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Improving Employability - Preeth C

India is projected to create 75 to 80 million jobs over the next five years, yet faces a significant skill gap with only 25% of engineering graduates and less than 15% of general graduates being employable. The document emphasizes the need for better integration between academia and industry to develop curricula that meet workforce demands, highlighting the importance of soft skills and vocational training. It advocates for collaborative efforts to enhance employability through industry-academia partnerships and work experience opportunities.

Career◦Business◦Education◦
Enhancing Employability- Academia to Industry Integration
India and Emerging trend India has emerged as the 2nd fast growing economy after China
India to become world's fastest growing economy by 2013-15: Morgan Stanley With the continuing structural reform and globalization, India is poised to accelerate its growth rate to 9-9.5% over 2013-15
India and Emerging trend9.09876543218.28.06.75.55.54.43.51950-70 1980 1992-97 1997-2002 2002-03 2003-04 2006-07 2009 2010 Sustained acceleration is needed to provide opportunities for India’s growing population and its even faster-growing workforce.
India and Emerging trend - OpportunityApproximately 75 to 80 million jobs will be created in India over the next 5 years, 50% more than today… The Reports state that, In the next 2 years, India needs to find 500 to 750 CEOs and 10,000 functional leaders in various capacities Very high growth rates have the potential of creating around millions of jobs across the country across sectors As of 2009, about 300 million people—equivalent to the entire population of the United States—have escaped extreme poverty
India and Emerging trendFew High Growth Sectors and their Manpower Requirement* Doctors and nurses estimates are not considered in this dataset.** Estimated only for Organized RetailSource: Technopak AnalysisAccording to the National Skill Development Mission, the high growth sectors are automobile and auto components, transportation and logistics, warehousing and packaging, travel and tourism, media and entertainment, healthcare services and retail.
Qualities expected by the organizationHighly competent, motivated, innovative approach, negotiating skills
Excellent public relations and inter personal skills, pleasing personality, smartness, good academic records
Creativity, exceptional conceptual, analytical, extremely good and active contacts within the industry
Good track records of success, go-getter, dynamic in nature
Quality of people is a key determinant of success in a rapidly changing world”.Business NeedsGeneric skillsWhat Do Employers Look For In New Hires:An upbeat attitudeEnthusiastic both for work assignments and for their companies. A willingness to learnThere is a learning curve that is involved in all jobs. The ability to take criticismMust also be willing to accept constructive criticism with grace and style. Original thinkersIn today's highly competitive workplace, it is also essential that new hires be original thinkers. Strength of characterIt is important for a business to have a workforce who have good, strong characters. They need to be able to demonstrate trustworthiness, commitment, and compassion. FlexibilityAnother key ingredient for success on the job is flexibility. Because of the pressing demands of today's workplace, it is important for employees to have the ability to adapt to changing circumstances.
Industry ExpectationsIndustry skills1.Soft Skills: This factor has emerged as the most important determinant of the research. Possess good communication skills
Meeting with the soft skill criteria of the industry
Industry correlate the soft skills of a new entrant with its performance2. Leadership QualitiesIs the Industry is satisfied with the leadership qualities
Possess effective leadership qualities 3. Suitability: Fulfils the industry Requirement , Are suitable for the industry
Possess high professional standards
Current academic output is technically competent
Are graduates adaptable to the changing conditions of the Industry 4. Analytical Power: Ability to in analyzing the critical condition and possess strong analytical skills 5. Ethical Component: Industry expects high ethical norms in the profession 6. Dressing Sense: Understand the requirements of the industry environment Industry ExpectationsIndustry skills7. Language: Industry expects English as basic communication language 8. Manageability: Are easy to manage and Industry expects docility in the graduates10.  Training Needs: Graduates are pre-nurtured with professional norms 11. Professional Commitment: Are committed to their profession
Appropriate usage of communication toolsLeaders Voice There is a growing awareness in the UK of the importance of higher education to the development of a knowledge-based economy in an increasingly competitive global market.Pronounced Skill Gaps“We will need to ensure far greater availability of educational opportunities at the higher education level so that we have not just a literate youth but a skilled youth, with skills which can fetch them gainful employment. As our economy booms and as our industry grows, I hear a pressing complaint about an imminent shortage of skilled employees. As a country endowed with huge human resources, we cannot let this be a constraint.”Prime Minister Manmohan Singh, Independence Dayspeech-2006As APJ Abdul Kalam, Former President of India said, "It is not unemployment that is the major problem; it is the question of unemployability that is the major crisis in this competitive arena…"
Business Scenario - Reality Interviewing candidates based on their current knowledge as compared to skills required .
Due to lack of the right skills , Businesses invest six to twelve months to train the resource.
Having the right people in place and ready to execute a company’s business plans as and when required - serious competitive advantage. Limited talent pool , hence high attrition, leading to additional costs for hiring and training.