With an increase in lay offs, here’s how you can keep yourself ahead in the game

We are in a time of uncertainty on the job front. The last few months saw tens of thousands of employees being laid off in India. And the sword of layoffs still seems hanging. At this time, employees are looking for ways to keep their place intact in the company. This is one of the reasons why upskilling has become crucial for working professionals in all industries. Several reports surfaced in 2023 that have shown that whether inside or outside of HR, many leaders now recognise the value of large-scale upskilling and reskilling initiatives. However, the momentum is slow as of today.

Divya Jain, founder of an AI-driven upskilling platform Seekho says, “With the rapid pace of technological advancements and changing industry trends, it is essential for employees to constantly upskill and reskill themselves to stay ahead of the curve. Moreover, with the COVID-19 pandemic leading to job losses, the need for upskilling has become even more critical. As a social entrepreneur, I firmly believe that upskilling and reskilling are key to creating a sustainable future, where individuals have the necessary skills and knowledge to thrive in the rapidly changing job market.”

Ankit Choudhary, a data analyst at Adobe proudly told his journey of an increased income after he took up an upskilling course in his field.

Jain also told a story of a young man who had been working as a delivery boy for a small grocery store in his town. He had dropped out of school after the 10th grade due to financial constraints and had been struggling to find stable employment. With training in logistics, which included both technical and soft skills training, the guy secured a job at a leading e-commerce company as a warehouse executive. He is now earning a steady income, has been able to move his family to a better neighbourhood, and is even saving money to start his own business in the future, she said.

Various upskilling methods

taking courses,

attending training programs,

participating in workshops,

or engaging in on-the-job training

Types of upskilling courses

Technical skills: For example, coding, data analysis, software development, and graphic design, among others

Soft skills: for example, communication, teamwork, leadership, time management, and problem-solving

Industry-specific courses in healthcare, finance, education, hospitality, and retail

Leadership and management courses include strategic planning, team building, communication, conflict resolution, and decision-making.

Many in the industry provide upskilling courses, including some top names like Coursera, Udemy, Coding Ninjas, and Seekho, among others.

Why it is important

Technological advancements: Technology is constantly changing and evolving and, with it, the skills required to succeed in the workforce. To stay relevant and competitive, professionals need to keep up with these changes by upgrading their skills and knowledge.

Job market demands: The job market is becoming increasingly competitive, and employers are looking for candidates with specialised skills and knowledge. Ankush Singla, CEO and co-founder of upskilling platform Coding Ninjas said, “The evolution of technology, automation, and globalisation have rendered many skills that were once in demand, obsolete. Moreover, economic uncertainty has led to layoffs, making the job market highly competitive. In this scenario, upskilling becomes crucial for professionals to remain relevant, and competitive, and increase their chances of finding new employment opportunities.”

Personal and professional growth: Upskilling can help individuals develop new skills and knowledge, which can enhance their personal and professional growth.

Cost-effective solution: Upskilling is often a cost-effective solution for both employees and employers. Instead of hiring new talent or investing in expensive training programs, employers can invest in upskilling their current employees, which can be more efficient and cost-effective in the long run.

Employer support: Many employers recognize the value of upskilling and offer support for employees to pursue training and development opportunities. This may include tuition reimbursement, paid time off for training, or access to online learning platforms. Understanding the need of the hour, companies these days are tying up with upskilling companies to provide training opportunities to employees.

“Upskilling partnerships can improve engagement, retention, productivity, and innovation. At the same time, modern organisations encourage their employees to take ownership of their career growth path and upskill themselves to meet future aspirations. Once those skills are acquired, companies often find relevant positions within their organisations to match those newly acquired skills. It’s a win-win for all,” he said.

At this crucial time, it is important for working professionals and in fact students to start their journey toward a better future. So, skill up before you are brought down by the competition!