A news article published in the Times of India this year provides statistical information on the skill gaps in the Indian workforce today. India is facing a severe manpower supply shortage due to the increasing skill gaps.

According to the report, 49% of professionals between the ages of 20 and 25 are employable, which is a meager rate. On the other hand, 76% of the global workforce must be equipped with the requisite skills to face the demands and the changing environment.

It is time for digitization, and the increasing use of advanced technology comes with challenges. 75% of industries in India belonging to the technological sector, face skill shortages.

Manpower supply shortages in India

Digitally skilled professionals are a criterion for a company's continuous growth and progress. India needs more than 30 million digitally skilled professionals by the year 2026.

And according to the report, more than 50% of the current workforce needs to be reskilled in this department.

In India, manpower supply, when it comes to the number of workers available, is not an issue at all. Given the large youth population, we are well-equipped to supply laborers as much as possible. However, the issue is that everything is going online after the pandemic, and it is all about understanding the software and the digital environment. Right now, over 2 million jobs need to be filled in the technology sector comprised of artificial intelligence, Blockchain, etc.

The solution focuses on reskilling and providing strategies that will help sustain the company's growth. As per another news article, one of the main reasons behind the lack of skills is the inadequate education and training given to all professionals in the workplace and their academic journey. The other reason is the mismatch of skills with the job roles provided to these employees. Many of us take up jobs because of the money or the brand image. But most of us are disengaged as we hardly understand how to do the job correctly.

Navigating different Solutions

• To address the skill shortages in India, it is imperative first to understand the situation and then navigate different HR solutions related to training and education.
• Address the problems in learning and development. Provide the training required to increase specific skills of employees.
• Match the skills with the job roles given. Use expert advice and external agencies who support companies in getting specifically skilled manpower to increase productivity and performance.
• As a company, investing in learning and development is crucial. Training, personality test, and behavioral assessments are crucial to understanding the motivations of the current workforce. The expectations and skill levels of the current workforce are different from before.
• Technological training for all employees is critical. We live in a digital world where information is transferred online. This is why training should also be provided in a flexible format that combines face-to-face and online platforms. Utilize VR and ML to equip your employees with the knowledge that will help them navigate and use these advanced technological systems.
  

Conclusion

India's current skill shortages are a severe problem holding back the country's economic growth. We are one of the fastest-growing economies with the largest population in the world, and yet we do not have the skills to support our economy or become a developed country. The first step is to ensure that the manpower supply will never seize, as we will have the skills required to address the current demands. This can only be possible with the help of experts in the field who can provide training to our existing workforce to maintain long-term sustainability.