Given today's fast-changing world, as high as 62% of Indian professionals said in a survey by LinkedIn that they felt daunted by the rapid pace of change in skills that are in demand. A high proportion (45%) of those surveyed left organisations because of lack of learning and development opportunities, according to LinkedIn, which surveyed about 5,000 employees and professionals in Australia, India, Japan, and Singapore.
And this mismatch between market requirements, labour skills and opportunities is expected to grow more acute in future.By 2020, it is estimated that Asia-Pacific (Apac) will face a labour shortage of 12.3 million workers at an annual opportunity cost of $4.2 trillion. By 2020, it is also expected that 42% of the core skills required for a job will change, LinkedIn said.
So what are the new skills job aspirants will have to master to land fat pay cheques? LinkedIn said the top rising skills for growth are compliance, social media marketing, continuous integration, workflow automation, gesture-recognition technology, blockchain, artificial intelligence, robotic process automation (RPA), human-centred design and front-end web development. And the demand for talent with these skills is growing 3X compared to other sectors.
But employees also feel quite insecure as to whether they will be able to meet new market demands for varied skills. The LinkedIn study showed as high as 82% of Indian professionals feel that the skills needed to succeed are changing rapidly. Senior management too is aware of the problem with 80% of CEOs responding that they were worried about the availability of skills.
Another hurdle in today's fast-paced metro life is the long commute, traffic and other hurdles, which stretch an 8-9 hour work day to 12-14 hours.