Skill development has taken the lead over academic qualifications in the current employment scenario, according to a recent survey.
The survey conducted by Vasitum, a recruitment start-up, and Talerang, an employability and training organisation, showed that many companies now look for individuals who do not just have a bag full of academic qualifications, but rather skills and experience that they bring with them making them work-ready.
It showed that there is a consensus among all about the importance of skill development for jobs. Skill development is no longer a matter of choice. It is inevitable to adapt, survive and succeed.
The survey saw maximum participation from millennials, who are currently employed and received feedback from more than 1,000 people.
About 45.5 per cent of the respondents are graduates and 31.8 per cent are employed full-time with various companies, but not necessarily have years of experience. About 14.9 per cent are trained professionals who say that they acquired the necessary skill-sets on the job and not during their education.
"This goes to show the skill gap that the existing education regime needs to address on an urgent basis. Over 86.5 per cent of participants feel that skill development plays an important role in one's career," a statement said.
The survey found that "problem-solving" emerged as the most important skill with about 64.7 per cent saying it was required for a successful career. Problem-solving is having the competence and capability to gauge an issue and find a way to solve it, rather than wait for things to fall in place.
This was followed closely by communication skills at 60.9 per cent and creativity at 57.1 per cent.
About 47.4 per cent of the respondents said that their formal education has not helped much to develop skills required for their workplace. Thus, there is a uniform consensus that skill development does play a critical role in the success of one's career.
Commenting about the survey results, Vikram Wadhawan, Founder & CEO of Vasitum said: "The findings haven't really been eye-opening because it's a long-held opinion about the current education regime and the employment scenario that skill development plays a significant role in making one job-ready."
Shveta Raina, Founder and CEO of Talerang said: "Competencies such as communication and resilience are key in the new normal. With the recently-enacted National Education Policy 2020, we hope to see reform in the education system with a shift from rote learning to individuals imbibing 'core essential skills' and becoming more employable."
