In India, today, the number of unemployed population is huge. The International Labor Organization (ILO) estimates the rate of unemployment in India could be up at 3.8% at the end of this year. With the literacy rate growing in the country this statistics can be difficult to accept. This may be difficult to accept but not unfathomable.
In a report by McKinsey 'Education to Unemployment' it is noted that, there is a high percentage of lack of unemployment in the industry due to the lack of skillful workforce in the industry. In US, 45% employers say the vacancies at entry level jobs are due to the lack of skills. 42% of worldwide employers believe that entry level workers are not up to the mark skillfully to begin work.
According to the All India Council for Technical Education's numbers, the number of technical schools in India, including engineering colleges has increased to three times to what it was about a decade ago. While according to NASSCOM, 3 million graduates and post graduates are being added to the work force every year. Among them 25% are graduates are from technical background. However, only 10-15% considered as being employable by the IT/ITES industry.
A major reason for this is the skills gap that these students have. The advancements in technology in every field are taking place at a faster rate than ever. The syllabus, however, is not updated as frequently as one would have hoped. With the ever increasing number of colleges, the skills gap that is present in the industry requirement and the education received continuous to exist. Knowledge and skills are of importance to function in the industry. Hence it becomes of need to bridge this gap for the students to be industry ready. Skills development and training are to be an important element in the industry education dynamics.
A collaboration in these two fields is necessary to help get rid of the divide. There is a need for industry and academic institutions to come together and take measures to make the students completing their education to be made ready for the industry.
With this in mind, there are various companies that are coming up with programs to help students get a perspective of the industry. Infosys has launched 'Campus Connect' to help students get a taste of the industry. The goal of this program is to achieve enhancement in the quantity and quality of the IT talent pool. There is training for improvement of soft skills along with vocational skills. The students are provided with access to Infosys course work, project and case studies to get a better idea of the industry.
The McKinsey report earlier mentioned also stated that the employers are willing to pay 22% more salaries to the employees if they have the required skills. The employers are generally looking for readymade employees.
The skills development can also be achieved through to various internships. An impetus must be given in providing these students with the trainings at college level. The skills training will be a career building option for students. This will help in improving their employability. The trainings will be career booster for them.
Investments made in skills training are as such beneficial for employers and employees.
About the Author:
ANUP PATWARDHAN is an engineer by qualification and a writer by choice. He is a poet and a blogger. Anup works as a content writer with Global Talent Track. He blogs at globaltalenttrack.wordpress.com. The blogs tries to find solution to the questions that many students, on either side of graduation, may have. Global Talent Track is an educational initiative that provides training solutions to bridge skills gap in education and industry.