With the fast-changing business ecosystem in India, job seekers are not matching pace with evolving technologies and lack the required skill set. Unemployment in India is seen as a curse but what is driving it is seldom discussed. Almost one-third of the recruiters in India cite a lack of relevant skills as a major challenge while hiring, says a survey by shine.com. Businesses are becoming more specialised, needing skill sets to match their demand. The evolving complexities in various job roles, driven by digital transformation and adoption, have generated demand for highly skilled candidates. Salary expectations and adequate experience levels of the candidates are also highlighted as common hiring challenges among the employers.
"Skill gap is an age old problem that needs to be fixed by making learning a continuous habit. Rapid pace of job transformation keeps the recruiters on toes to find talent which is a challenge in a skill crunched labour market," Sumit Kumar, Vice President, NETAP, TeamLease Skill University, told Financial Express Online.
While a job seeker needs to prepare and upgrade capabilities to become and remain employable, employers too need to invest in creating people supply chain by investing in house learning systems for building human capital, he added. Among the changing demands of the business landscape, tech-backed skills are taking the center stage.
Besides skills, the old curriculum taught in colleges and universities can also be attributed to the significant gap with the industry requirements. The new graduates have to be further trained, almost from the basics.
"We hope to see more pronounced growth in the up-skilling trends across the country, which can power higher employability and make way for a more balanced hiring scenario," said Zairus Master, CEO, Shine.com. If the up-skilling trends catch up with the needs of the industry, India can witness high growth in its recruitment landscape, the report said.