NIIT announced yesterday that the skill-based training and development firm would train 1 lakh individuals through their Talent Pipeline as a Service offering.

Sapnesh Lalla, CEO at NIIT Ltd., said that "NIIT will train around one lakh youth in three years for career opportunities in leading corporates in the IT and BFSI sectors through this initiative (TPaaS)". Talent Pipeline as a Service (TPaaS) is aimed at ensuring a ready-made pool of talent who are trained in specific skills. 

Considering the fast-paced evolution that has become an inherent characteristic of the world of work, a “just-in-time”, job-ready, global-savvy pool of trained professionals is a prime requisite, the firm believes.

The IT sector has already been in the process of shifting to a just-in-time hiring framework owing to the varied levels of uncertainty that has the sector in its grips. With regard to the BFSI sector, it’s not simply the market and the world of banking and finance that is changing but the roles and functions of the professionals in the system are evolving as well. A relatively new amalgamation of skills is required with added emphasis on relationship management and sales skills which would contribute to 70% of BFSI jobs by 2020 according to the BCG report, “Indian Banking 2020: Making the Decade’s Promise Come True”.

Lalla added, "being in the talent development business for over three decades, we understand the pressures that global organizations are facing due to non-availability of talent specific to their business needs”. 

The talent pool seems always to be running behind, trying to catch up with the ever-expanding horizon of talent needs. NIIT’s initiative with TPaaS may well be a move in the right direction to match people to organizations effectively.

Additionally, with the omnipresent fear of the job market stagnating or capsizing altogether,  TPaaS also aims to be a beneficial strategic tool for students and aspiring professionals. 

Skilling is gaining impetus in many sectors.  Recently, the  National Skill Development Corporation (NSDC), under the aegis of Ministry of Skill Development & Entrepreneurship, Government of India, collaborated with Czech Aviation Training Centre (CATC) to establish skill academies in private universities and offer Aviation related courses for aspiring students.