Vacuum in Senior Management Skills in India and the Role Executive Education Can Play - Mumbai

Moving into a new management position throws up new challenges and difficulties. However, for managers making this transition post-2020, there are a whole new set of tests and trials on the table. They may encounter unforeseen roadblocks – that may drastically alter the scope of their roles and priorities.
The global pandemic has changed the business landscape – possibly forever – and tackling the new challenges today through modern management skills training is the key to preparing for the future of work.
Vacuum in Senior Management Skills in India
If you look around, so many companies in India are struggling to find proficient senior management professionals. This is no different from what is happening in Europe and the United States, but there it is due to the ageing societies. However, in India, it is quite surprising to see this happening.
There are two reasons for the shortage—one, most companies and professionals have not taken management development practices very seriously, and two, the way we Indians have been groomed, it is in the Indian DNA that a few years of experience are enough to climb the ladder.
India supports a majority of the world’s technology outsourcing requirements; hence it’s alarming to see that the country’s talent shortage curve is higher than the global average. As India grapples with the pandemic and technological disruptions, the need to rethink strategies to develop and improve the existing senior management workforce has never been more material.
Tectonic Shifts in Industry
Technology has and will continue to fundamentally reshape the world. Emerging tools like big data analytics, cloud computing, blockchain, machine learning, the Internet of Things (IoT), and artificial intelligence will be in greater demand in the near future. The new advancements will render several existing job profiles outdated or irrelevant to the market’s current requirements. In contrast, others will rise exponentially and rule the world in times to come. Hence businesses are continually looking for skilled management professionals who can inculcate new tools, technologies, and approaches that will help the organisation achieve the next level of performance. Need for Upskilled Senior Management Professionals
Mid-level and senior executives directly have an impact on the business and have a hand in setting the tone for the younger workers. However, experts believe that these supposedly safe places at the top of the hierarchy are being disrupted by the influx of digital technologies. Supporting the same, Ravi Kaklasaria, Founder and CEO of SpringPeople, said, “Unlike the Gen Y digital natives, mid-level and senior management professionals have not grown up against the backdrop of rapid technological innovation. Thus, it is imperative that they upskill themselves to speak the tongue of today’s digital era” *.
In all, upskilling is imperative for businesses to grow. It can improve productivity and efficiency, provide quality output, and reduce risks and costs.

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