Today’s competitive market always wants skills which are at par with the industry demand and that is in no way different in the job market. The scenario has changed and nowadays the 9 to 5 jobs don’t exist and moreover Industry demands those people who have the upgraded knowledge of the application of a particular concept in the job profile. In such a case, one needs to upgrade the skills to stay in the job or else get fired.
According to a recent survey done by Ministry of labour and Employment, it shows during 2008 more than 60 % of the people lost their jobs since they were unable to cope with the rapid changes the Industry demanded at that time. The reason for losing jobs goes to the inability of upgrading skills which are used to perform the particular job. Whatever we learn today becomes obsolete tomorrow so therefore there is an urgent need to upgrade oneself to stay ahead in the competition.
Types of Jobs which require Upgradation
Generally jobs which require complex technical knowledge demands constant upgradation. Take the example of a software engineer who does programming on the basis of Java or Oracle. Now Java programming language does not remain static every time since it needs upgradation to perform better. So being a software engineer one needs to learn the upgraded version of Java programming language to be in the job of a software engineer, otherwise getting fired from the job remains the only option. In the case of designing, architecture, civil engineering and many more, skills are needed to be upgraded not constantly like the software sector but within a particular time.
Role of Educational Loans for upgrading skills
Student Loan forms the best option to finance skill-based training. Eroding one’s personal financial resources is not a solution to deal with such a problem. Nowadays a number of banks and well as financial institutions are offering educational loans at a cheaper rate to upgrade skills while working for a particular company.
Also the Best Student Loans are offered by some Non-Banking Financial Companies who disburse the same quickly without much processing fees and also offer reasonable equated monthly installments. Thus it is very much important to get an added financial resource to upgrade skills while working and be in the job for a brighter career.
Today’s job market is continuously changing since the Industry demands are not static and are dynamic according to the changes in the environmental conditions. So it’s important for a life-long journey in one’s career to upgrade knowledge and skills since nothing is static in today’s world. Remaining obsolete will create stress and crisis which will again ruin one’s career if they don’t respond to the upgraded knowledge and skills, the industry want. Educational loans provide an extra added funding to skill-based educational training which is needed to stay in the job or in the Industry. Jobs like software engineering, design and to some extent core engineering sectors require the need for upgrading knowledge which can be easily fulfilled by such educational loans offered by banks and other financial Institutions.