The report, which analyses the current market sentiment, highlights a varied range of effective skill strategies that can help organizations assess and augment their existing skill-development programmes to improve productivity, revenue and bottom line growth.

According to the report, India will need 30 million digitally skilled professionals by 2026 and 50% of the current workforce would need to re-skill themselves in areas of emerging technologies.

TeamLease Degree Apprenticeship, India’s fastest growing apprenticeship program, from the TeamLease Services group, has today released a niche report for CHROs on ‘Skills Strategies for a Strong, Sustainable and Balanced World of Work.’

The report, which analyses the current market sentiment, highlights a varied range of effective skill strategies that can help organizations assess and augment their existing skill-development programmes to improve productivity, revenue and bottom line growth.

According to the report, India will need 30 million digitally skilled professionals by 2026 and 50% of the current workforce would need to re-skill themselves in areas of emerging technologies.

Sharing her views on the need for conducive skill strategies, Ms. Rituparna Chakraborty, Co-Founder & Executive Director, TeamLease Services and Chief Executive Officer, TeamLease Digital, said, “Today India has about 500 million people of working age and despite that we continue to face a skill crisis. Industry data suggests that only 49% of total youth (age group of 22-25 years) in the country is employable. In fact, our own surveyed have indicated that 75% of companies face skill gap in the industry. Even among people, who can stay in their current jobs, 40% of fundamental abilities are likely to change and thus re-aligning the skill strategy will be crucial for companies.”

The report from TeamLease Degree Apprenticeship highlights a seven-step skills strategy for corporates, which can directly impact their workforce productivity, revenue and growth. From developing a skills matric, conducting skill audit to targeting specific learning journeys and intermingling upskilling within the company culture; a comprehensive skill development strategy will lead to a more sustainable future of work. The proposed recommendation also includes having an effective outcome focused learning approach with structured impact evaluation metrics.