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Apprenticeships are the strategic solution to the dual challenge of addressing immediate skill gaps while also ensuring a steady supply of future talent.

By investing in apprenticeship programs, companies can create a pipeline of skilled workers who are well-prepared to meet current demands. More than just filling immediate gaps, these programs also help cultivate a loyal and adaptable workforce that drives long-term growth and innovation. Through the combination of on-the-job training and formal education, this work-based skilling program offers organizations a competitive edge while providing individuals with valuable work experience and opportunities for career advancement.

At the recent leadership discussion hosted by us in Hyderabad, industry leaders explored the challenges in building an effective talent pipeline. The conversation highlighted the growing mismatch between employer needs and candidate skills, rising costs associated with hiring and training, and the high turnover rates that many organizations face. The necessity for agility in a dynamic talent landscape was also a key focus.

One of the critical takeaways from the discussion was the role of apprenticeships in reducing talent acquisition and training costs. By developing a steady stream of skilled workers, companies can achieve long-term returns and foster a more loyal workforce.

In the context of India, Telangana presents a unique case. Despite being one of the wealthiest states in terms of per capita income, it faces significant challenges related to unemployment, particularly among youth. The state’s booming IT sector in Hyderabad continues to struggle with hiring challenges and skill gaps, especially in emerging technologies and specialized roles. While the region attracts global IT companies and startups, a disconnect remains between the local talent pool and the specific needs of employers.

During the session, leaders emphasized how tailored talent development programs, such as degree apprenticeships that focus on industry-relevant skills alongside academic qualifications, can help bridge this gap.

For more details, you can read the press release about the event in BusinessWorld

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