The world is hurtling towards the "techade," a decade where technological advancements will reshape every aspect of our lives. In this era, possessing the right skills is crucial for individual and national success. India, with its youthful population, holds immense potential to emerge as a global tech leader. However, a significant skills gap poses a threat to this progress. Recent reports, including studies from EY and iMocha, reveal a staggering 81% shortage of tech talent in Indian organizations. Compounding this issue, UNICEF's 'The 2030 Skills Scorecard' projects a worrisome trend: by 2030, 54% of South Asia's school-age children may lack essential workforce skills without transformative reforms.
In response to these challenges, Wells Fargo, India and the Philippines, is actively addressing the evolving tech landscape. In this insightful interview with TheCSRUniverse, Ms. Lina Nair, Chief Operating Officer, Wells Fargo India and the Philippines, discusses the company's commitment to inclusive growth, democratizing opportunities, and actively shaping a skilled workforce for the technology-driven future. Ms. Nair delves into Wells Fargo's initiatives, emphasizing partnerships with NGOs like Anudip Foundation and Quest Alliance, and a strategic focus on empowering marginalized communities, particularly women. She also shares success stories, including the transformative journey of individuals like Neelimadevi Priya and the impactful 4-month residential training initiative for women in Data Science, underscore Wells Fargo's role in shaping a skilled workforce.
The interview touches on education, STEM advocacy, and societal impact metrics. Finally, Ms. Nair discusses the company's long-term impact assessment, success metrics, and vision for the future amid the "techade." She envisions Wells Fargo's evolving role in the next decade, emphasizing a commitment to comprehensive training initiatives, diversity, and inclusivity in the technology-driven era. The interview concludes with a quote from Bandana Jha, Head of Philanthropy & Community Impact at Wells Fargo India and the Philippines, highlighting the company's excitement to amplify efforts in empowering young talent and fostering a more inclusive future.
Scroll down to read the full interview.
Q&A
Q. Why does Wells Fargo consider India pivotal for tech talent development, and what potential does it see in India's evolving tech landscape?
A. Motivated by our dedication to making a positive impact, we actively support grassroots initiatives that focus on youth skill development. Our approach goes beyond mere financial support – we're diving in deep. Through partnerships with NGOs, we've embarked on a mission to train 3,500 young men and women in 2022-23 in IT and ITES roles. But our commitment goes beyond training these individuals. Wells Fargo employees are actively involved in conducting mock interviews and learning sessions. Our goal is to equip trainees with jobs and corporate success. As industry reports lay bare the challenges of the future workforce, at Wells Fargo, we don't just see ourselves addressing the talent shortage; we see an opportunity to contribute to inclusive growth, democratize opportunities, and actively shape a skilled workforce for the technology-driven future. It's more than a mission; it's a commitment to playing a pivotal role in the transformative journey ahead.
Q. How is Wells Fargo India and the Philippines strategically shaping its tech training programs to not only align with the dynamic advancements in AI, cybersecurity, and data science but also to foster well-rounded and adaptable tech talent, recognizing the growing importance of soft skills in the industry's evolving landscape?
A. Our collaboration with Anudip Foundation and Quest Alliance in the provision of workforce development training has resulted in positive outcomes for over 3,500 trainees. This initiative underlined the critical importance of both technological proficiency and soft skills training. In today’s evolving economy, corporations actively seek candidates possessing 21st-century skills—comprising cutting-edge technologies and robust communication capabilities. Under Tech for Good, a volunteering initiative by Wells Fargo, our employees are also helping Anudip Foundation digitize their job portal by using new technologies & AI.
Our initiatives play a pivotal role in imparting these skills to marginalized communities, facilitating their success in the competitive IT industries. Notably, 70% of the trainees from this initiative have secured positions in reputable firms like Accenture and Infosys.
The training program places a particular emphasis on women candidates, recognizing the impact of societal norms, and traditional gender roles and stereotypes on career choices. Over the past three years, we have trained 3,000 women in technology following the completion of their higher education. This initiative acts as a commitment to reshape futures and challenge prevailing stereotypes.
