City & Guilds Group did an international study of 8,000 employees in India, the UK, US and South Africa to measure the confidence levels of the working population with reference to their skills and jobs. It examined the role of vocational training and skill development, and their impact on their professional performances.
The major findings of the study are:
- 91 per cent Indians feel threatened that their skills will become obsolete in the next five years
- The skill gaps in Indian organisations are the highest globally compared to UK, US & South Africa
- 80 per cent of Indian respondents are confident that they have the skills required to work abroad, but 40 per cent worry about 'brain drain'. 42 per cent of respondents in South Africa fear the same
- 72 per cent of middle managers in India receive training, compared to just 39 per cent of the UK's and 45 per cent of the US's middle managers
- India has the highest number of senior leaders who believe that their skills are fully utilised by their company
- 96 per cent respondents in India agree there is a need for formal skills training and most prefer learning on the job while some prefer learning from colleagues.
As per the report, the Indian government has over 70 schemes for skill development like Digital India, Start-up India, Skill India, and more to boost India's workforce. Over 90 per cent of the workforce agrees that programmes like Skill India will provide the next generation with the right set of skills to support India's growing economy. The emphasis on the need for skill development is not only identified in India but globally as well.
According to the report, skill gaps can impact an organisation in various ways and lead to wastage of time, loss of revenue and the workforce being less productive. One third of the CEOs feel that companies with less skilled workforce lose out to their competitors.
The C&G report highlights that all markets have single-mindedly observed that CEOs, middle managers and the general employees have attributed skill development to be a major contributor to their organisation's success. Vocational training, learning and development programmes are the key requirements to upscale today's workforce. The report further adds that 46 per cent of Indians & 45 per cent of South African respondents believe that working in a multi-national environment is a key skill for their future career, vis-à-vis 21 per cent of UK and 25 per cent of US respondents.
Rajesh Kaimal, Head of Manipal City & Guilds said: "We today live in a global economy and are no longer divided by boundaries, states or nations. We have Indians migrating overseas for employment and multinationals operating in India and both require highly skilled labour. To broaden the horizons of our future generation it is important that the skills imparted should be benchmarked to national and international standards."
Some other findings were:
- 94 per cent respondents from Mumbai are confident that technological trends will have a positive impact on job prospects over the next decade
- 91 per cent respondents from Mumbai feel confident in the effectiveness of their company's learning & development investments
- 94 per cent respondents from Mumbai believe programmes like Skill India will provide the next generation with the right skills to enter the workforce
- 87 per cent respondents are confident that India has the right skills to ensure "Make In India" is a success
- 95 per cent of India's labour force does not possess formal vocational skills
- Only 14 per cent employees think their company's Learning & Development initiatives are aligned to business goals
The research was conducted by Censuswide, with 2,055 respondents in India, including 272 CEOs/Senior leaders, 532 middle managers, and 1251 general employees during May 2016. The survey was conducted from a random sample of Indian adults. Censuswide abides by and employs members of the Market Research Society, which is based on the ESOMAR principles.