Zee Business MSME SUMMIT SEASON 2: What experts have to say on creating future ready workforce in SME sector – Know here
- August 8, 2022 9:42 am
Amid global uncertainties, the way of doing business is also changing rapidly, hence it becomes imperative that the entrepreneurs associated with the MSME (Micro, Small and Medium Enterprises) sector should also be brainstormed on various dimensions in their business and take steps with a suitable strategy to find the way forward.
In such a situation, it is very important to prepare the workforce according to the current requirements. It is also important because it plays an important role in not only giving a new direction to the business but also in taking it forward.
Micro Small and Medium Enterprises (MSMEs) have a significant contribution in the country’s economy and provides employment opportunities on a large scale. To brainstorm on the challenges of the MSME sector in the changing scenario and to explore new opportunities for growth, Zee Business launched MSME NATIONAL SUMMIT & AWARDS SEASON 2.
During the summit, Zee Business along with other dignitaries brainstormed on various themes, and the first episode of the summit was focused on Creating Future Ready Workforce.
The program saw industry leaders guiding the entrepreneurs on various aspects related to upskilling-reskilling of the workforce, cluster mapping with a focus on the global scenario, how to build a team in sync with technology.
Dignitaries such as K Rama Devi – President, Association of Lady Entrepreneurs of India (ALEAP); Dr H P Kumar – Director, External Affairs, Power2SME; Samir Sathe Executive VP, Wadhwani Advantage and, the event was conducted by Zee Business SME Editor Saurabh Manchanda.
Dr HP Kumar, Director External Affairs Power2SME on increasing global challenges said that the MSME sector is normalizing after the impact of the pandemic and was expect the MSME sector to outperform other sectors considering the growth and performance aspects.
“However, the impact of the Russia-Ukraine crisis was not only seen on the global economy but also on the Indian economy. With this rising inflation, pressure was also felt here. In such a situation, the MSME sector again has facing difficulties on many other fronts along with raw material,” Kumar said.
According to Kumar, the steep increase in the prices of raw materials is being taken as the biggest problem for the MSME sector and seeing the impact of the rise in interest rates by the central bank. The sector is also reeling under a pressure regarding unskilled and insufficient workforce, he added.
Elaborating on the rapid digital adoption among MSMEs and the need for new skills in Industry 4.0, K Rama Devi, President, Association of Lady Entrepreneurs (ALEAP) said that the pandemic increased digital adoption in the MSME sector and making its workforce skilled by adopting new technology.
K Rama Devi said that we are trying to increase the SME business by adopting technology and has a support of the government too for the same. While discussing the cluster mapping, she said drastic changes have been registered after the intervention of technology and the human resources are available in large numbers, but they are not being utilized properly.
Elaborating on the aspect related to the vital role of the workforce to seize the new opportunities, Sameer Sathe, Executive Vice President, Wadhwani Advantage said that in the present times there is a need for MSMEs to focus on their skill set, whether it is domain skills or functional skills.
Be it on the front of sales, production or procurement, MSMEs will have to learn a lot in view of Industry 4.0, which is considered to be a new pat, Sathe said. He added that the skills like data analytics, decision making science are important in many aspects.
Commenting on the issue of boosting productivity through upskilling-reskilling, Sathe said that two-three things are required to attract talent – the economic development of the employer should be visible to the talent and their brand name should be established. So the talent gets attracted.
