MARCH 20224They say, a team is only as strong as its weakest link. And rightly so! While the saying holds true in various contexts, yet its true essence comes out strongly in the corporate setup. After all, it the employees' skill level and capability that directly affect the success of any enterprise or organization. Additionally, wrong hires are expensive and time consuming; it bodes well for organizations to pick the best suited candidate in one go. However, there is a flip-side to this situation as well. While on one hand we have companies vying to recruit the very best of candidates, on the other there are numerous talented professionals seeking jobs that fit in perfectly with their respective skill sets. A report suggested that competition for jobs among professionals in India increased by 30 percent between 2019 and 2020. The competition is only slated to get more intense as the industry sees a rising demand in up-skilling and reskilling. In such a scenario, the link that connects the 2 stakeholders is skill assessment industry. Employers leverage skill assessment platforms to gauge the knowledge and skill level of job applicants. It is certainly one of the most efficient avenues to identify if a candidate is a good match for a job position. Skill assessment platforms also help employers determine if a candidate will be a good cultural fit by evaluating their skills beyond one's technical abilities. Allied Market Research report suggested that the global candidate skills assessment market was valued at $1.93 billion in 2020. Growing at a CAGR of 11.6 percent, between 2021-2030, the industry is projected to reach $5.64 billion by 2030, registering a CAGR of 11.6% from 2021 to 2030. The market's Indian counterpart is also witnessing immense growth. Another report indicates that the Indian skill assessment services market will overreach $750 million by 2021. In the post-pandemic world, companies have opened up to virtual recruitment technologies, which brings them candidates from remote areas and promotes diversity, equity and inclusion. The industry is only going to grow from strength to strength.Do let us know your thoughts.Rachita SharmaSpecial EditorSkill Assessment Bridging Gap between Candidates & CompaniesEDITOR'S NOTE Vol 8 · Issue 01 · MARCH 2022 Publisher Alok Chaturvedi Special Editor Rachita Sharma Editorial Team Komal Banchhor Akansha Chak Shiwani Pradhan Srabani Ganguly Sales & Marketing Shashi Ranjan Editorial Queries editor@siliconindia.com To subscribe Visit: www.siliconindia.com/subscribe/ Cover price is Rs. 150 per issue.Printed and Published By Alok Chaturvedi on behalf of Siliconmedia Technologies Pvt Ltd and Printed at Precision Fototype Services at Sri Sabari Shopping Complex, 24 Residency Road Bangalore-560025 and Published At No. 124, 2nd Floor, Surya Chambers, Old Airport Road, Murugeshpalya, Bangalore-560017. Editor Alok ChaturvediCopyright © 2022 SiliconMedia Technologies Pvt Ltd, All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permission from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations. Views and opinions expressed in this publication are not necessarily those of the magazine and accordingly, no liability is assumed by the publisher.sales@siliconindia.comGroup Art Director Ashok KumarCirculation Manager Magendran PerumalVisualiser Prabhu Dutta A.R.N Ray VP Sales & Marketing Rohit Kumar siliconindia
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