AI Training Boosts Salaries and Reshapes Hiring Landscape, Reveals Unstop Report

93% of HR leaders say degrees are obsolete, GenZ demands job-ready education, reveals Unstop Hiring Kart: Skill & AI report

95% of students want to be assessed through skill assessments, 46% want these assessments to take place even before resume screening 73% of HRs think the best solution to the skill gap is mentorship Only 13% of HRs believe graduates are very well prepared to work with AI, but 68% of Gen Zs think they're competent in AI 85% of Gen Z want workplace training and HRs are even providing it. Unstop, a leading talent attraction, assessment, and hiring platform for students and graduates, recently hosted the annual Unstop Talent Meet - Delhi, where it unveiled the Unstop Hiring Kart: Skills & AI Report 2024. Based on comprehensive surveys of 6,900 GenZ professionals and 610 HR leaders, the report, unveiled by Hidekazu Ito, Managing Director, Mynavi Solutions India, Pankaj Bansal, Founder, PeopleStrong & Managing Partner, Caret Capital and Ankit Aggarwal, Founder & CEO, Unstop, sheds light on the evolving dynamics of skills, AI, and workplace readiness, offering critical insights into the modern talent ecosystem. Unstop has also signed an MoU (Memorandum of Understanding) with NSDC, a strategic collaboration which aims to harness the expertise of both organisations to bridge the gap between academia and practical workplace requirements, ensuring the future workforce is ready to navigate the dynamic job market. The report reveals that 89% of GenZs and 68% of HR professionals agree that candidates equipped with AI training can command higher salaries. Another major takeaway from Unstop's report is the growing disparity between academic preparation and corporate expectations. A staggering 45% of Arts, Science, and Commerce graduates reported feeling unprepared for the workforce after college, a sentiment echoed by 25% of working professionals. Overwhelmingly, both 93% of HR professionals and 78% of GenZ think that traditional degrees are becoming obsolete, emphasising the urgent need for academia to overhaul curricula to prioritise job readiness. Further, the report delves into the existing gap in workplace skills. HR professionals ranked analytical skills, teamwork, collaboration, and strategic leadership as the most in-demand yet also the hardest to find. Mentorship emerged as a potential solution, with 74% of HRs advocating for structured mentoring programs. However, GenZ identified a lack of challenges as a key hurdle in their upskilling journeys. While 46% of GenZ prefer skill-based assessments before resume screening, 59% of HR leaders conduct these evaluations afterwards. This misalignment underscores the need for organisations to rethink hiring strategies and move toward skill-first approaches. This brought along the next question: Is AI a friend or foe? The answer is that AI continues to spark polarised opinions, and the report highlights this. While 45% of GenZs see Data & AI as indispensable skills, only 14% of HR professionals agree. Despite this, 65% of HRs report that AI expertise is shaping their hiring strategies, and 6 in 10 HRs use AI tools frequently at work. Yet, concerns around over-reliance on AI persist, with GenZ warning of "intellectual dwarfism" and the risk of stifled creativity. Sharing his thoughts on the report launch, Ankit Aggarwal, Founder and CEO of Unstop said, "The Unstop Hiring Kart: Skills & AI Report 2024 highlights the critical need for a paradigm shift in how we prepare for and evaluate the workplace of tomorrow. GenZ is pushing boundaries, embracing AI, and demanding meaningful skill development. For organisations, this is a wake-up call: adapt hiring strategies, foster continuous learning and champion mentorship. Only by bridging the gap between skills and opportunity can we shape a workforce that thrives in an AI-driven world." The report concludes that GenZ is ready to take charge of their future, with 60% independently upskilling through online courses, internships, and competitions. They demand organisations step up with role-specific training and continuous learning opportunities. Despite 81% of HRs providing these resources, a significant 19% of organisations still neglect this critical area of investment. About Unstop Unstop, derived from the belief to #BeUnstoppable, is the leading talent attraction, assessment and hiring platform for Gen Zs to learn, upskill, showcase their skills, gain CV points and get hired while unlocking their true potential through their academic journey. With 18 million users Unstop touches 5 million monthly active users at present.

89% of Gen Zs and 68% of HRs believe AI training boosts salaries, reveals Unstop Hiring Kart: Skills & AI report 2024

