PWG Business News: Your Gateway to Market Intelligence
PWG Business News is committed to providing real-time updates and expert-driven insights across various industries, including technology, healthcare, finance, energy, automotive, and consumer goods. We deliver carefully curated news, financial reports, and research-based updates, helping businesses and professionals stay informed and competitive in today’s dynamic business environment.
Our News section covers industry-shaping events such as market expansions, new product launches, mergers and acquisitions, policy shifts, and corporate earnings, offering a strategic advantage to decision-makers seeking actionable intelligence. By bridging industry leaders, stakeholders, and professionals with data-driven content, we empower our audience to navigate the complexities of the global market with confidence.
PWG Business News: Keeping You Ahead in the Business World
At PWG Business News, we deliver timely and credible business news, covering global market trends, economic shifts, and emerging opportunities. With comprehensive coverage spanning healthcare, technology, telecommunications, utilities, materials, chemicals, and financials, our platform provides accurate, well-researched insights that drive success for executives, investors, and industry professionals alike.
Whether you're tracking regulatory updates, innovation trends, or strategic collaborations, PWG Business News ensures you have access to high-quality, data-backed reports that enhance brand visibility, credibility, and engagement. Our mission is to keep you ahead by serving as your trusted source for impactful industry news and market intelligence.
Stay informed with PWG Business News – your gateway to the insights that shape the future of business.
Information Technology
In India, a revolutionary trend is transforming the job market landscape: skills-based hiring. Employers are rapidly shifting focus from traditional academic credentials to practical skills and experience, offering unprecedented opportunities for individuals from diverse backgrounds. This shift is driven by rapid technological advancements, economic changes, and the need for a more adaptable workforce. By emphasizing problem-solving, adaptability, and technical expertise, businesses aim to meet the evolving demands of industries such as AI, cybersecurity, and data science.
According to a recent Indeed survey, 80% of Indian employers have adopted a skills-first hiring strategy. This approach has become particularly prevalent in high-growth sectors, where companies seek candidates with job-ready skills over traditional degree holders[1][3]. The trend is backed by 60% of workers who believe that skills-based hiring will become even more prevalent by 2025, prompting investments in certifications, specialized training, and hands-on learning[1][3].
Companies embracing skills-based hiring report significant benefits:
This approach allows businesses to tap into a wider talent pool, including self-taught individuals and those from non-traditional educational backgrounds[2].
Several Indian companies are pioneering this change:
These companies have seen lower attrition rates and increased innovation by adopting a skills-first approach[2].
Despite the benefits, 42% of hiring managers struggle to find candidates with the necessary skills[1][3]. To address this gap, companies are re-evaluating job descriptions, removing degree requirements, and expanding hiring criteria[1][3].
Employers highlight a mix of technical and soft skills as essential:
These skills are critical for solving problems and collaborating in dynamic work environments[1][3].
Skills-based hiring promotes equity and inclusion by evaluating candidates on competencies, not education. This approach helps reduce bias and make the job market more accessible to diverse candidates[4]. According to the World Economic Forum, around 30% of Indian employers plan to adopt skills-based hiring practices by removing degree requirements, surpassing the global average[2].
India is evolving towards a skills-first economy, with professionals predicting that skills credentials will be as valuable as degrees by 2035[4]. The use of AI-based tools for skill development is becoming increasingly prevalent, with 80% of professionals using such tools to enhance their skills[4].
Technology plays a crucial role in implementing skills-based hiring, offering platforms for practical skill assessments and real-world challenges[5]. This includes advanced assessment tools that allow companies to evaluate candidates through coding challenges and project portfolios[5].
The shift to skills-based hiring in India signals a significant transformation in how talent is evaluated. By focusing on practical skills and experience, businesses are not only enhancing their competitiveness but also creating a more inclusive and agile workforce. As India navigates this new era, the emphasis on skills over degrees is set to redefine the future of employment and talent acquisition in the country.
