The value of skills and workforce development in India

India has an immense requirement for a skilled workforce with its growing economy, ever-changing technology, and increasing international trade. To develop a skilled workforce, there is a need to adapt skill-based educational practices. Recognising the value of skill development is a requisite for the competitive job market. Skill development can be defined as the time invested in improving proficiency to stay future-ready and be able to complete a task with higher rates of success at the right time. Skill development is an essential practice as skills determine one's ability to execute their plans with success.

Skills development in India:

India has a literacy rate of around 70%, while only 20% of them are employable. Literacy is not just restricted to education as it also expands to the concept of skills, which comprises technical expertise, transferrable skills, vocational skills, digital skills, and other such knowledge and abilities required for employment and livelihood. According to a survey, only 25% of the Indian workforce has undergone a skill development program. India needs a higher number of skilled workforces to change the narrative.India is experiencing a rise in the role of technology, climate change, urbanisation, demographic shifts, and the globalisation of value chains; as a result, it is changing the nature of work and demand for a skilled workforce.

To thrive in the 21st-century job market, one needs a comprehensive skillset comprised of:

  • Technical skills: An acquired knowledge and expertise to perform a specific task with the help of required technology or tools.
  • Socio-emotional skills: The ability to navigate through interpersonal and social situations efficiently, and include leadership, teamwork, self-control, and grit.
  • Cognitive skills: The ability to understand intricate ideas, adjust effectively to the environment, learn from experience, and reason.
  • Digital skills: Skills that carry on all the above skills, and describe the ability to reach, manage, learn, integrate, communicate, assess, and create information safely and appropriately.

Workforce development in India:

Workforce development puts 'people' at the centre stage of business development. This approach contributes to the strategies required to improve the potential of an individual in the workplace and career trajectory. Workforce development not only improves their chances in life but also leads to increased benefits for businesses.

Workforce development has a myriad of positive implications in the life of an individual and the business. The value of workforce development is that the employees benefit from retraining, and the employers enjoy a higher-skilled team.

Below are some of the main benefits of workforce development:

  • Increased operational efficiency
  • Increased job satisfaction
  • Lower turnover rate
  • Enhancements in innovative thinking
  • Improved productivity
  • Proactive problem-solving

Hence, workplace development plays a crucial part for a business, as an empowered workforce is like an asset to their employer. However, when employees feel overlooked or neglected by their management team, they may start looking for employment elsewhere.

Pearson has recognised this requirement and value of skills and workforce development in India and devised Pearson BTEC courses to prepare learners for a successful career in their chosen industry with hands-on practical learning. BTEC opens doors to diverse career opportunities for learners and provides them with real-life skills to meet industry demands. Click here to know more about Pearson BTECs globally recognised qualifications and courses.