India is the world’s most popular outsourcing destination for IT companies. After proving its talent to deliver both on and off-shore services to global clients and evolving technologies have open up a whole new world of possibilities for India’s top IT enterprises. By 2025, the industry is anticipated to be worth US$ 350 billion. But, the shortage of the right digital talent is emerging to be a global phenomenon.
According to a recent report by McKinsey & Co, about 15 million US workers have left their occupations since April 2021. Even more extreme is the situation for digital talent. Demand for digital talent in eight nations, including the United States, China, India, and portions of Europe, is expected to be 6 million people short.
The scarcity of digital skills in India is causing high attrition and rising wages, but this should not be looked like a challenge, instead, it should be used as an opportunity to make some daring moves and establish India as a global digital talent hub. According to a report, if the digital-skills gap goes unfilled, 14 G-20 countries might lose out on $11.5 trillion in cumulative GDP growth.
The covid-19 pandemic has accelerated the demand for digital talents. To combat the shortage of talent, companies all around the world are taking multiple modern approaches like increase new hires to expand the supply pool, improve re-skilling programs through online learning, and also provide employees a comprehensive work experience that includes career development, learning, and wellness. Those days are gone when an engineer used to write coding sitting in a room. Today, the narrative is the most critical ability for a data scientist. . Hence to be a global IT leader and hub, India needs to disrupt the traditional approach of talent development.
Few approaches and agendas which can help India in its emergence as a global IT hub are listed below:
- We need to create alternative talent pools. All technical abilities and skills don’t require a four-year engineering degree. We should focus on developing digital skills in smaller and rural areas, encourage more women to work in hybrid work environments, and also reform vocational education at industrial training institutes and polytechnics. For the implementation of these programs, we can use CSR funds from the industry.
- India needs to adopt a proper educational plan to impart the appropriate attitudes amongst young minds. The focus should be on excellent outcomes of continuous learning practices, skill credits, world-class academic innovation, experimental learning, and faculty training.
- We should adopt new ways of learning like training or internship programs on a larger scale that should be focused on assessments and not just on certificates. India should invest in creating top-class free information that can be used by anybody and is backed up by a legitimate certification system.
- Now, we must devise strategies to reward corporate skilling, not only for their benefit but for the sake of the entire ecosystem.
- We need to eradicate all barriers for people to get trained and skilled. Entry prerequisites and qualifying criteria that aren’t required should be eliminated and the focus should be on a quality-controlled exit process.
Jobs of the future will increasingly be technology-enabled; hence digital skilling is essential for India’s development. We have a big opportunity to turn India into a global IT hub. India’s aim should not only be focused on developing home-grown talents but also on attracting the greatest global talents here. By adopting innovative agendas and focusing on skill development, we can produce digital talents which will help India emerge as the global IT hub. It will lead us to be future-ready to grab the digital opportunities.