With technology advancing at a fast pace, new forms of skilling are coming up. With the world being run by data, hiring will no longer be based on qualifications, but on skills.
According to the 9th edition of the India Skills Report, ISR 2022, the skills that will be in demand are problem-solving abilities, communication and project experience.
The pace of hiring across pharma and healthcare has picked up, and therefore, the demand for qualified engineers has also gone up. The report explores the ‘Re-engineering of Education and Skilling – Building for the Future of Work’.
About 75 per cent leaders — of the 150 corporations surveyed across over 15 industries and sectors — admit that there does exist a skill gap in their industry.
More freshers are currently employed in various companies compared to last year and freshers seem to be more in demand this year. The maximum demand is for those with one to five years of experience.
Fresh graduates are expected to invade the IT/ITes, Internet businesses, BFSI, and pharma sectors in the next few months. Demand for freshers is expected to rise, with higher demand for those professionals possessing one to five years of work experience. About 25 per cent of the new hires in the IT/ITES industry in 2022 are expected to be freshers.
Those in highest demand will be engineering, BE/BTech graduates, followed by BA, BCA, BCom and other graduates.
Owing to the skilling ecosystem’s success over the past five years, industries are looking to leverage candidates who have undergone Government-led skilling initiatives.
Relevant technical and vocational skills are being imparted in almost every state across India through initiatives such as SANKALP, PMKVY, ASAP, MSDE, AICTE, Sunstone Eduversity and so on.
It is heartening to know that a significant 51.28 per cent of employers surveyed are considering hiring candidates who have received training under these Government-led skilling initiatives.
This also indicates that organisations are satisfied with the quality of those trained via these Government-led skilling initiatives.
As the IT and e-commerce sectors in India are growing rapidly, the recruiting of early-career professionals in these sectors will also be on the rise.
With organisations increasingly opting for digital transformation and innovation in new technologies, the demand for tech talent has gone up dramatically across all industries in the coming year. Due to the increasing demand for digital skills, the hiring of techies with a knack for emerging digital technologies will also go up.
The demand for management professionals, however, is expected to dip a little as most strategic roles in organisations will be taken on by seasoned professionals. Since there is a need for digital skills, Internet businesses top the list of businesses who will hire candidates with one to five years of experience, with about 46 per cent of the internet businesses admitting their intention to hire from this category.
Next in line are software, hardware and IT sectors with 40 per cent businesses in these sectors planning to hire candidates with one to five years of experience in 2022.