One impactful Quest Alliance success story that I would like to highlight here is that of Neelimadevi Priya, an 18-year-old girl from Musheerabad. Despite dropping out of school due to financial constraints, her unwavering commitment to learning remained steadfast. Through sheer determination, she secured a position as a computer operator at a multinational air-conditioning manufacturer. Neelimadevi's dedication to personal growth persisted, leading her to explore alternative avenues. Introduced to the career readiness program by a friend, offered by the Civil Society Organisation, a Quest Alliance implementing partner, she focused on enhancing her computer skills, mastering Microsoft Office, and refining her typing proficiency. It’s heart-warming stories like that make our work speak for itself.
Q. In light of the global economic growth projections and the skills gap identified by UNICEF's 'The 2030 Skills Scorecard' report, what role does Wells Fargo envision playing in ensuring that South Asia's school-age children acquire essential workforce skills?
A. Wells Fargo’s commitment to education is paramount. Beyond the realm of academics, we believe in nurturing cognitive learning in young minds, advocating for STEM and digital skill development among primary and high school students, and offering vital fellowship support to female MTech candidates. Our focus is on building the capacities of teachers, giving them the tools they need, to teach problem-solving and 21st-century skills, and instilling a reading culture among students.
We partner with Nirmaan Organization, Agastya Foundation, and Magic Bus that emphasize on STEM education and digital literacy. Together, we impact around 30,000 public school students across Telangana, Karnataka, and Tamil Nadu. We have witnessed students getting hands-on with coding languages like Scratch, HTML, and CSS, creating games and interactive websites. We also organized hackathons across our sites where 60 students showcased their projects to our tech team, earning well-deserved praise.
Apart from this, our employees across the three locations – Bengaluru, Chennai and Hyderabad actively participate in various skill-based volunteering initiatives. They generously contribute their time, expertise, and skills to support school students and youth from underserved communities. These sessions are specifically designed to address unique needs and provide tangible benefits to the individuals involved.
Q. In what ways does the company measure the effectiveness of its tech training programs, both in terms of participant outcomes (e.g., job placement rates, skill acquisition) and broader societal impact
A. We measure effectiveness of training programs by ensuring that 100% of the trainees complete their training, and via job placement rates. Our collaboration with NGOs and organizations has witnessed 70% secured placements with various IT giants. Further, we also provide on-the-job training to candidates from these batches and hire them in various entry level roles.
Q. How has Wells Fargo's partnership with NGOs like Anudip Foundation, Quest Alliance, and United Way of Hyderabad empowered marginalized communities, specifically women, by equipping them with 21st-century skills? Additionally, could you provide insights into the 4-month residential training initiative for women in Data Science and how it addresses the skills gap and challenges they face?
A. Our strategic partnership with Anudip Foundation, Quest Alliance and UWH, has yielded successful results. Our specific focus has been on women, ensuring their participation in job-focused training programs.
Our employees in three locations actively engage in hands-on skill-based volunteering initiatives. They conduct various recurring sessions on advanced MS Excel, financial literacy, and mock interviews to empower the youth associated with Anudip Foundation. Additionally, they lead impactful sessions on POSH (Prevention of Sexual Harassment), resume building, work readiness, soft skills, and cyber security for candidates supported by Quest Alliance. This plays a vital role in equipping the youth with the skills, knowledge, and confidence essential for success in their careers.
Further, Wells Fargo has forged partnerships with reputed national level NGOs and have created workforce development program to impart quality education with digital skills and job placement opportunities through the following NGOs. In 2022-23, 2,100 women who are first generation learners have been trained in technology, after completing higher education. Post completion of the training program, all the trainees have been placed in new economy jobs.
With Wells Fargo’s support, United Way Hyderabad in partnership with Telangana Social Welfare Residential Institutions Society upskills women living in rural areas of Telangana through a comprehensive 4-month residential Data Science Certification program to build digital skills and improve their communication skills for enhanced employment opportunities.
The skill training and exposure has helped the youth, women from far flung tribal areas and PWD to be placed in reputed corporates across the Bangalore, Hyderabad and Chennai. All enrolled candidates have successfully completed the course and secured certification, 70% candidates are job placed and full-time employees in corporates.
Q. Considering the focus on neurodiverse individuals, what challenges were encountered in the collaboration with Winvinaya Foundation, and how did Wells Fargo contribute to breaking barriers in education for this group? Please provide insights into the specialized programs for this community.
