Navigating uncertain job markets through upskilling

Like most of the world, the Indian economy has also felt the aftereffects of a recession—soaring unemployment, economic instability among others. While signs of recovery have emerged, it is still important for individuals to prepare themselves for an uncertain future, particularly by acquiring relevant skills.

The demand for skilled workers in India is growing, however, and there is a shortage of 25 million skilled workers in the country. This means that there are many opportunities for people who are willing to upskill or reskill. Here are five realms through which this can be achieved.

Accounting and Financial Management

Regarded colloquially as recession-proof careers, accounting and financial management are one path to consider. A comprehensive course in this field will equips individuals with the fundamental skills of financial accounting, taxation, and banking.

Employers highly value candidates with practical knowledge in accounts and finance, making it a sought-after qualification for stable, white-collar desk jobs. The average salary for an accountant in India is ₹45,000 per month.

Digital Marketing

For most businesses today, having a digital marketer has become essential. A practical digital marketing course offers hands-on training in SEO, social media marketing, content creation, and analytics. Proficiency in digital marketing opens doors to a wide range of job opportunities and allows graduates to adapt to the dynamic industry landscape. The average salary for a digital marketer in India is ₹35,000 per month.

Artificial intelligence

AI or artificial intelligence skills have the potential to significantly boost employability in today's technology-driven world. Familiarity with major AI tools empowers graduates and professionals alike to use AI capabilities in various domains, such as automation, productivity enhancement, and cost reduction. Acquiring AI skills, positions individuals as valuable assets for organizations seeking innovative solutions to drive growth and efficiency in an AI-driven future. The average salary for an AI professional in India is ₹60,000 per month.

Data Analytics

Proficiency in data analytics is highly sought after in today's data-driven world. Courses covering tools like SQL, Power BI, and Tableau enable graduates to collect, analyse, and interpret data for data-driven decision-making. Companies across industries rely on data analytics to identify trends, optimize performance, and gain a competitive edge. The average salary for a data scientist in India is ₹75,000 per month.

Project Management

With businesses prioritizing resource optimization and efficient project execution, project management skills are in high demand. Courses covering project management methodologies like Agile or PMP® certification provide graduates with the ability to plan, execute, and monitor projects effectively. Project management skills demonstrate leadership, and the ability to meet deadlines, and deliver successful outcomes. The average salary for a project manager in India is ₹50,000 per month.

In a volatile job market, individuals must equip themselves with practical skills that align with industry demands. Courses in accounting and financial management, digital marketing, AI applications, data analytics, and project management offer the necessary expertise to thrive amidst economic challenges. These courses provide individuals with a competitive edge, enhance employability, and expand career prospects. By investing in practical education and continuous skill development, individuals can navigate the uncertainties of the job market with confidence, ensuring resilience and success in the face of future economic uncertainties.

Ankit Shyamsukha, CEO, ICA Edu Skills, and, Founder IDCM.