World Youth Skills Day 2024: Emphasizing Upskilling and Loud Learning for Young Professionals

World Youth Skills Day 2024: Theme, significance, and why industry experts emphasize on upskilling of youth

India has joined the rest of the nations to observe World Youth Skills Day 2024 today - a United Nations initiative launched in 2014 that celebrates the strategic importance of equipping young people with skills for employment, decent work, and entrepreneurship. The theme of World Youth Skills Day 2024 is 'Youth Skills for Peace and Development', which according to the United Nations, underscores the crucial role young people play in peacebuilding and conflict resolution. The UN informed that since its launch in 2014, "World Youth Skills Day continues to provide a unique opportunity for dialogue between young people, technical and vocational education and training (TVET) institutions, firms, employers' and workers' organizations, policymakers and development partners." In this article, we will look at what industry experts from India have to say about Youth Skills Day 2024, and the significance of upskilling the youth - students and professionals alike. Highlighting the importance of upskilling the youth, Ophira Bhatia, the Senior Director at India & Lead, Asia Pacific, Middle East and Africa (AMEA), Corporate & Government Affairs- Mondelez International, emphasized that empowering youth with employment skills is crucial for enhancing livelihoods and income, particularly in a world that continues to face complex challenges. Likewise, Ankit Agarwal, Founder and CEO of Unstop, said that that more than 50 percent of the workforce is expected to be Gen Z in the next 5 years, and therefore upskilling and giving them the right opportunities to grow is imperative. Seshadri Venkatachalapathi, Digital Campus Lead at BT Group, said that in a rapidly changing job market, empowering youth with the right skills has never been more crucial. He stated the theme 'Youth Skills for Peace and Development' calls upon every individual to recognize the untapped potential of young people as agents of positive change. "Through upskilling initiatives and promoting digital leadership, we're preparing youth for the jobs of the future while also creating a workplace that values work-life balance, diversity, and inclusion," Venkatachalapathi said. "On this World Youth Skills Day, let's renew our commitment to empowering youth, because when they succeed, we all succeed," he added. Sachin Alug, CEO of NLB Services highlighted that India has emerged as a global IT outsourcing hub and a breeding ground for technology start-ups but there is still a pressing need to address the skills gap. "As industries in India rapidly evolve due to technological advancements and shifting market conditions, professionals recognize the necessity of acquiring new, specialized skills to meet employer expectations.," Alug said. Quoting a recent report, Alug pointed out that only 29% of Indian fresh graduates in white-collar jobs feel secure about retaining their positions in FY25, and that professionals in the IT, telecom, and tech sectors, especially those with engineering degrees, consider upskilling important for their careers. "As per the study the highest intention to upskill in FY25 is among professionals in manufacturing, engineering, capital goods, and BFSI sectors. "In terms of cities, Bengaluru and Chennai lead in upskilling initiatives, followed by Mumbai, Delhi, and Hyderabad," highlighted Alug. "Popular upskilling areas include data analytics, machine learning, cybersecurity, banking and wealth management, digital marketing, robotics, artificial intelligence, and cloud computing. These programs can lead to a salary increase of 20-30% in metro cities and 15-20% in Tier 2 and 3 cities," Alu said referring to the study. For a success in the AI-driven future, a proactive strategy for continuous learning and upskilling is required, or India may experience instability owing to insufficient upskilling in the IT sector, particularly in AI, the NLB Services CEO stated. Ashwini Deodeshmukh, Head CSR & Sustainability Reporting, Godrej & Boyce said, "As industries shift towards AI and IoT-based operations, training a workforce skilled in current and emerging green technologies is critical. Further, as we transition to clean and renewable energy sources, it is increasingly important to reskill the existing workforce and train the future to ensure their employability. One such course that can aid people in gaining green skills and becoming ready for jobs of the future is the Solar PV Installation Technician course." Sudarshan Suchi, CEO of Bal Raksha Bharat, said that young entrepreneurs drive innovation, leading to new products, services, and technologies that can boost the economy. "If India aspires to be a developed nation by 2047, such an inclusive growth is crucial for achieving this goal. These young boys and girls will have a cascading effect to pass on this opportunity to many more, and empowered youth can build sustainable businesses that contribute to long-term economic stability," Suchi said on the sidelines of expansion of the YIAL (Youth Innovation and Action) program. Chandrasekhar Sripada, Clinical Professor (OB) at Indian School of Business emphasized on the importance of the twin forces of digitalization and demographic shifts for revisiting the India's overall job design and employment generation strategies. He said that through the Budget 2024, the government should drive the concept of 'Remote Work' to create more inclusive employment and encourage large city-based companies to offer employment to small towns and build their rural talent workforce. "Companies should be provided with incentives for setting up co-location spaces in small towns and establishing more offices / work sites in tier 2 and 3 towns. This, in turn, will require special allocation for skilling in rural areas, including how to work effectively from remote locations. Provisions must be made to augment broadband internet in rural locations significantly, and other infrastructure facilities to help large companies either to go there or offer remote / hybrid work options to small-town talent." Sripada said.

