86 percent of employees think reskilling & upskilling will help to reduce the current unemployment ratio – survey by Genius Consultants Limited

29 August, 2023 : A recent survey conducted by Genius Consultants Limited among a diverse group of employees sheds light on the growing importance of reskilling and upskilling in the modern workforce. The survey has been conducted with an aim to understand employees’ perspectives on the value and impact of further enhancing and developing their skillset in today’s fast-paced and tech-driven world.

A substantial 86% of participants think that reskilling and upskilling will lead to a reduction in the current unemployment ratio, highlighting the potential benefits for the overall job market. However, 8% of employees disagree and bear the mind-set that it will not have any effect on current unemployment ratio.

With technology’s rapid advancement and its integration into various work processes, 88% of employees consider reskilling and upskilling is crucial for professional growth.

A significant 77% of employees hold the belief that online courses play a crucial role in facilitating skill development for individuals, whereas a mere 17% hold a contrary opinion. This is indeed an important factor to be considered as in today’s date, there are multiple portals and websites provide multiple courses for skill enhancement.

But, only 39% of respondents are of the opinion that online reskilling certifications are holding the same value as traditional institutional degrees. In contrast, 49% do not share this belief, indicating room for further awareness about the significance of online certifications. Many organizations still don’t accept online certifications as valid, which is a viewpoint that might need to be changed since we are moving towards a future where everything will be depending on technology, web and cloud.

The survey reflects strong support from employees for their organizations to provide reskilling and upskilling opportunities. An impressive 91% believe that such support will lead to an overall improvement in work quality and employee growth. Nonetheless, 6% hold a different view on this matter.

A predominant 76% of survey participants view the act of upskilling as a pathway to improved growth prospects in both salary and position within their respective companies. Nevertheless, 16% of respondents do not share this perspective.

Commenting on the same, Mr. R.P Yadav, Chairman and Managing Director said, “The survey reinforces the significance of reskilling and upskilling in a technology-driven world. As the survey indicates, it’s reassuring to note that a substantial portion of employees recognize the importance of adapting to the evolving demands of the modern work environment. By investing in our employees’ development through online courses and certifications, we not only equip them with the necessary skills but also contribute to a thriving workforce and an ever-improving industry landscape.”

Genius, as an organization, has always shown strong support for re-skilling and upskilling of talents on all levels. Through the years 2021 & 2022, Genius Consultants Limited’s CSR wing, Genius Foundation, took up an initiative with ESSCI & Ascensive Educare, and invested in the commendable initiative to improve the quality of life for young people from underprivileged backgrounds by providing them with skills in the field of home appliances and other appliance repairs. More than 60 candidates received successful training throughout the program. Several of these young people have already begun working in prestigious companies like Lloyd, Hitachi, Godrej, Havells, etc. Many of them have also begun operating as ground-level business owners and offering home appliance repair services in their community. The youths are also provided basic tool kits so they may get to work on their own without having to worry about spending money for tool kits.

The survey was floated from 14th June 2023 and closed on 25th July 2023. Its statistics are based on the feedback received from all sectors through all social media platforms – official GCL pages on LinkedIn, Twitter, Facebook & Instagram, relevant Facebook Groups, Google Free Sites (Survey Monkey, Type form, Google forms, etc.) & LinkedIn Survey Polls.