A. Teaming up with the Winvinaya Foundation, our mission is to empower individuals with disabilities by helping them with essential employability skills. As we work towards this objective, we are providing specialized and forward-thinking skills training to a group of 100 PwD. This includes individuals facing challenges like hearing and speech impairment, visual impairment, locomotor disability, cerebral palsy, and those on the neurodiverse spectrum. Our tailored courses cover a spectrum of advanced subjects, ranging from Power BI and IT Full Stack to IT Remediation, Accessibility Testing, and BFSI. The impact has been significant – 56 trainees from this initiative have secured positions in notable companies such as Barclays, EY, Pride Tech, and Eyries Services.
At Winvinaya Foundation, our volunteers conduct bi-weekly one-on-one mentoring sessions for individuals with disabilities. These sessions, led by experienced mentors, contribute significantly to personal and professional growth.
I would like to highlight a personal story of Mili here, a vibrant storyteller with a Sign Language YouTube channel, excels in badminton despite hearing and speech impairments. Her family's relocation for education led to job challenges for Mili and her brother after earning B.Com degrees. Discovering Winvinaya Foundation's training, Mili upskilled in financial accounting, MS Office, and Power BI through Wells Fargo-supported programs. She conducted a disability sensitization workshop, secured a financial accounting position in Bangalore, and aspires to be a role model for the deaf community while pursuing her passion for badminton.
Taking our commitment a step further, Wells Fargo has offered on-the-job training to five candidates from this program, subsequently welcoming them into various entry-level roles within our organization. It's not just about skills, it's about creating opportunities and fostering an inclusive work environment. We are proud to be part of this journey towards empowerment and accessibility.
Q. Given the emphasis on grassroots initiatives, how does Wells Fargo measure the long-term impact of its programs on the lives of the individuals trained, and what success metrics are used to assess the effectiveness of these initiatives? How do you envision sustaining this impact beyond immediate outcomes?
A. In evaluating the long-term impact of its programs, Wells Fargo employs a comprehensive set of success metrics. First, the success of candidates is measured by their completion of the training program and subsequent certification, a feat achieved by all participants. Further, an impressive 70% of candidates find placement in new economy jobs, with a notable average salary of INR 18,000 per month.
What sets our initiatives apart is their inclusivity. We proudly showcase the successful job placements of 56 Neurodiverse/PwD candidates and 125 women from remote rural villages who underwent training in data science. But it's not just about finding jobs; it's about excelling in them. Every candidate demonstrates proficiency in both technical and soft skills, ensuring their effective utilization in the workplace.
Our program aims to be a catalyst for personal development, instilling confidence and fostering financial independence among our students. The impact extends to families where they experience a substantial 150% increase in income, showcasing Wells Fargo's commitment to measurable success indicators and holistic progress that not only transforms individual lives but also uplifts communities through enhanced family income, marking a remarkable contribution to societal advancement. Further, the retention rate – all candidates stay on post-placement after six months, showcasing the sustained impact of our program.
Q. In the context of the "techade," how does Wells Fargo see its role evolving in the next decade to continuously meet the demands of the technology industry and bridge the skills gap? What does the future look like?
A. Looking ahead, Wells Fargo will continue to focus on its commitment to comprehensive training initiatives, strategically aligned to meet the dynamic demands of the technology industry and bridge the ever-widening skills gap. Central to our approach is the prioritization of both technical proficiency and soft skills, ensuring the cultivation of a versatile workforce well-equipped to navigate the fast-paced realms of the tech world.
We envision an inclusive future where individuals from diverse backgrounds not only thrive but lead in this technology-driven era. To actualize this vision, we are dedicated to training and hiring candidates from a wide array of backgrounds, fostering diversity that enriches our collective expertise. To foster this commitment, our partnerships with NGOs serve as vital conduits for providing opportunities to underserved communities. By facilitating upskilling initiatives and fostering continuous growth, we aim to create an environment where everyone, regardless of background, has the chance to contribute to and excel in the tech landscape. At Wells Fargo, our commitment is not just to the future of technology but to the inclusive future we are actively building.
“Our comprehensive strategy for empowering young talent and enhancing employability skills has led us to partner with various non-profitable organizations with similar goals. We're excited to amplify our efforts through greater employee engagement, meaningful role-model interactions, and mentorship programs. As we move ahead with a special focus on empowering women, these endeavours underscore our unwavering dedication to uplifting underserved tech talent and fostering a brighter, more inclusive future.”
Bandana Jha, Head of Philanthropy & Community Impact, Wells Fargo India & Philippines
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