1.
Indian employees willing to spend
INR 2 lakh yearly on their upskilling: Study
Key drivers for Indian professionals seeking additional
education encompassed the desire for heightened job security, a boost in
self-confidence, the cultivation of leadership abilities, and the imperative to
remain current with industry knowledge. In a constantly evolving job market
with the continuous emergence of new technologies, upskilling has become
paramount. While leaders are making efforts to enhance the skills of their
workforce, budget constraints pose a significant challenge. A recent study
highlights the increasing enthusiasm for upskilling to align with industry
requirements. The study reveals that Indians are ready to invest approximately
INR 2 lakh (US $2,500) annually from their own pockets for further education.
Despite the global challenges of job layoffs and
salary reductions, education remains a top priority for Indians. The survey
revealed that two out of every three respondents acknowledged practicing
careful spending, prioritising essentials like healthcare, medicine, and
groceries.
The trend of Indians spending on further education out of pocket
stood out from most other parts of the world, where upskilling is being funded
largely by organisations. The main motivations for Indian professionals to
pursue further education included increased job security, a rise in
self-confidence, developing leadership skills, and staying up-to-date with
industry knowledge.
The commitment to ongoing learning within Indian society is
evident in the amount of time professionals dedicate to upskilling. According
to the Emeritus Global Workplace Skills Study 2023, respondents are willing to
invest an average of 11 hours per week in further education.
2.
The future of work is
human-AI synergy
Efficient
collaboration between humans and AI hinges on innovative task automation with
AI, seamlessly integrated with humans' contextual understanding. The tremendous
strides made in the domain of Generative AI over the last year alone have
fueled considerable excitement among stakeholders across industries about the
technology’s seemingly limitless applications. Yet, as organisations rush to
incorporate these solutions into their business processes, there is increasing
apprehension about the prospect of it making human workforces redundant. The
reality, however, is not quite so bleak. Far from replacing human workers
entirely, AI has the potential to empower employees by complementing their
efforts. The human-AI relationship of the future will be defined by
collaboration, not conflict - with Learning and development (L&D) having a
critical part to play in facilitating this new paradigm. AI and humans can work
in sync by capitalising on their respective strengths. AI's ability to automate
routine tasks liberates human workers to focus on more complex and nuanced
responsibilities, where their human touch is indispensable. This dynamic
significantly amplifies productivity and allows employees to dedicate their
time to strategic thinking and fostering innovation.
AI's application in
Big Data Analytics equips human workers with invaluable insights, enabling them
to make quicker, more informed decisions with heightened precision. For
instance, financial institutions employ AI analytics to rapidly evaluate loan
applications, while healthcare professionals use AI algorithms to swiftly
diagnose serious illnesses from patient data.
3.
What makes a
thriving workplace culture?
Amidst the profound
disruptions of the past three years, organisations must strategically pivot
towards cultivating an environment where prioritising employee well-being and
development takes precedence. Here are three key focal points to spearhead a
people-centric work culture; Mentorship programmes, Open communication channels and
Prioritising mental health. In an era where businesses across industries are increasingly
scrutinised not just for their profits but also for their commitment to
people-centric policies, several leading organisations have stood out as
advocates for putting people first. The core success and longevity of these
organisations can be attributed to their employees' unwavering dedication and
their ability to consistently deliver their best work when it counts.
These organisations
have established HR policies that reflect their commitment to employee
well-being and growth. Some key initiatives include mentorship programs,
dynamic town halls, and a steadfast focus on fostering a supportive environment
for good mental health. The initiatives that enable their teams to become
future leaders also create a culture of authenticity and transparency and
promote well-being in both professional and personal lives.
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