World Youth Skill Day: Young professionals show tilt towards 'loud learning' to upskill themselves

We are a nation with an average age of less than 30 and with one of the highest number of work-ready people in the world. But it is also a world where lifelong learning is a must to adapt oneself to the changing work trends. So youth need to embrace skill building to find the best jobs and be the best leaders of tomorrow. On World Youth Skills Day -- which falls on July 15 -- we take a look at the learning trends and at what organisations are looking for in today's employment landscape. LinkedIn data reveals a new workplace trend called "loud learning" where professionals are becoming more vocal and intentional about their learning goals. Eight of 10 (81%) professionals in India say that loud learning can help them dedicate time to improve their skills. Professionals are interested in learning skills that help them adapt to changes in the industry or job market (38% of the respondents); are directly related to their role so they can do their job better (36%); and help them future-proof their career (34%). While millennials were found to be the most active learners, spending 4-5 hours per week on learning, it was also a massive priority for Gen Z. About 87% of Gen Z professionals are dedicating regular time to acquiring new skills, with 44% investing 4 to 5 hours weekly, according to the LinkedIn data. And their focus is not just on skills directly tied to their current roles: 29% are keen to acquire skills that either aren't related to their current roles or can enable them to make a career pivot. Nishchae Suri, Managing Director at Cornerstone OnDemand India, says the challenges faced by the younger generation, particularly Gen Z, are unprecedented. Many traditional entry-level roles have been automated. So 40% of employees' skills are projected to be obsolete in four years and 67% of the world's youth lack digital skills. This creates an urgent need for new skill sets. The gap can be bridged by providing continuous learning opportunities and nurturing a culture of innovation. About 87% of organisations who took part in another survey are experiencing skill gaps or expect to face it within a few years. Artificial intelligence (AI) skills are high on many recruiters' lists. At least 75% stated they wouldn't hire someone lacking in AI skills. Interestingly, AI skills outweigh experience, with 80% of leaders in India preferring to hire a less experienced candidate with AI skills over a more experienced candidate without them. The top five skills hiring managers consider important are a combination of both hard and soft skills: problem-solving abilities (31% of the respondents), AI skills (25%), critical thinking (22%), communication skills (21%) and IT & web skills (20%). Recruiters in India are also looking for learning intent, with nearly half (46%) looking to hire employees who are willing to learn and grow. Companies are also investing in their own skill building programmes for youth in emerging areas. Pawan Bhageria, President of Global HR, IT, Admin and Education, Tata Technologies, says, "Recognising the significant amount of the skill gap in the EV (electric vehicle) space -- in terms of R&D, maintenance, service, etc -- it is our constant endeavour to support upskilling of both students and working professionals. Our in-house skilling and partnership programmes -- like the 'Ready Engineer Program', teacher training with iRISE, government partnerships to form ITIs and the InnoVent hackathon challenge -- are the results of our commitment towards upskilling the youth." Courses in areas like AI and machine learning for EVs are becoming increasingly vital, he adds. Nirajita Banerjee, LinkedIn Career Expert & Senior Managing Editor, says, "Gen Z professionals are hungry for knowledge and skills, and are motivated to invest time in learning. Their drive to learn a wide range of skills reflects their forward-thinking approach to professional growth, and their strong will to take greater control of their careers. By learning a variety of skills beyond just job-specific ones, they'll be ready to thrive in the fast-paced future, especially as AI quickly transforms how we work." Initiate conversations with your manager: They can provide insights into different functions within the company and suggest opportunities like shadowing other teams or joining internal training programmes. Volunteer for opportunities: This hands-on experience will expose you to different aspects of the business and broaden your skill sets. Tap into your network: Stay connected with your network, both online and offline, to stay updated about in-demand skills. Be sure to use LinkedIn to ask for recommendations and insights from your professional community. Leverage Al to personalise your skill set: It helps you grow skills faster, with greater personalisation and guided conversational learning. Explore personal projects and side hobbies: Pursue personal projects or hobbies as it can help you develop transferable skills that are valuable in various professional contexts. These can also be shared on professional networks.