According to ET article dated Nov 6, 2023, One of the leading reports stated that people who self sponsored their upskilling were up to ten times more likely to switch companies than those who were employer-sponsored. In the same breadth, it also says that three out of five upskilled professionals get promoted annually, while only one out of five who don’t upskill achieved the same.

Few more interesting facts on upskilling:

According to ET article dated Nov 6, 2023, One of the leading reports stated that people who self sponsored their upskilling were up to ten times more likely to switch companies than those who were employer-sponsored. In the same breadth, it also says that three out of five upskilled professionals get promoted annually, while only one out of five who don’t upskill achieved the same.

a. People who invested in upskilling on the past five years has 2.5 x better appraisals than those who didn’t.
b. People who upskilled in the past 3-5 years reported 1.7x more job security than those who did not.
c. People who skilled in the last 3-5 years stayed 6x longer in their new careers.
d. Returning women who invested in upskilling saw more confidence and personal growth.
e. Upskilling also equips individuals to navigate through new careers smoothly.
f. Upskilled professionals tend to secure better salary packages after making a career change.

Startups/SMEs are also making investments/sponsoring in skilling their employees and tend to invest around INR 31K per employee in upskilling them. While MNCs, the amount is around INR 1.09 lacs per employee