Sumesh Nair, an alumnus of S. P. Jain Institute of Management and Research (SPJIMR) is the co-founder of Board Infinity, a Full Stack Career Management platform. Sumesh Nair, a highly talented and dynamic young entrepreneur has a great understanding of the various facets of business operations across industry verticals. He has in depth understanding of the higher education institutes like IITs, IIMs, SPJIMR, XLRI, ISB, newer IIMs and closely works with XLRI Jamshedpur, IIM Sambalpur, IIM Sirmaru, Lovely Professional University and similarly round 400 colleges across the country. These are partnerships with them or else students/alumni from these colleges directly approach the platform. A huge network has been created in business, technology& management schools as well as directly with the relevant target base through internet channels. Sumesh under his leadership has been able to forge these strategic partnerships & created a scalable platform to onboard industry professionals and make them a part of Board Infinity.
Technology has transformed the way businesses operate. As a consequence, there has been a paradigm shift across industries concerning job demands. Today, companies hire people based on their skill set, often overlooking those with several degrees but no understanding of business processes.
However, there is a demand-supply gap. In India, there is a popular opinion that companies get several applications for a particular vacancy which leads to unemployment. This is partly true. Yes, companies do receive several applications for a post. But this does not mean that they get to choose from a collective of people who are equally good for the job. A large number of candidates are usually not even the threshold a company is looking for.
According to the latest India Skills Report*, not even half the Indian graduates are employable as they lack the skills in demand. A mere 45 percent of 2021 graduates were found to be job-ready, according to the study. Therefore, at times, companies have to go with candidates who don’t necessarily have the right skill set but just show promise that they can learn things on the job.
The primary reason behind this is our education system which somehow missed the bus and couldn’t keep pace with the changing world. While the new education policy may bring a positive shift, the landscape won’t change overnight. It will take time.
So, how to bridge this gap? The answer lies in e-learning.
Experts have been advocating it all along but the Covid pandemic actually showed employers how e-learning courses reduces their input costs and makes their workforce agile. During the pandemic, companies were forced to do a majority of physical tasks virtually. This prompted businesses to make their employees more up-to-date with technology.
The results were overwhelmingly positive. A large number of companies used e-learning platforms to train their workforce and keep their operations smooth. This enabled them to digitalise several of their business processes, streamlining operations and bringing more accountability into their systems.
The learnings of the global pandemic for business have catapulted a transformation that was about to happen anyway, albeit more gradually. In an increasingly mobile world, e-learning courses have increased the speed of knowledge transfer, providing an efficient way for companies to embrace advancing technologies.
The many advantages of e-learning
Online learning platforms offer a host of benefits to businesses. These include greater accessibility, reduced training time, improved retention rates, and cost savings from fewer travel expenses; among others. E-learning enables businesses train a larger number of employees and enhance their critical skills. This has a direct impact on business productivity.
E-learning courses are not limited to teaching just technical skills. Companies have been using online courses to better the communication and leadership skills of their employees as well. Besides, online platforms offer an array of courses but they don’t work with the usual one-size-fits-all approach. The courses are tailored for your business needs. So, employees don’t waste time learning the skills they hardly need for their job.
Acknowledging the need to upskill existing employees and training recruits, bigwigs like the Tata Consultancy Services have shifted to e-learning mode for training new joiners. It has helped them save a huge cost and increase productivity as well, primarily because e-learning platforms provide one-to-one feedback and adapt to learner needs. These benefits are not possible in traditional in-person training.
Need of the hour
As these online learning platforms are budget-friendly, even MSMEs have begun deploying them to upgrade the skills of their employees. E-learning has become more than just a way to train employees to adapt to advancing technologies but a business strategy that will help you stay on top of the competition.
A recent report by Amazon Web Services* suggests that Indian workers will need to develop seven new digital skills by 2025 to keep up with technology advancements and industry demand. Therefore, in the coming months, more companies will follow suit and leverage e-learning platforms for their benefit as the need for employees to develop digital skills will keep rising in India.
Surely, a churn is in the offing. Talk to any HR expert or business leader and you will know how upskilling employees has become an integral part of their growth blueprint. The rise in consumer spending and greater penetration of the internet has opened up untapped markets and created new opportunities. The companies that have a better-prepared workforce will be miles ahead of those who cling to their old methods.
Leveraging e-learning courses to increase employee productivity and switch to more efficient ways of working will give a company a clear edge over its competitors. The laggards, on the other hand, may find it hard to even stay afloat. The choice is simple.