Bangalore, 6th November 2023: upGrad, Asia’s largest integrated learning, skilling and workforce development company in a most recent move has unveiled its India Career Upskilling Report Vol. 1, created under the aegis of upGrad Insights, an internal arm dedicated to identifying industry trends through independent surveys.
Drawing insights from over 3,500 white-collared professionals from Urban India, the report sheds light on the key trends in appraisals, promotions, and market opportunities, especially after a career break, while also marking a stark comparison between self and company-sponsored learning and skill-based training.
Key findings include:
● Professionals who invested in upskilling in the last 3 to 5 years saw a 2.5x increase in appraisals and 2.3x more frequent promotions.
● Benefits of upskilling extended beyond financial gains including 1.7x improved job security.
● Women who upskilled found it easier to return to work after a break and experienced 4.8x improved career stability.
● 2 out of 3 upskilled professionals were found to be parents signifying a higher upskilling rate amongst working parents.
● 48% of Individuals self sponsor their upskilling journeys with their primary focus being on technical skills (61%), online courses (55%), and professional certifications (35%).
● Employer-sponsored training mainly centers on industry-specific training (64%) and soft skills development (55%)
● People who upskilled in the past 3-5 years stayed 6x times longer in their new careers
Commenting on the launch, Mayank Kumar, Co-founder & MD, upGrad, said, “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.”
As a market leader and frontrunner, upGrad has consistently maintained a YoY enrollment growth of 100%+ across long and short-format courses. Interestingly, young professionals from both, tech and non-tech backgrounds continue to turn to Bootcamps to refresh their hard skills instantly, while Cloud Engineering, DevOps, and Full-Stack development remain popular.