Dissolving Barriers: The Evolving Executive Education Ecosystem And Its Future
Democratising learning for better job prospects for the youth
The pandemic has further accelerated the adoption of technology, and the education sector has benefited immensely from it. Globally, online executive education is growing at an unprecedented rate and the future belongs to the virtual.
The last couple of years has witnessed a sea change in the executive education sector as we know it. Due to the pandemic, many businesses pulled down their shutters and the world saw upheaval as job losses and pay cuts became everyday news. Vocational and executive education, which was initially only accessed by a few who needed them, now became indispensable and people started looking at upskilling themselves.
With the pandemic and its resultant increase in the adoption of technology, the world is a very different place now. Virtual is the new real, and online education seems to have a dazzling future that few would have believed possible in this brave new world. Moreover, new technologies such as VR, cloud-based LMS (Learning Management System) and AI will be the key drivers, enabling the creation of smart content, real-time questioning and digitized study guides.
Globally, executive education is focusing more on becoming inclusive, because technology guarantees that people sitting in opposite ends of the world can now learn from each other through the click of the mouse. Above everything, it ensures the democratisation of education. India too, has adopted the digital boom. This also led to the need for better technology to cater to the demands of the executive education sector. What helped, mostly in urban areas, was the ready accessibility to technology in the form of a streaming device (smartphones, laptops, and tabs) and the internet. Executive education providers came to the rescue too.
The work-from-home culture has given people the gift of time, and many are looking at EdTech providers and online integrators to upskill themselves. Knowledge gaps are slowly closing because technology has enabled instantaneous connection with any educator, anywhere on earth. One can sit at home and learn at will because virtual learning has made it possible to access global degrees and world-class educators too, and very easily at that. People are using platforms like YouTube to learn new skills. Professional courses have also seen an unprecedented number of takers because the new normal dictates the need to be skilled at multiple operations to increase one’s value on the employability scale.
Job security is only guaranteed when people are skilled at multiple things now. Gone are the days when an accountant would only deal in numbers. An addition in the form of, for example, excellent sales skills, keeps them relevant and their jobs secure. It always paves the path to better prospects at a time when the job market is narrowing down and there is a demand for multitalented personnel who can fit different job profiles at ease.
A good executive course by a reputed provider normally has 25,000 to 30,000 takers annually. Analysis has shown that almost 50 per cent of those who take an executive course land better jobs, with a minimum 30 per cent hike over their previous salaries.
As the voracious use of technology in gaining knowledge throws up new demands and challenges, it is prompting EdTech providers to come up with innovative solutions to help learning come alive. Executive education is important now, as more people take recourse to this form of education for better prospects. It is the responsibility of EdTech providers to align themselves with the future of Indian education, which will further aid in taking the nation closer to its employability goals.
Because the barrier has dissolved.
Disclaimer: The views expressed in the article above are those of the authors' and do not necessarily represent or reflect the views of this publishing house
Around The World