As India confidently marches towards its ambitious goal of becoming a $5 trillion economy, the reins to steer ahead the nation towards this goal mainly lies in the hands of the Indian youth. With a median age of 28 years, the Indian talent landscape is evolving at an unprecedented rate.
In March 2023 EY released a report The Future of Pay Report 2023 by EY outlining key talent trends for 2023 shedding light on an expanding talent pool, scarcity of skilled professionals, heightened competition for top talent, the emphasis on upskilling and reskilling in pivotal sectors for job growth, and the dynamics of retention and attrition rates.
As per the report, India boasts one of the largest working-age populations globally, leading to the expansion of its talent pool. Particularly noteworthy is the high employability rating among undergraduates in engineering and technology, standing at approximately 55 percent. In contrast, graduates holding a degree in computer applications exhibit an employability rate of around 29 percent.
2023 has been marked by economic uncertainties, charged debates around work-life balance and expectations from the workplace. In particular, the role of AI and Gen AI augmenting software-led technologies has been a topic of massive interest as well as speculation. Looking ahead to 2024, it is imperative for India’s youth to equip themselves with key skills to thrive in an increasingly tech-centric and specialised job market where AI will challenge the traditional ways of developing and leveraging technology. The following are a few key skills which the youth must imbibe to thrive in these dynamic times.
1. Adaptability and resilience:
The ability to adapt to change and rebound from adversity is more critical than ever, especially in the context of constantly evolving geopolitical and economic dynamics. Embracing change as an opportunity for personal and professional growth, navigating through significant changes with an open mind, and developing resilience are foundational skills for success in 2024.
2. Technological proficiency in AI and digital skills:
As technology continues to reshape industries, proficiency in Artificial Intelligence (AI) and Machine Learning (ML) is paramount. The youth must prioritise developing digital literacy, including data analysis skills, to stay relevant in a landscape where tech takes centre stage.
3. Sustainability literacy:
Environmental and social considerations are increasingly shaping business practices. To align with global trends, youth must understand and integrate sustainability practices in their skill sets. Staying informed about environmental and social concerns, and incorporating Environmental, Social, and Governance (ESG) considerations, will be crucial. Moreover, given the climate conditions and net zero targets, sustainability must become a business imperative that will define growth. The workforce needs to align skill sets with these demands, where green tech is emerging as a relevant and high-in-demand skill.
4. Continuous learning and upskilling:
In a rapidly evolving job market, continuous learning is not just an option; it’s a necessity. Proactively investing in education and training, participating in workshops, and embracing a mindset of continuous learning is crucial for staying relevant amidst technological advancements.
Sr. Vice President – Global Development & Delivery Center
NEC Corporation India
5. Emotional intelligence:
In the digital age, the importance of emotional intelligence cannot be overstated. Cultivating empathy, self-awareness, and exceptional interpersonal skills are key. Recognising the value of effective collaboration in a digital world is essential for successful teamwork and leadership.
As India surges forward, the youth must recognise that these skills are not just a response to the challenges of today but an investment in a future where technology and human-centric skills coexist. Navigating 2024 requires a proactive approach to learning, adapting, and embracing the boundless opportunities that a tech-driven era presents. By honing these skills, the youth can contribute not only to their personal growth but also to the nation’s journey toward becoming a global economic powerhouse.
