Skill will undoubtedly be the most crucial factor for hiring and retaining talent in 2024 because of the rapidly changing digital landscape. The Emeritus Global Workplace Skills Study 2023 reveals that investment in online professional education is increasing significantly, resulting in a global upskilling revolution. The two countries leading this revolution are India and China. Let’s understand the professional upskilling trends in the two nations, the factors driving these changes, and how they are shaping the workforce.
How India and China are Leading the Charge in Professional Upskilling
According to Ashwin Damera, co-founder of Emeritus, professional upskilling is rising worldwide despite economic uncertainty. Professionals are focusing on continuous learning and upskilling. Economic uncertainty, massive job layoffs, international conflicts, and the ongoing recession are crucial factors compelling professionals to upskill in several countries, resulting in a large-scale upskilling revolution. The workforce in India and China is remarkably ahead in professional upskilling because of the following reasons:
1. Education is the Top Third Priority
A significant reason for professional upskilling in India and China is that both countries treat education as the top priority after necessities like food and health. The professional education industry will likely grow by 56% in India and 46% in China by the end of 2023. Some key motivators for upskilling are salary increases, self-confidence boosts, better job security, and enhanced work efficiency. All of them contribute to overall career growth.
The Indian Graduate Skill Index Report 2023 by Mettl shows that only 45% of Indian graduates are employable. Thus, there is a dire need for Indian professionals to upskill and secure well-paying jobs. The report emphasizes that the essential components for growth in employability are upskilling and reskilling. This is what the Indian workforce is paying attention to—upskilling and reskilling. And they are more focused on it than other countries.
2. Higher Spending on Education
India and China are the two most populous countries in the world. Consequently, unemployability, low wages, and skill gaps are some pressing concerns for the workforce in these two countries. Rapid technological advancements and automation are likely to render a significant number of jobs irrelevant, creating a risk of increased unemployment.
The Emeritus Global Workplace Skills Study 2023 highlights that 75% of Indian and 82% of Chinese professionals fear being replaced by technology. Therefore, professional upskilling is booming in the two countries. The fact that 68% of hiring managers focus on skills and believe that online courses open up various career opportunities also motivates professionals to upskill. Hence, the spending on education is higher by 30% and 20% in China and India, respectively, compared to other countries.
3. Plugging Skill Gaps
Because of the massive population in India and China, many areas, primarily rural regions in India, lack access to quality education. This obstructs learning and results in a skill gap in the modern workforce. 82% of Indian professionals acknowledge the need to develop certain skills to grow in their current role.
In China, 89% of professionals have a skill gap. However, what matters is skill gap awareness. Acknowledging the skill gap makes it easier for professionals to analyze and focus on professional upskilling. It helps determine their learning and career goals and take actionable items to achieve them.
According to Emeritus’ Global Workplace Skills Study 2023, 82% of professionals show higher engagement while learning new skills. The workforce in India and China are plugging skill gaps through online interactive learning.
4. Investing in Reputable Education Providers
Another significant reason India and China are emerging leaders in professional upskilling is their commitment to investing in reputable education providers. These include both premium schools and renowned edtech platforms. Professionals in both countries view quality education as a valuable investment for their careers. According to the Emeritus Global Workplace Skills Study 2023, 8 out of 10 Indian and 3 out of 4 Chinese professionals are keen to invest in reputable educational providers to seek good returns on their investments. Therefore, these countries are experiencing quality upskilling.
It indicates that upskilling is about learning new skills through online courses and mastering in-demand skills like data analysis, market research, critical thinking, analytical thinking, adaptability, and digital literacy to increase employability.
5. Growing Interest in Online Learning
Online education has made self-learning better, easier, and more accessible. However, the vast amounts of online information can overwhelm learners; it can either be too much or half-baked information. Learners, therefore, often need guidance to achieve their professional upskilling goals.
A strong inclination to online learning is the paramount factor driving the professional upskilling wave in India and China. 82% of the Indian workforce and 75% of China are interested in online learning. Notably, the global average is 63%, significantly less than these two countries.
A primary reason for the growing interest in online learning is the focus on acquiring practical skills. Online executive programs are more skill-oriented than traditional educational ones. They offer tailored learning that suits learners with diverse backgrounds and experience levels. Many edtech platforms provide courses in collaboration with leading global academic institutions. They help professionals learn from the best universities in the world while leveraging the benefits of online education. Furthermore, online executive courses allow learners to connect with other like-minded professionals and build a strong network to enhance their careers.
Upskill With Emeritus
The professional upskilling surge in China and India is a great example of the modern workforce in other countries. It conveys that upskilling and reskilling are the preferred ways for organizations to grow, as well as individuals. Emeritus Global Workplace Skills Study 2023 reveals that 80% of professionals globally are in favor of professional upskilling to gain a competitive edge in the market.
Building a successful career in a dynamic technological and digital landscape requires constant upskilling. It facilitates career development and enables professionals to build a future-proof career. However, the availability of multiple online platforms in the market makes it difficult for learners to select the most appropriate course. Some factors to consider while choosing courses for professional upskilling are course outcome, whether it aligns with your goals, course instructors, and affiliations with educational institutions.
If you are looking for online courses for professional upskilling, you must check Emeritus’ online courses that industry experts teach. The courses are taught by industry experts to help you gain relevant skills and insights into the industry. Explore Emeritus’ online courses today to commence your professional upskilling journey and boost employability.
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