66% employers looking for different skills than three years ago’

66% employers looking for different skills than three years ago’

1. A new study released by the International Labour Organisation in collaboration with the International Organisation of Employers has revealed recruiting people with relevant skills is a major challenge for businesses in India.
2. The report has revealed that 66% of Indian businesses look for quite different skills in new recruits than that they looked for 3 years back. The major reasons behind low employability of graduates is backdated education curriculum which do not match industrial needs. Further, automation has emerged as a new challenge which has threatened the informal sector.
3. Globally, 60% of employers have opined that new graduates are not adequately prepared for current work. The report has further noted that by 2020 there might be a global shortage of 38-40 million highly skilled workers. However, there would be a potential surplus of 90-95 million low skilled workers. This imbalance is likely to adversely affect both developed and developing countries.
4. The International Labour Organization (ILO) is the United Nations agency for the world of work. The functions of ILO include: a) setting international labour standards, b) promoting rights at work and encouraging decent employment opportunities, c) enhancing of social protection for workers and d) strengthening of dialogue on work-related issues.
5. International Organization of Employers (IOE) is the largest network of private sector in the world. It represents the interests of business in the labour & social policy fields.