Upskilling Leads To 2.5x Appraisal Increase For Urban Professionals: Report
A report on Monday revealed that upskilling has become a pivotal factor in the career trajectories of professionals in Urban India.
One of the most striking findings in the report is the significant boost in appraisals and promotions for professionals who have actively pursued upskilling in the last 3 to 5 years. These individuals witnessed a remarkable 2.5x increase in their appraisals, underlining the direct correlation between upskilling and financial rewards.
Moreover, they enjoyed promotions at a rate 2.3 times higher than their non-upskilled counterparts.
The benefits of upskilling extend far beyond monetary gains, with a 1.7x improvement in job security for those who have invested in enhancing their skill sets. This suggests that professionals who continuously update their knowledge are better equipped to adapt to changing job demands and are, therefore, less vulnerable to job instability.
For women professionals in Urban India, upskilling proves to be a career game-changer. Those who pursued upskilling found it easier to re-enter the workforce after a career break and enjoyed a staggering 4.8x improvement in career stability.
The upGrad report also highlighted that parenthood is no longer a barrier to career advancement. In fact, it demonstrates that 2 out of 3 upskilled professionals are parents, indicating a higher rate of upskilling among working parents.
The report also shed light on the contrast between self-sponsored and company-sponsored upskilling. While 48 per cent of individuals choose to self-sponsor their upskilling journeys, they primarily focus on acquiring technical skills (61 per cent), engaging in online courses (55 per cent), and obtaining professional certifications (35 per cent). On the other hand, employer-sponsored training primarily centers on industry-specific training (64 per cent) and the development of soft skills (55 per cent).
