How Technology Can Transform The Indian Training Industry
Indian Training Industry Possibly the only Industry sector which has not scaled to its full potential after the massive privatization which happened due to India's New economic policy in Year 1991.
In last 30 years, all other industry segments have flourished in India except the Training sector. Not for the lack of Trainers or Training needs but for the lack of connect within the market. Training sector is yet to grow to the respectable size of an industry by itself.
It is a potential 32 Bn USD Industry of which only 2 Bn USD has been tapped. 30 Bn USD is the white space waiting to be explored.
Our research says that 60 percent of Trainers do not have enough jobs in Hand. 77 percent of corporate finds it difficult to reach to right Trainers. Currently available solutions are unable to solve this existing Supply Demand gap. The Training industry is structurally and technologically constrained to handle the overall training opportunities in a timely and efficient manner.
Compared to North America where the Training industry is pegged at a 100 Bn USD Market, India with its mighty 4 times the population is however estimated at just 1/50th of American market size.
To achieve overall Training demand in the country including the Government's ambitious plan of Skilling 500 Million workforces by 2022, the training industry needs a massive restructuring
What Research says
The average job occupancy of a Freelance trainer in India is about 3 to 4 days in a month. With an effective intervention, this should raise to 10-15 days a month. The only way, is by connecting all Training requirements to the right trainers on a timely & convenient manner. Technology is where solution lies.
Various Researches indicate India has 30 million unemployed youth. It is estimated that there will be about 100 million fresh entrants in the labor market by 2022. Other estimates say that every year about 12 to 15 million new workforce is entering Indian market, of which 75 percent are unskilled. The Government is able to map only a part of that workforce to proper skill development trainings.
More data says that only about 5 percent India's workforce is formally skilled as against 65 percent average between US, UK, Germany, Japan South Korea and China. This only helps to add to the current unemployed youths in the country.
We need an automated Training market place that helps to create direct connections between the supply and demand
The numbers say that the issue is not about the lack of Demand or Supply, but about being able to connect them on a timely and efficient manner.
It's high time we correct the current structural and Technological constraints in the market place. We need an automated Training market place that helps to create direct connections between the supply and demand through our realtime and intelligent requirement mapping solution.
Structurally The Indian Training System is a 3-Tier system. i.e. 1) Corporate inducts 2)Trainer through, 3) Service providers. Corporate spends X amount and expects a corresponding quality, while the Trainer receives Y amount and gives the corresponding quality. And there is always a gap between these. Any system where the quality is compromised will reflect shunted growth and needs a course correction.
We need a solution which creates primary market connect for Trainers. Live and Instant! Here the Trainer profile should be prevalidated and their schedules are preverified before connecting them to the Corporate. This avoids a lot of admin work at Corporate, thus creating a simple, robust, focused and scalable system. This is possible at large scale only using Technology.
Scooppin.com is one such technology platform where every trainer profile is parameterized to their domain and specializations. Here, the corporate will post their requirements live and the system will automatically tag appropriate trainers instant!
Scooppin uses technology to reach to the large user base. Here the cost of connecting with the larger market for each Trainer is less than the cost of their travel to each corporate to establish a connection and submit the resumes. To put it simply for the cost of one day out in the market to meet Corporate, establish relationship and submit a resume, you can access and make practically unlimited applications sitting at the comfort of your house right to the decision makers.
India is poised to be third largest economy by 2030. For that to happen the knowledge industry holds the key. Along with the research and developments, Training will play a key role in creating world class labor in the country which will attract jobs from across the world which our people will deliver in this country. For all of these to happen, the Training Industry needs urgent overhauling using Technology and automation. This will be the 'Make in India'contribution from India's Training Industry.