Unstop, a talent attraction, assessment, and hiring platform for students and graduates, has unveiled the Unstop Hiring Kart: Skills & AI Report 2024.
Based on surveys of 6,900 GenZ professionals and 610 HR leaders, the report, unveiled by Hidekazu Ito, Managing Director, Mynavi Solutions India, Pankaj Bansal, Founder, PeopleStrong & Managing Partner, Caret Capital and Ankit Aggarwal, Founder & CEO, Unstop, sheds light on the evolving dynamics of skills, AI, and workplace readiness, offering critical insights into the modern talent ecosystem. Unstop has also signed an MoU (Memorandum of Understanding) with NSDC, a strategic collaboration which aims to harness the expertise of both organisations to bridge the gap between academia and practical workplace requirements, ensuring the future workforce is ready to navigate the dynamic job market.
The report reveals that 89% of GenZs and 68% of HR professionals agree that candidates equipped with AI training can command higher salaries. Another major takeaway from Unstop’s report is the growing disparity between academic preparation and corporate expectations. A staggering 45% of Arts, Science, and Commerce graduates reported feeling unprepared for the workforce after college, a sentiment echoed by 25% of working professionals. Overwhelmingly, both 93% of HR professionals and 78% of GenZ think that traditional degrees are becoming obsolete, emphasising the urgent need for academia to overhaul curricula to prioritise job readiness.
Further, the report delves into the existing gap in workplace skills. HR professionals ranked analytical skills, teamwork, collaboration, and strategic leadership as the most in-demand yet also the hardest to find. Mentorship emerged as a potential solution, with 74% of HRs advocating for structured mentoring programs. However, GenZ identified a lack of challenges as a key hurdle in their upskilling journeys.
While 46% of GenZ prefer skill-based assessments before resume screening, 59% of HR leaders conduct these evaluations afterwards. This misalignment underscores the need for organisations to rethink hiring strategies and move toward skill-first approaches. This brought along the next question: Is AI a friend or foe?
The answer is that AI continues to spark polarised opinions, and the report highlights this. While 45% of GenZs see Data & AI as indispensable skills, only 14% of HR professionals agree. Despite this, 65% of HRs report that AI expertise is shaping their hiring strategies, and 6 in 10 HRs use AI tools frequently at work. Yet, concerns around over-reliance on AI persist, with GenZ warning of “intellectual dwarfism” and the risk of stifled creativity.
Sharing his thoughts on the report launch, Ankit Aggarwal, Founder and CEO of Unstop said, “The Unstop Hiring Kart: Skills & AI Report 2024 highlights the critical need for a paradigm shift in how we prepare for and evaluate the workplace of tomorrow. GenZ is pushing boundaries, embracing AI, and demanding meaningful skill development. For organisations, this is a wake-up call: adapt hiring strategies, foster continuous learning and champion mentorship. Only by bridging the gap between skills and opportunity can we shape a workforce that thrives in an AI-driven world.”
The report concludes that GenZ is ready to take charge of their future, with 60% independently upskilling through online courses, internships, and competitions. They demand organisations step up with role-specific training and continuous learning opportunities. Despite 81% of HRs providing these resources, a significant 19% of organisations still neglect this critical area of investment.
Read the report here:
