1.
65% of Indian IT employees are not re-trainable.
Capgemini Indias head cautions against the challenges that
the Indian IT sector faces.
Srinivas
Kandula, Capgemini India’s chief executive believes that 60-65% of IT employees
are not trainable. At the Nasscom leadership summit in Mumbai, he said that a
large number of people employed in the IT cannot be trained according to the
shift in nature of work, and India is likely to witness unemployment in the
middle and senior level in the future, reports a publication. The Indian division of the French
company employs a hundred thousand engineers in the country.
Concerns
about the quality of education and training imparted at institutes were also
raised, as Srinivas stated that a big chunk of the 3.9 million IT employees
come from low-grade engineering colleges, wherein grading patterns for students
are inefficient. Noting that the quality of graduates joining the sector is
abysmally low, he said that many of them are not able to answer what subjects
they were taught in the final semester of their engineering.
He added
that since more number of students are hired from lower grade engineering
colleges than before, an increase in the wages has been negative by a
significant margin. He explained that two decades ago freshers were offered Rs.
2.25 lakh per annum, whereas today they are offered Rs. 3.5 lakh, which
effectively means that real wages have decreased significantly, after adjusting
for inflation. Furthermore, Kandula also said that the drive to secure returns
from their investments has prevented investors from investing in upgrading the
skill set of employees according to the changing nature of work in newer,
digital technologies.
2.
Training: Secret to business success?
The latest LinkedIn report shows
us that, to stay ahead, employers should be asking if they are skilling up
employees with the most relevant and consistent training.
Market
economics indicates that the thin line between success and failure of a
business entire depends on how efficiently, the overheads, especially the
largest cost, i.e. manpower is managed. It is therefore no surprise that
organizations today expect their employees to be at their productive best and
are working with them to instill self-service analyics when it comes to
self-service visual discovery.
Consider
Star Health and Allied Insurance - a leading player in the Indian private
insurance sector which was facing a tough time generating reports around claims
and product development. The primary challenge was the dependence on an
external vendor which made the analytics and reporting process slower, and
costlier. After deliberations with multiple stakeholders, Star Health adopted a
new solution personifying self-service analytics, offering the ability to
generate reports internally without vendor dependency. Today over 400 employees
interact and view the reports generated inhouse leading to reduction in report
generation time to one tenth of original and also this has also reduced its
expenses considerably.
Employees
with adaptable and collaborative working environments tend to be more productive
and efficient with their work. The same thought can be applied to internal
training through providing cross-department opportunities. For example,
bringing the marketing team alongside the sales team to learn about latest
negotiation techniques. Or sharing new technology tools across
departments so that teams understand the ultimate benefits to the business.
This
allows employees to improve their proficiency levels within their role and
outside of their current responsibilities. Additionally, it can motivate
employees to learn how processes work throughout the business, from start to
finish and how they contribute to the final results.
This
may seem obvious but providing training that is relevant to not just the role
but to the broader industry landscape is vital for the continuing success of
your business. Matching skills and jobs has become a high-priority for many
businesses which now recognise that skills are a critical asset for employee
motivation and retention.
What
does this mean for employers? Ensure you are aware of what’s happening in
your industry – the latest trends, research and developments – so that you
bring bigger picture thinking to the kind of training you offer. With
this perspective, you’ll be well placed to offer the most relevant training to
employees.
There
will always be new competitors and innovations popping up. The latest LinkedIn
report shows us that, to stay ahead, employers should be asking if they are
skilling up employees with the most relevant and consistent training. To those
that think of training as a ‘nice to have’ incentive, think again. In today’s
business environment, ignoring the development of important skills now could
mean losing out tomorrow.
3.
Genpact
partners with Ivy Knowledge, launches Executive Program
The collaborative arrangement will
facilitate the creation of a joint quantitative risk analytics program to
develop industry-oriented knowledge and skills in the field of risk analytics
with an accent on the banking and financial services sector.
Genpact
, a global leader in digitally-powered business process management and
services, has partnered with Ivy Knowledge Services for an executive training
program for working professionals to build talent in risk analytics.
The
collaborative arrangement will facilitate the creation of a joint quantitative
risk analytics program to develop industry-oriented knowledge and skills in the
field of risk analytics with an accent on the banking and financial services
sector.
The rigorous three-month
executive program will train industry professionals to provide real-time
intelligent information and insights to customers, regulators, partners, and
other groups in an increasingly digitally connected world. Besides improving
employability of professionals in the face of changing work requirements, this
program will also help generate a steady stream of professionals, including
data scientists, in the field of financial risk analytics.
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