BUILDING A NEW SKILLING SYSTEM TO MATCH THE NEW JOBREQUIREMENTS

Abstract

Economic growth is a reflection of jobs created and skills and knowledge are evident requirements for any job. Both developed and developing countries are focusing on skilling people and India is no different. Our aim is to become the future skill capital of the world and government is not leaving a single stone unturned. Being the youngest nation with more than 62% of its population in working age group of 15-59 years, and more than 54% of its total population below 25 years of age, it seems feasible. Recent skill initiatives such as National Skill Development Mission, Amendment in The Apprentices Act are examples of government’s action to move towards reality. Employment landscape is changing swiftly, and new jobs are emerging with rapid disruption in the business models around the globe. Today’s job market and in-demand skills are hugely different from the ones of 10 or even 5 years ago and the pace of change is only set to accelerate. New jobs require new skills which either does not exist or the population is niche. Building a skilling system to match the new requirements, a system that responds well to business needs, while opening opportunities for all people is the need of the hour. This paper summarizes the results of a research conducted in Indore, to find out the various skills gap found among present employees and the future employees of selected companies in Indore. The total of 320 managers was taken as sample and they were administered with a structured questionnaire. The summary of the skills gap is mentioned in the paper along with suggestions, training need analysis, and the employees can be trained to be fit for the job specifications.