85% India Inc Optimistic About Promotions, Career Changes or Salary Hikes In 2024

Simplilearn, an online bootcamp for digital skills, has unveiled key insights from its 2024 State of Upskilling consumer survey. The survey highlights the dynamic landscape of upskilling and professional development for working professionals and CXOs across industries. It explores shifting perspectives on career advancement, upskilling priorities, and the evolving landscape of the digital economy.

The survey has been conducted among professionals from diverse industries, geographical locations, and career stages. The 2024 Consumer Survey reveals significant changes in learner attitudes compared to 2023. In 2024, 65 per cent of professionals preferred part-time or online certifications, significantly increasing from 51 per cent in 2023. Conversely, the percentage of professionals opting for self-study increased marginally to 25 per cent in 2024 (compared to 23% in 2023). Similarly, the inclination towards full-time college enrollment declined significantly, dropping 2 per cent in 2024 from 7% in 2023. This shift highlights a declining dependence on traditional educational routes among professionals, indicative of a broader trend favoring upskilling platforms.

Insights From the Simplilearn 2024 Consumer Survey Report:

• Career Expectations: 85 per cent of the respondents actively seek career changes after upskilling, reflecting a dynamic job market.
• Upskilling Trends: A staggering 45 per cent of respondents cite the need to upskill to leverage new opportunities in their company or desired field.
• Preferred Upskilling Methods: Among those seeking to upskill, 65 per cent prefer enrolling in part-time online programs or courses, emphasizing the importance of flexible learning options.
• Top Digital Economy Skills: Data science and business analytics, artificial intelligence and machine learning, program and project management, cloud computing and DevOps, cyber security, product management, and software development emerged as the most sought-after skills among respondents, highlighting the demand for expertise in cutting-edge technologies.

Insights on Respondents:

• Gender Breakdown: Male respondents constitute 67 per cent, while female respondents comprise 31 per cent of the survey population, with 1% prefer not to disclose.
• Job Levels: Most respondents (53%) identify as individual contributors, followed by managers (28%) and students (15%).
• Industry Distribution: Technology and computers lead with 39% representation, followed by banking, financial services, insurance (11%), and healthcare & life sciences (8%).

Sharing thoughts on the survey, Kashyap Dalal, Co-founder and Chief Operating Officer of Simplilearn, said, "In the dynamic and ever-changing landscape of the IT industry, characterized by market deceleration and frequent disruptions, it is imperative for professionals to upskill for the future. A staggering 65% of respondents are engaged in online certification courses, with 97% affirming that upskilling will significantly augment their career prospects by 2024. These statistics underscore the criticality of upskilling, particularly in burgeoning fields such as data science, AI, and cybersecurity, which are poised to flourish in today's digital economy."

As technology reshapes industries and job roles, professionals prioritize continuous learning and skill enhancement to succeed in the digital economy. Simplilearn remains committed to empowering professionals with the skills they need to succeed in today's rapidly evolving job market.