Importance of Skilling

By: Flexing It, 26/08/2022

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IMPORTANCE OF SKILLING 

The pandemic upended everything we were standing on, and for many of us, this has affected our career and personal objectives. As a result, a lot of professionals are now wanting to upskill or reskill in order to expand their skill set or change their career entirely.

It is undeniable that the economy is changing quickly. With that, the rate of technological advancement keeps accelerating, and the demands placed on labor in today's worldwide society continue to rise. Many modern businesses and workers aren't prepared for tomorrow's demands, let alone today's.

According to a McKinsey survey, nearly half (44%) of respondents believed that skills gaps would inevitably exist in their firms during the next five years. Another 43% addressed that their businesses were already facing major skill gaps.

Digital advancements across industries, a widening talent gap globally, rising market instability, and distinctive workforce demographics had all been alarming for some time. The 2020 pandemic merely intensified these factors and the demand for a workforce that is prepared for the future.

Because of the severe skills gap issue, 58% of employees require new skills in order to perform their jobs properly, according to a recent Gartner study. A crucial answer to this problem is upskilling, the process of increasing a worker's skill set often by adding to an existing body of knowledge.

“In today's environment, hiring is not possible for many organizations. Instead, companies can look at current employees who have skills closely matched to those in demand and utilize training and contractual workers to close any gaps.” said Alison Smith, director of the Gartner HR practice in 2020. 

A career change is not only welcomed but also anticipated in the modern workplace, which is increasingly changing into that landscape. The majority of firms are taking action to meet their talent needs, frequently by combining various measures including redeploying employees into new positions and hiring contract or freelance workers.

Employers provide a safety net for full-time employees, so they don't have to worry about securing work because it is provided for them. To increase their chances of landing their next gig and getting paid well, freelancers must, too, stay on top of the most in-demand abilities.

In the next five years, up to 40% of the Indian workforce would undergo reskilling, according to a NASSCOM estimate.

The goal is to stay current with market demands, boost earnings, and secure the future of your freelance profession. In this constantly evolving market, failing to pay attention to developing your talents may soon render a freelancer obsolete.

Technology opens up significant economic opportunities, but it also leaves skills shortages, notably in the manufacturing, healthcare, and construction sectors, where there is a specific need for qualified personnel. According to a report by Indeed, the top five paying freelance jobs in India include Php Developer, Recruiter, Business Development Executive, Content Writer, and Digital Marketer.

In order to distinguish yourself from your peers as a freelancer, you would want to always be at the top of your game. For a variety of reasons, freelancers take on different kinds of projects. According to a Flexing It report, Freelancing is a profession of choice, driven by a desire for greater flexibility (24%) and to build a brand as a specialist (21%) followed by the desire to earn the full value of their skill (19%). For the money, to add to their resumes, to test out different types of work that can advance their skills, and for a number of other reasons. Reading books, articles, and watching educational videos will help you develop your career and make you a better professional in your own niche. The likelihood of finding work increases with the skill set. The likelihood of landing well-paid projects increases when talents are honed and in demand. To start your journey to upskill yourself, some of the go-to methods for a freelancer would be-

  •  Add on courses, 

  • Workshops

  •  Seminars

  • Working under professionals

Build contracts in the industry, and so on. Taking up relevant projects is yet the best way to upskill yourself as:

  1. It gives you a hands-on experience to apply the skills that you have been trying to work on

  2. It gives you an avenue to nurture your skills by following your peers by looking at the way they are performing their job- you can also discover a better and more effective approach to meet your deliverables.

The economy is more adaptable to the upcoming changes the more freelancers there are in it. The people who care the most about their skills are given the responsibility of reskilling themselves, which is in many respects a healthier approach to a fast-paced economy.

 



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