School
Skilling workers will keep the business relevant
Majority of Indian workers do not go through skill learning courses or degrees. Schools only focus on academic curriculum. It affects the quality of employment as well as businesses.
As per Business Standard:
Over 70 per cent of India’s workforce is concentrated in firms with less than 20 employees. Studies carried out in 2016 as part of an Asian Development Bank report suggest that micro-firms are 72 per cent less likely to train their workers. Similarly, while 80 per cent of India’s workforce is employed in informal firms, only 3 per cent workers are formally trained.
K P Krishnan Writes in Business Standard, “the pandemic has also rapidly altered the nature of work. As workplaces increasingly shift to a hybrid mode of functioning — new kinds of job roles have emerged and a number of jobs have become redundant. New kinds of skills have become more valuable. For example, digital skills, which were considered transferable skills or soft skills until recently, have now become a core foundational skill — as important as literacy or numeracy.”
With the arrival of gig economy and contractual work trends, employers do not train the workers. Workers do not upgrade themselves, while businesses compromise on quality of workers. Ministry of Skill Development and Entrepreneurship provides skill loans to workers.