In a recent development, upGrad, Asia’s leading integrated learning, skilling, and workforce development company, has released the India Career Upskilling Report Vol. 1, developed by upGrad Insights, an internal division dedicated to tracking industry trends through independent surveys.
The report is based on insights gathered from over 3,500 white-collar professionals in urban India and sheds light on key trends in appraisals, promotions, and market opportunities, with a specific focus on individuals who have taken career breaks. It also explores the comparison between self-funded and company-sponsored upskilling and skill-based training.
Key findings from the report include the fact that professionals who invested in upskilling over the past 3 to 5 years witnessed a substantial 2.5 times increase in their appraisals and 2.3 times more frequent promotions. The benefits of upskilling extended beyond financial gains and included a 1.7 times improvement in job security. Additionally, women who engaged in upskilling found it easier to re-enter the workforce after a career break and experienced a remarkable 4.8 times improvement in career stability.
Furthermore, the report highlighted that nearly 2 out of 3 upskilled professionals were parents, indicating a higher rate of upskilling among working parents. In terms of self-sponsored upskilling journeys, 48% of individuals focused on technical skills (61%), online courses (55%), and professional certifications (35%). On the other hand, employer-sponsored training primarily centered on industry-specific training (64%) and soft skills development (55%).
Notably, individuals who upskilled in the past 3-5 years tended to stay six times longer in their new careers. Mayank Kumar, Co-founder & MD of upGrad, emphasized the growing significance of upskilling in the corporate world and its role in driving industry growth. He stated, “Upskilling, unlike yesteryears, has now become a clear driver of growth in our industry and this report is the reflection of what India’s corporate ecosystem collectively, continues to achieve. The genesis of the report stems from the evolving learning patterns emerging out of metros and non-metros, signifying a wider adoption amongst senior professionals and parents who are realizing that lifelong learning is the key to long-term success.
It’s also a reminder that long-lasting jobs are fading and the only way to embrace opportunities is through continuous learning. As we progress from here, the growing acceptance shall continue to power India’s transformation into a talent capital on the global stage.”
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As a market leader, upGrad has consistently achieved a year-over-year enrollment growth of over 100% across a wide range of long and short-format courses. Notably, young professionals, both in tech and non-tech fields, continue to turn to Bootcamps for rapid enhancement of their hard skills, with Cloud Engineering, DevOps, and Full-Stack development remaining highly popular choices.
