By; Aveek Majumdar (Professor of Practice- Paari School of Business, SRM University – AP, Andhra Pradesh)
Andhra Pradesh, [India], December 9, 2024: The global workplace is at a crossroads. According to the World Economic Forum’s (WEF) Future of Jobs Report, 23% of jobs will undergo fundamental changes in the next five years, forcing millions to transition from existing job roles to new opportunities. In today’s evolving scenario, career progression depends on more than tenure (or experience) or educational degrees. A recent McKinsey study highlights that focusing on skills, not credentials, can improve internal mobility, retention, and diversity while unlocking employee growth opportunities. Organisations and individuals must embrace skill-based development, which aligns workforce capabilities with the future demands of the labour market.
In this dynamic scenario, India’s workforce must embrace reskilling to remain relevant. The challenge lies in aligning this reskilling revolution with practical pathways that cater to individual and organisational needs.
Understanding the Reskilling Revolution
The World Economic Forum (WEF) emphasises two essential components for a successful reskilling strategy:
- Mapping viable job transitions
- Finding pathways that align with worker aspirations.
As jobs evolve, employees must be encouraged to identify opportunities where their current skills overlap with emerging roles, bridging any gaps through structured interventions. In India’s context, lower-skilled workers in IT support services or administrative roles could transition into higher-demand areas like data analysts for healthcare or customer service in tech-enabled industries. Mapping transitions requires leveraging tools that measure job fit based on skill similarity. For instance, a data analyst might seamlessly move into business intelligence with minor upskilling. These frameworks ensure workers understand their options, while organizations can identify roles that maximize employee potential.
Skill-based career advancement is a win-win for employees and employers. By mapping clear roles, aligning interests, addressing skill gaps, and implementing targeted training, organisations empower their workforce to meet future challenges. For professionals, this approach opens doors to meaningful growth and lifelong relevance.
Competency-Based Frameworks: Learnings from My Time at Nielsen
When I worked at Nielsen, the global information and insights major, we implemented a competency-based framework for our client-facing associates and back-end analysts. This framework mapped clear pathways for career advancement by identifying the skills required to move from current roles to desired positions. For instance, client-servicing associates aspiring to move into strategic account management were guided to enhance core competencies like negotiation, stakeholder management, and relationship-building. On the other hand, back-end analysts aiming to transition into advanced data analytics roles were guided to develop technical proficiencies in statistical tools, data visualization platforms, and problem-solving methodologies.
The process wasn’t solely focused on current job requirements; it also incorporated 21st-century skills and future-ready capabilities. Skills like critical thinking, adaptability, and digital literacy were included as foundational pillars. These were paired with future skills such as data storytelling, data-driven decision-making, and project management in agile environments, ensuring relevance in an evolving business landscape.
The approach for the L&D programme was inherently collaborative. Nielsen employees were encouraged to actively participate in shaping their career trajectories. Through mentorship programmes, structured learning modules, and exposure to cross-functional projects, associates gained the exposure to align their aspirations with organisational objectives. L&D interventions were designed to be flexible, catering to individual preferences and industry demands, with timelines and learning paths customised to fit diverse needs.
Skill-Based Learning Programmes: A Roadmap for Professionals
Indian professionals, particularly those in mid-level/ mid-career positions, often face the dual challenge of staying relevant while navigating career stagnation. Focused skill-based programmes can bridge this gap. I recently wrote an article on why middle managers must embrace skill upgradation to stay relevant in the labour market. I mentioned in that article that well-structured management development programmes (MDPs) are invaluable. MDPs provide a structured, practical path for middle managers to bridge the gap between current competencies and the demands of the future.
Inspired by the WEF’s insights from the Future of Jobs for All Report, here are some actionable steps for consideration:
- Mapping Future Roles: Organisations must define potential career trajectories for their employees. A transparent roadmap fosters clarity and motivates individuals to engage in lifelong learning.
- Assessing Skill Gaps: Organisations should invest in creating their job-fit algorithms that can evaluate transferable skills and identify gaps. At Nielsen, this assessment helped associates envision transitions they hadn’t previously considered.
- Structured Interventions: Targeted MDP programmes combining job shadowing, e-learning courses, and mentorship can accelerate learning. For example, a six-month training initiative might pair technical skills development with leadership coaching.
- Incentivizing Learning: Organisations that promote skill-building through dedicated learning hours or rewards see higher engagement. Indian companies must normalise skill development as part of their work culture.
The Organisational Imperative
Skill-based reskilling isn’t just about personal career growth; it’s critical for the organisation’s success. As the WEF report highlights, aligning reskilling strategies with industry shifts can significantly enhance productivity, drive innovation, and strengthen employee resilience. At Nielsen, I witnessed this firsthand through the targeted upskilling interventions. By mapping competencies to current demands and future opportunities, we equipped employees with the tools to thrive in evolving roles. For example, training programs for client servicing associates bridged skill gaps and aligned with business priorities, fostering more strategic client relationships. Similarly, upskilling back-end analysts in data analytics created a talent pool adept at handling the growing demand for data-driven insights.
For Indian organisations navigating rapid change, adopting such skill-based frameworks is essential to futureproofing their workforce and maintaining competitiveness in an ever-evolving business landscape.
Building a Culture of Lifelong Learning
Reskilling requires a mindset shift. Indian professionals, especially mid-career professionals, often perceive learning as a one-time effort. Changing this perspective will require:
- Encouraging peer learning and collaboration.
- Offering financial support or incentives for professional courses.
- Leading by example, where leadership actively participates in learning initiatives.
By implementing focused learning and development programs, organizations can confidently empower their employees to navigate career transitions. My experience at Nielsenunderscores this: reskilling, when done thoughtfully, is transformative, not just for individuals but for the organizations that invest in them.
The future of work will reward those who are adaptable, curious, and resilient. For India to stay ahead in the global reskilling revolution, we must prioritize skill-based learning as an integral and continuous journey. Well-structured Learning and Development (L&D) programs, primarily through targeted Management Development Programs (MDPs), are key to fostering this transformation. MDPs bridge the gap between industry demands and workforce capabilities by providing tailored interventions that combine technical, leadership, and future-ready skills. These programs enable professionals to navigate career transitions effectively, preparing them for roles shaped by technological advancements and shifting market dynamics.
Indian companies must commit to designing robust, competency-driven frameworks embedded within their L&D strategies. By focusing on structured reskilling and upskilling interventions, Indian businesses can nurture a workforce ready to embrace change, drive innovation, and lead with confidence in a rapidly evolving global economy.
