Professional courses

The growing demand for professional courses after the pandemic

By Anish Srikrishna, CEO – Times Professional Learning

The pandemic has accelerated the movement towards professional development through professional courses. The growing demand for executive education signals a paradigm shift towards how working professionals are increasingly adopting a lifelong learning approach to stay competitive in the face of technological disruption.

The socio-economic disruption caused by Covid-19 has accelerated the move towards executive education, skills-based training and affordable certifications that take weeks or months rather than years. The growing demand for professional courses is being called a “Netflix moment” for professional development.

Even before the Covid-19 pandemic, there was already strong growth and adoption of professional certification programs in the market, with global IT investments reaching $18.66 billion in 2019. After the onset of the pandemic, the education technology market has grown exponentially, especially in India. Indian ed-tech startups are estimated to have received a total investment of $2.22 billion in 2020, up from $553 million in 2019. And there are no signs of the industry slowing down. By the end of the decade, India’s IT industry is expected to grow to a $30 billion market.

The pandemic has accelerated digital trends and exposed skills gaps

The pandemic has introduced unprecedented market uncertainty, forcing a massive and immediate pivot towards digital adoption and digital transformation. As we move from offline to online spaces, jobs have been lost, new ones have been created, and skills gaps have been revealed.

Even before the pandemic, disruptive technologies such as AI, machine learning, IoT, cloud computing, and automation were disrupting the job market. The business world has witnessed an acceleration of digital transformation due to the pandemic, exposing skills gaps that need to be filled as businesses transition into the new post-pandemic normal.

For most organizations, closing skills gaps will be a daunting undertaking. Gartner Inc. (Gartner) estimates that every year the number of skills needed for a job increases by 10%, and 33% of the skills needed three years ago are now obsolete.

Photo2-(3)

Professional certifications have found their relevance in Indian companies

Recognizing emerging skills gaps, many companies are training their employees in the skills they need to meet the demands of new tasks and jobs resulting from pandemic-driven technology adoption. Currently, there is a gap between the job skills people have and the skills they will need in the future. According to a study on the future of work conducted by the World Economic Forum, the Boston Consulting Group and Burning

Glass Technologies, bridging this gap is the main challenge for companies adopting new technologies.

As more businesses and professionals realize the need for lifelong learning, the demand for professional certifications is poised for serious, long-term growth. Today, since most professional certifications are delivered online or through a hybrid model that includes both online and on-campus modules, they are finding increasing relevance and acceptance among learners.

Additionally, there is ample evidence that online learning can be more effective than traditional modes. Research shows that students retain 25-60% more material when learning online and are also able to learn faster online. Students can learn at their own pace, revisiting, skipping, or moving through concepts as they please.

Along with ease of learning, working executives see professional certification programs as a pathway to new career opportunities. They enable individuals to enter new careers by providing quantifiable indicators to employers that the individual has the skills needed for the job. Professional certification programs also facilitate lifelong learning, often without the expense and time of earning a college degree. In industries highly sensitive to disruptive technologies, professional certifications offer working professionals a customizable and flexible option to stay ahead of the game.

Photo3-(2)

The future of professional certification programs

“We are entering an era where disruption is becoming the norm. Emerging technologies and changes in the workplace create a need for continuous learning. The demand for executive education and other alternative professional certifications has seen a massive increase following the pandemic. Learners are looking for shorter, more focused development opportunities. Professional certification programs are a great fit because of their cost, flexibility, structure, pedagogy, curriculum and duration,” says Anish Srikrishna, CEO of Times Professional Learning (TPL), the one of India’s leading ed-tech platforms for executive education. TPL experienced 77% growth in application volumes and 37% growth in its program offering list in fiscal years 20-21. Additionally, by FY21-FY22, the company is expected to increase its college partnerships by 225% over the number of pre-pandemic partnerships.

India’s IT sector has witnessed phenomenal growth since the onset of the pandemic. Signs are ripe that the Indian workforce is striving for lifelong learning, signaling a huge opportunity for Indian education providers to reinvent learning and meet the development demands of the workforce. In fact, Indian educational institutions are not oblivious to the growing skill needs of working professionals and are entering into collaborations and partnerships with educational technology companies like TPL to create personalized and workforce-aligned educational pathways. ‘work. Such evolution is essential in a technology driven economy where continuous upgrading is the need of the hour in the face of shortened skill life spans and continuous technological change. It is essential to achieve a better education-workforce alignment, thus preparing India Inc. for the emerging economic paradigms.

Disclaimer: Content produced by Times Professional Learning (TPL)