The importance of Skills while preparing for Careers

The significance of skills in the economic development process of the country has never before been in as much limelight as has been the case in the recent days. While the correlation of skills with employment has been understood for a long time, the emphasis on skill transformation has been recent which is on account of several reasons including the following:

• Unlike the past century, the current century- particularly the last 50 years has made it convenient for population to migrate with the resultant opportunities created for setting up new enterprises with new ideas and also seeking new skills to meet the new requirements
• The blending of technology in different sectors and the onset of new path breaking digital technologies impacting every conceivable sector has resulted in new businesses being created or old businesses being refashioned on the strength of new skills
• Customer requirements have become sophisticated over the years and servicing them require higher caliber specialized skills in every conceivable sector
• Dwindling and ageing population in some countries, especially the Scandinavian countries, Japan etc. have led to shortage of people and skills in these countries.
• In the past, expertise in skills was passed on from one generation to another and generally stayed with the family or the village, however with urbanization and transition to newer careers, not only the traditional artisan related skill sets but the supply of even the basic life support skills has become limited.
• The recognition of the governments and the employers that education may not necessarily translate into skills and millions of those educated require not just one time skill but would require ongoing support to upgrade their skills to stay employed and productive

India like rest of the world has to contend with various shades of these challenges, however the challenges present themselves with a significant opportunity to establish India as the dominant skills provider to the world at large. As per BCG Report, globally, there would be a shortage of 47 million skilled workers by the year 2020 and in India alone in this timeframe there would be an excess of 43 million skilled labour supply. Hence this is the time for the youth of the country to recognize the significance of skills and get geared for their careers with the right skills. Education is certainly important to create the foundation for life but so are the skills without which careers cannot be built.