95% of students want to be assessed through skill assessments, 46% want these assessments to take place even before resume screening 73% of HRs think the best solution to the skill gap is mentorship Only 13% of HRs believe graduates are very well prepared to work with AI, but 68% of Gen Zs think they're competent in AI 85% of Gen Z want workplace training and HRs are even providing it. Unstop, a leading talent attraction, assessment, and hiring platform for students and graduates, recently hosted the annual Unstop Talent Meet - Delhi, where it unveiled the Unstop Hiring Kart: Skills & AI Report 2024. Based on comprehensive surveys of 6,900 GenZ professionals and 610 HR leaders, the report, unveiled by Hidekazu Ito, Managing Director, Mynavi Solutions India, Pankaj Bansal, Founder, PeopleStrong & Managing Partner, Caret Capital and Ankit Aggarwal, Founder & CEO, Unstop, sheds light on the evolving dynamics of skills, AI, and workplace readiness, offering critical insights into the modern talent ecosystem. Unstop has also signed an MoU (Memorandum of Understanding) with NSDC, a strategic collaboration which aims to harness the expertise of both organisations to bridge the gap between academia and practical workplace requirements, ensuring the future workforce is ready to navigate the dynamic job market. The report reveals that 89% of GenZs and 68% of HR professionals agree that candidates equipped with AI training can command higher salaries. Another major takeaway from Unstop's report is the growing disparity between academic preparation and corporate expectations. A staggering 45% of Arts, Science, and Commerce graduates reported feeling unprepared for the workforce after college, a sentiment echoed by 25% of working professionals. Overwhelmingly, both 93% of HR professionals and 78% of GenZ think that traditional degrees are becoming obsolete, emphasising the urgent need for academia to overhaul curricula to prioritise job readiness. Further, the report delves into the existing gap in workplace skills. HR professionals ranked analytical skills, teamwork, collaboration, and strategic leadership as the most in-demand yet also the hardest to find. Mentorship emerged as a potential solution, with 74% of HRs advocating for structured mentoring programs. However, GenZ identified a lack of challenges as a key hurdle in their upskilling journeys. While 46% of GenZ prefer skill-based assessments before resume screening, 59% of HR leaders conduct these evaluations afterwards. This misalignment underscores the need for organisations to rethink hiring strategies and move toward skill-first approaches. This brought along the next question: Is AI a friend or foe? The answer is that AI continues to spark polarised opinions, and the report highlights this. While 45% of GenZs see Data & AI as indispensable skills, only 14% of HR professionals agree. Despite this, 65% of HRs report that AI expertise is shaping their hiring strategies, and 6 in 10 HRs use AI tools frequently at work. Yet, concerns around over-reliance on AI persist, with GenZ warning of "intellectual dwarfism" and the risk of stifled creativity. Sharing his thoughts on the report launch, Ankit Aggarwal, Founder and CEO of Unstop said, "The Unstop Hiring Kart: Skills & AI Report 2024 highlights the critical need for a paradigm shift in how we prepare for and evaluate the workplace of tomorrow. GenZ is pushing boundaries, embracing AI, and demanding meaningful skill development. For organisations, this is a wake-up call: adapt hiring strategies, foster continuous learning and champion mentorship. Only by bridging the gap between skills and opportunity can we shape a workforce that thrives in an AI-driven world." The report concludes that GenZ is ready to take charge of their future, with 60% independently upskilling through online courses, internships, and competitions. They demand organisations step up with role-specific training and continuous learning opportunities. Despite 81% of HRs providing these resources, a significant 19% of organisations still neglect this critical area of investment. About Unstop Unstop, derived from the belief to #BeUnstoppable, is the leading talent attraction, assessment and hiring platform for Gen Zs to learn, upskill, showcase their skills, gain CV points and get hired while unlocking their true potential through their academic journey. With 18 million users Unstop touches 5 million monthly active users at present. Unstop caters to the Talent Acquisition fraternity by being a comprehensive, AI-enabled, skill-based hiring platform dedicated to connecting employers with the right talent. Trusted by over 5000 brands, our platform leverages advanced technology to streamline the recruitment process, ensuring a perfect match between job roles and candidate skills.

AI training can help command better salaries, say 89% of Gen Zs and 68% HR professionals

A recent report reveals a growing disconnect between traditional education and job market demands. Gen Z and HR professionals agree that degrees are becoming obsolete, emphasizing the need for skill-based hiring and AI training. While Gen Z proactively seeks upskilling, organizations must adapt to provide continuous learning and mentorship opportunities.Calling for a complete overhaul of curricula to prioritise job readiness, skilling platform Unstop's Hiring Kart: Skills & AI Report 2024, released on Thursday, cited the findings of a survey in which 93% of human resources (HR) professionals and 78% Gen Z respondents said traditional degrees were becoming obsolete. Based on insights from 6,900 Gen Z professionals and 610 HR leaders, the report spotlighted the need for academia and organisations to rethink their approaches to skills, hiring and workplace readiness. Indicative of the growing clout of artificial intelligence (AI) expertise, 89% Gen Z and 68% HR professionals said that candidates trained in AI can command higher salaries. At the same time, 45% of graduates in arts, science and commerce said they felt unprepared for the workforce, a sentiment echoed by 25% of working professionals. According to HR leaders, analytical thinking, teamwork and strategic leadership are among the most in-demand skills, yet these are also the hardest to find. Advocated by 74% of HR professionals, mentorship programmes are seen as a potential solution, while Gen Z identified a lack of challenges in their upskilling journeys as a significant hurdle. The report highlighted a misalignment in hiring strategies., with 46% of Gen Z respondents saying they preferred skill-based assessments before resume screening, while 59% HR leaders said they conducted such evaluations afterwards. As AI reshapes recruitment, organisations must adopt a skills-first approach to hiring, the report said. "The report highlights the critical need for a paradigm shift in how we prepare for and evaluate the workplace of tomorrow," said Ankit Aggarwal, chief executive of Unstop. While 45% of Gen Z respondents said they saw AI and data skills as indispensable, only 14% of HR professionals agreed. Yet, 65% of HR leaders acknowledged that AI expertise influenced their hiring strategies, and six in ten said they used AI tools frequently at work. Concerns persist, though, with Gen Z warning of "intellectual dwarfism", the risk of stifling creativity through overreliance on AI. Despite workplace readiness challenges, Gen Z is taking charge. Three in five of them are upskilling independently through online courses, internships and competitions, as per the report. "Gen Z is pushing boundaries, embracing AI and demanding meaningful skill development," said Aggarwal. According to the report, Gen Z expects organisations to step up with role-specific training and continuous learning opportunities, resources that 19% companies still fail to provide, despite 81% HR professionals claiming otherwise. "For organisations, this is a wake-up call: adapt hiring strategies, foster continuous learning and champion mentorship," said Aggarwal.