Summary
Professional growth is all about constantly learning, acquiring new skills, and becoming proficient in various areas
The World Economic Forum predicts that an investment in upskilling could boost the global GDP by $6.5 trillion by 2030. Hence WEF predicts that by 2025, nearly half the workforce globally will need upskilling
"Give a man a fish, and you feed him for a day; teach a man to fish, and you feed him for a lifetime." – Maimonides
Upskilling or reskilling is like teaching yourself to fish for life. Upskilling involves enhancing existing skills to keep up with evolving demands. In contrast, reskilling involves learning new skills to transition into a different role or industry.
In a world propelled by rapid technological advancements and ever-evolving industries, the landscape of professional growth has undergone a significant transformation.
Professional growth is all about constantly learning, acquiring new skills, and becoming proficient in various areas.
Operations Management has a concept of Kaizen. Masaaki Imai penned the book 'Kaizen: The Key to Japan's Competitive Success", through which he introduced the concept of Kaizen to the Western world. "KAIZEN™ means improvement. Moreover, it means continuing improvement in personal, home, social, and working life. When applied to the workplace KAIZEN™ means continuing improvement involving everyone – managers and workers alike." - Masaaki Imai, Founder of Kaizen Institute.
As defined by Masaaki Imai, continuous improvement in personal life is crucial to bridge the skill gaps caused due to technological advancements. We need to continuously update our knowledge and improve our skills to match the pace with the changing world, or else we risk becoming obsolete.
Platforms like online courses, webinars, and virtual workshops have democratised access to education. Professionals can now learn new skills at their own pace, fitting learning into their busy schedules. Growth opportunities are abundant, whether it's acquiring coding skills, mastering data analysis, or developing soft skills like communication and emotional intelligence.
The World Economic Forum predicts that an investment in upskilling could boost the global GDP by $6.5 trillion by 2030. Hence WEF predicts that by 2025, nearly half the workforce globally will need upskilling.
According to Forbes, 'This future workforce must adopt an agile philosophy: continuous improvement and optimisation as needs arise over time. One of the best ways to ensure this agility is to embrace upskilling, steadily learning new skills that can be applied in their work and to fulfil newly created roles and jobs'.
Recognising this need of the hour, companies are investing heavily in upgrading the skills of their employees and in training and development activities. The investment will boost employee morale and ensure that the organisation remains agile in the face of technological disruptions.
In the hustle culture, with innovative start-ups emerging from all over the world, partaking in this culture becomes possible; instead, gaining an advantage in this culture becomes probable through acquiring the correct knowledge and skills.
Solopreneurs or start-up founders must understand business functions, economic policies, legalities, and compliances.
Due to critical problems like lack of funds, availability of resources, time constraints, family responsibilities, or the need to upskill or pursue higher education, professionals tend to divert from upgrading their skills.
But today, due to the advent of technology and easy accessibility facilitated by the Internet, education has reached our fingertips. Online courses, digital classrooms, and virtual learning have revolutionised how we gain knowledge and information.
Here's what makes these online courses lucrative -
Enhanced career prospects: They provide a platform to improve career prospects by acquiring new skills and knowledge. They make you competitive in the job market and increase your chances of getting hired by top companies.
Practical exposure: Online upskilling programs from top educational institutions like IIMs, XLRI or MIT School of Distance Education emphasise practical learning by including case studies, group discussions, project work, and internships. It helps you gain valuable exposure to the business world and develop skills required for real-life situations.
Flexibility: Online learning programs are to the point and add value to your resume. The distance learning model does not require students to attend offline classes. The online courses are primarily self-paced. Hence it offers complete flexibility.
Networking opportunities: These programs offer opportunities to connect with industry professionals, alums, and peers from different domains or areas of interest. It helps you to build a solid professional network and gain insights into the industry.
Affiliation: Universities or Government-recognised reputed institutes like IIMs, Welingkar, Narsee Monjee Institute of Management or MIT School of Distance Education award you a certificate of completion or a degree, which makes you an alum of the institute.
Higher salary: An online program from a recognised institute increases the earning potential of individuals.
Credibility & Recognition: Courses & certifications from reputed and government-recognised institutes have worldwide acceptance.
The business world is constantly changing; the skills that are relevant today may become obsolete tomorrow. Hence, constantly upgrading your skills to avoid stagnancy in your career is crucial.
Last updated on 06 Sep 2023
