Banner
/ Whitepaper

Bridging the gap between education and employment

Bridging the gap between education and employment

Bridging the gap between education and employment

ABSTRACT

As organizations adopt innovative technologies, there is a growing need for skilled talent to fill new roles emerging in the marketplace. Further, college placement programs often have a limited focus when it comes to tutoring fresh candidates on skills that make them job- ready. The result is large numbers of unemployable graduates flocking the job market. Thus, even as HR departments struggle to plug the talent deficit in their organizations, unemployment rates are on the rise. This paper examines employability challenges for the Indian education system and the industry. It underscores the need for a collaborative approach between industry and academia to bridge the talent-job gap, thereby assuring relevant placement for students and targeted hiring processes for organizations.


INTRODUCTION

nemployment in India is a grave concern. Numerous employability studies across the country have shed
light on unemployment trends, challenges and solutions. However, initiatives to address this issue have been
scarce. A recent report by McKinsey states that nearly 50-60% of the Indian IT services workforce is
expected to become irrelevant in the next 3-4 years1

Without insights into industry expectations, educational institution scan only offer limited solutions to
unemployment. To truly empower students find gainful employment, educational institutions need to redefine
their curricula, collaborate with organizations and build proficiency in skills that are in demand, today and in
the future.

EMPLOYABILITY CHALLENGES

Typically, educational institutions garner recognition and acclaim based on their top scorers, who are not always adept at applying theoretical knowledge at the workplace. Invariably, subject-specific knowledge does not equip students with real-world skills. For instance, most entry-level jobs involve interactions with internal and/or external stakeholders. However, interpersonal skills that are critical when building client and customer relationships are rarely taught in colleges2.

This has alarming consequences for colleges as well as students. A report by Associated Chambers of Commerce and Industry of India (ASSOCHAM) revealed that an overwhelming 93% of MBA graduates from nearly 5500 business schools across the country are unemployable. Only 7% of these graduates actually get a job directly after graduating3. While poor infrastructure and low placement opportunities were cited as the key reasons, redundant courses and the lack of job-readiness also play a major role. Thus, with employability skills low on priority for educational institutions, unemployment rates are on the rise. A recent study predicts that the youth unemployment rate in India will reach 15.5% in Q3 2017. Today, merely having a graduate degree no longer guarantee's placement. The gap between education and employment needs to be bridged – and this must begin with educational institutions.

FROM EDUCATION TO EMPLOYMENT

Constant evaluation is the key to improvement. To meet the rampant employability challenges in India, ducational institutions must adopt strategies that:

ASSESS JOB-READINESS

Rigorous and consistent usage of assessments enable colleges to identify abilities, skills and personalities of new students. These must be administered from enrollment and right until graduation. The results of these tests can provide valuable insights using which into the right career profile for students can be determined, including what subjects they should study to embark on their chosen paths. More importantly, however, these results indicate what skills must be developed to succeed – and this is where most educational institutions need to pay more attention. Employers today are looking for more than just subject knowledge; they want job-ready candidates who can work well within a team, leverage critical and creative thinking, and adapt to different roles and responsibilities. In fact, an article by Forbes lists traditional soft-skills such as communication, leadership and collaboration along with time management, attention and agility as some of the leading skills that employers will look for in 20172

ABSTRACT

As organizations adopt innovative technologies, there is a growing need for skilled talent to fill new roles emerging in the marketplace. Further, college placement programs often have a limited focus when it comes to tutoring fresh candidates on skills that make them job-ready. The result is large numbers of unemployable graduates flocking the job market. Thus, even as HR departments struggle to plug the talent deficit in their organizations, unemployment rates are on the rise. This paper examines employability challenges for the
Indian education system and the industry. It underscores the need for a collaborative approach between industry and academia to bridge the talent-job gap, thereby assuring relevant placement for students and targeted hiring processes for organizations.

--

ABSTRACT

As organizations adopt innovative technologies, there is a growing need for skilled talent to fill new roles emerging in the marketplace. Further, college placement programs often have a limited focus when it comes to tutoring fresh candidates on skills that make them job-ready. The result is large numbers of unemployable graduates flocking the job market. Thus, even as HR departments struggle to plug the talent deficit in their organizations, unemployment rates are on the rise. This paper examines employability challenges for the
Indian education system and the industry. It underscores the need for a collaborative approach between industry and academia to bridge the talent-job gap, thereby assuring relevant placement for students and targeted hiring processes for organizations.

INTRODUCTION

Unemployment in India is a grave concern. Numerous employability studies across the country have shed light on unemployment trends, challenges and solutions. However, initiatives to address this issue have been scarce. A recent report by McKinsey states that nearly 50-60% of the Indian IT services workforce is expected to become irrelevant in the next 3-4 years1

Without insights into industry expectations, educational institution scan only offer limited solutions to unemployment. To truly empower students find gainful employment, educational institutions need to redefine their curricula, collaborate with organizations and build proficiency in skills that are in demand, today and in the future.

EMPLOYABILITY CHALLENGES

Typically, educational institutions garner recognition and acclaim based on their top scorers, who are not always adept at applying theoretical knowledge at the workplace. Invariably, subject-specific knowledge does not equip students with real-world skills. For instance, most entry-level jobs involve interactions with internal and/or external stakeholders. However, interpersonal skills that are critical when building client and customer relationships are rarely taught in colleges.
This has alarming consequences for colleges as well as students. A report by Associated Chambers of Commerce and Industry of India (ASSOCHAM) revealed that an overwhelming 93% of MBA graduates from nearly 5500 business schools across the country are unemployable. Only 7% of these graduates actually get a job directly after graduating3. While poor infrastructure and low placement opportunities were cited as the key reasons, redundant courses and the lack of job-readiness also play a major role.
Thus, with employability skills low on priority for educational institutions, unemployment rates are on the rise. A recent study predicts that the youth unemployment rate in India will reach 15.5% in Q3 2017. Today, merely having a graduate degree no longer guarantee's placement. The gap between education and employment needs to be bridged – and this must begin with educational institutions.

FROM EDUCATION TO EMPLOYMENT

Constant evaluation is the key to improvement. To meet the rampant employability challenges in India,
educational institutions must adopt strategies that:

ASSESS JOB-READINESS

Rigorous and consistent usage of assessments enable colleges to identify abilities, skills and personalities of new students. These must be administered from enrollment and right until graduation. The results of these tests can provide valuable insights using which into the right career profile for students can be determined, including what subjects they should study to embark on their chosen paths. More importantly, however, these results indicate what skills must be developed to succeed – and this is where most educational institutions
need to pay more attention. Employers today are looking for more than just subject knowledge; they want job-ready candidates who can work well within a team, leverage critical and creative thinking, and adapt to different roles and responsibilities. In fact, an article by Forbes lists traditional soft-skills such as communication, leadership and collaboration along with time management, attention and agility as some of the leading skills that employers will look for in 2017.