Indian Professionals Fear Job Displacement Without Upskilling: Emeritus Study 2023

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Indian professionals are increasingly concerned about job displacement due to technological disruptions, according to a recent study by Emeritus. The Emeritus Global Workplace Skills Study 2023 reveals that three out of four working professionals fear that technology will replace their jobs if they do not upgrade their skillset.

The study, which surveyed 1,720 professionals aged 21 to 65 across 20 tier-I and II cities in India, found that 92% of Indians believe they face a skill gap in terms of employability. This aligns with the World Economic Forum’s estimate that at least 40% of employees worldwide will require new skills in the coming years.

Professionals in sectors such as Finance and Insurance, Software and IT services, Healthcare, and Manufacturing expressed the highest concerns about technology replacing their jobs if they do not upskill. As technology penetrates various industries, 80% of Software and IT services professionals and 81% of healthcare professionals surveyed fear job displacement unless they continuously upgrade their skills.

The study also highlights the most sought-after topics for professionals in India, including digital marketing, data analytics, finance, management, and Artificial Intelligence (AI). However, there is a significant demand-supply gap for skilled AI/ML talent in the country, according to a report by Nasscom.

Mohan Kannegal, CEO of Emeritus, stated that the fear of job displacement due to technological disruptions is a growing concern among Indian professionals. However, he highlighted that 83% of the Indian respondents are eager to upskill through reputable learning providers to achieve their career goals.

The survey encompassed a wide range of sectors, including Software and IT services, Finance, Insurance, Education, Manufacturing, Technology and Innovation, Healthcare, Engineering and Construction, and Retail. The median age of the respondents was 39, with an average work experience of 12 years.

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It is evident from the study that continued education and upskilling are becoming the norm in the Indian workforce. Professionals are realizing the need to stay abreast of technological advancements and acquire new skills to remain competitive in the fast-changing job market.

This study underscores the importance of online education as a means to navigate uncertain times. By investing in continued education, employers can boost job security, enhance skill sets, and increase employee loyalty. As technology continues to reshape every sector, it is essential for professionals to embrace the upskilling revolution and bridge the skill gaps for a promising future in the workforce.

Frequently Asked Questions (FAQs) Related to the Above News

What is the Emeritus Global Workplace Skills Study 2023?

The Emeritus Global Workplace Skills Study 2023 is a study conducted by Emeritus, a global leader in professional education, aimed at understanding professionals' concerns about job displacement due to technological disruptions and the need for upskilling in the Indian workforce.

How many professionals were surveyed for the study?

The study surveyed 1,720 professionals aged between 21 and 65 across various industries, including Finance and Insurance, Software and IT services, Healthcare, and Manufacturing.

What percentage of Indian professionals believe that technology will replace their jobs if they fail to continuously develop their skillsets?

According to the study, as many as 3 out of 4 working professionals in India believe that technology will replace their jobs if they fail to continuously develop their skillsets.

Which sectors in India expressed the highest concerns about job displacement due to technology?

The study revealed that professionals in the Software and IT services sector, healthcare, technology & innovation, professional services/consulting, and finance and insurance expressed the highest concerns about job displacement due to technology.

What are the most sought-after topics for upskilling among Indian professionals?

The study identified digital marketing, data analytics, finance, management, and Artificial Intelligence (AI) as the top areas of interest for upskilling among Indian professionals.

What is the significance of the demand for upskilling in areas like AI in India?

The demand for upskilling in areas like AI indicates a significant talent gap observed in these sectors. For example, there is a 51% gap between the demand and supply of skilled AI/ML talent in India, according to a report by the IT industry body Nasscom.

How many Indian respondents are interested in upskilling through a reputable learning provider?

According to the study, 83% of Indian respondents are keen on upskilling through a reputable learning provider as it allows them to achieve their career goals.

How many countries were included in the study?

The study surveyed professionals from India as well as 17 other countries, including the US, China, UK, Brazil, Mexico, and UAE.

What is the main takeaway from the Emeritus Global Workplace Skills Study 2023?

The study highlights the urgent need for professionals in India to upskill and adapt to technological advancements to secure their careers in the face of automation and digital transformation. Continuous education and upskilling can provide a competitive edge and enhance job security in the rapidly evolving job market.

Please note that the FAQs provided on this page are based on the news article published. While we strive to provide accurate and up-to-date information, it is always recommended to consult relevant authorities or professionals before making any decisions or taking action based on the FAQs or the news article.

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