July 2022 \ Business & Investment \ BUSINESS NEWS
1.3 billion people worldwide affected by skills mismatch: Wadhwani Foundation

  • Dr Ajay Kela

NEW DELHI: The world is changing at a fast pace and with that job roles and requirements are also evolving. To survive in this highly competitive market, upskilling and reskilling are the need of the hour.

It is particularly essential for the youth, who are the future of the world and will make the greatest workforce in the coming years. Sticking to old working styles in the age of rapidly advancing technology and socio-economic trends affect the productive and professional growth of an individual. Citing the evolution of technology and working structure at the backdrop of the Covid-19 pandemic, the Wadhwani Foundation, a not-for-profit organisation, on the occasion of World Youth Skills Day said that about 1.3 billion people worldwide are affected by skills mismatch, which highlights the urgent need to equip young people to make them employment ready.

Speaking on the occasion, Dr Ajay Kela, President, and CEO of Wadhwani Foundation said, “Digital transformation of businesses, accelerated by Covid, is opening large volumes of high-paying job opportunities for global youth. Skills required to command these digital jobs can be acquired through numerous short-term training programs, and increasingly, employers are valuing such skills over academic credentials. On World Youth Skills Day 2022, I encourage the youth to capitalise on these opportunities through self-paced online re/upskilling programs, thus improving their job prospects and empowering themselves to become continuous learners for in-demand skills and jobs.”

The foundation called for empowering the youth with ‘Skills for the Future’ to match the changing job roles to secure their future. Quoting the latest report by McKinsey which revealed that 25 per cent more workers may need to switch jobs than before the pandemic, the not-for-profit organisation suggests skilling, reskilling and upskilling of massive proportions. Wadhwani Foundation and its skills-led initiative, Wadhwani Opportunity also share details on eight key emerging trends that could help to reshape the Indian skills ecosystem in times to come.

Sunil Dahiya, Executive Vice President, Wadhwani Opportunity explaining the changing paradigm in skilling said, “Covid-19 has affected fundamental changes at the workplace that demand future-proof skilling for future-ready jobs largely driven by advancing technologies and automation. However, along with the increasing importance of technological skills, the need for soft or employability skills has also surged. While smart of how teams equipped with social-emotional skills possess a definite competitive advantage. Wadhwani Opportunity is, therefore, focused on imparting both deep domain and soft/employability skills to equip the youth towards family-sustaining jobs.”

World Youth Skills Day is an initiative of the United Nations, observed every year on July 15. The day highlights youth’s abilities and skills. The theme for 2022 World Youth Skills Day is “Transforming Youth Skills for the Future”.

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