyond financial gains and also improve job security.

Mayank Kumar, co-founder and MD of upGrad, noted, “Upskilling, unlike yesteryears, has now become a clear driver of growth in our industry and this report is the reflection of what India’s corporate ecosystem collectively, continues to achieve.”

As per the report, professionals who invested in upskilling in the last 3 to 5 years saw a 2.5 times increase in appraisals and 2.3 times more frequent promotions. And the benefits of upskilling extended beyond financial gains including 1.7 times improved job security.

“The genesis of the report stems from the evolving learning patterns emerging out of metros and non-metros, signifying a wider adoption amongst senior professionals and parents who are realizing that lifelong learning is the key to long-term success,” Kumar added.

Women who were upskilled found it easier to return to work after a break and experienced 4.8 times improved career stability, the study highlighted. Moreover, 2 out of 3 upskilled professionals were found to be parents signifying a higher upskilling rate amongst working parents.

The co-founder of the edtech also noted how upskilling helps in return to work and said, “It's also a reminder that long-lasting jobs are fading and the only way to embrace opportunities is through continuous learning. As we progress from here, the growing acceptance shall continue to power India's transformation into a talent capital on the global stage."

Furthermore, 48 per cent of individuals self-sponsor their upskilling journeys with their primary focus being on technical skills (61 per cent), online courses (55 per cent), and professional certifications (35 per cent). On the other hand, employer-sponsored training mainly centers on industry-specific training (64 per cent) and soft skills development (55 per cent).

The report also added that people who upskilled in the past 3-5 years stayed 6 times longer in their new careers

The study drew insights from over 3,500 white-collared professionals from urban India. The report sheds light on the key trends in appraisals, promotions, and market opportunities, especially after a career break, while also marking a stark comparison between self and company-sponsored learning and skill-based training.