Every year over 30 Mn College Going Students require skill development to be Job Ready, will India able to solve this problem? : Ken Research
India Career Skilling industry, which is growing at unprecedented rate as there is a clear expectation mismatch from Employer and Students even after attending higher education.
1. Every year 9.2 Mn students graduate from colleges, majority of them are looking for formal job but only some are able to secure one
- Lack of tie ups / employers hinder job opportunities of tier 2, 3 and 4 colleges with placement Agencies
- Lack of course comprehensiveness / counselling that can guide them on how to perform the job KRAs
Click to Read Full Article: Unemployment Reasons Among Graduates in India
2. Strong Rise in Demand for Online Courses seen from Working Professionals & Graduates.
- Strong Rise in Demand for Online Courses seen from Working Professionals & Graduates is presenting an opportunity for an Ed-tech Platforms.
- Out of 5-6 Mn 0-1 yr. Graduated working professionals, ~ 40% 5 are interested and have taken part-time Specialized Up-skill courses
- 40% new entrants have already invested up to 30K on Career Skilling Courses. 65% of the new entrants are open to paying a premium up to 10% and willing to pay more basis role, industry domain, existing salary and brand equity etc.
- Newly recruited individuals prefer shorter course durations, with ~ 60% choosing up to 3 months
- 46% of the new entrants are aware of career skilling platforms and have already opted for a course wherein Major Platforms included Coursera, Udemy, EdX, Future Learn, UpGrad & Edureka.
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Rising focus towards free learning content to onboard users & introduce them to online learning were the strategies adopted by such players to evolve in the lockdown situation. For example, UpGrad launched a host of free courses under the brand name of Upstart and has recorded 26,000+ enrolments for 350 hours of such courses. Major type of courses chosen by graduates and undergraduates are: Team Management, Business Communication & Leadership. In Tech: Majorly Advanced Level of Data Science, Design and Programming
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3. COVID-19 accelerated Trend in adoption of Online Learning in India
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Rising focus towards free learning content to onboard users & introduce them to online learning were the strategies adopted by such players to evolve in the lockdown situation. For example, UpGrad launched a host of free courses under the brand name of Upstart and has recorded 26,000+ enrolments for 350 hours of such courses. Major type of courses chosen by graduates and undergraduates are: Team Management, Business Communication & Leadership. In Tech: Majorly Advanced Level of Data Science, Design and Programming
