It has come to notice recently of the lack of job ready training within the framework of formal education in India. The young adults of today require a different set of support services rather than the typical traditional students, but these services that are required includes skill development, care, long-term credit counseling, placement support and interview-ready training that are often unavailable as a wholesome course. While this is a critical concern, there is a bigger problem that these students face today, and that is industry relevance.
A recent research titled as ‘The Voice of the Employer on the Effects and Opportunities of Professional Development’ pointed out that universities and colleges must now work towards giving students the very skills that are required for jobs and long term success in an industry rather than focusing only on certain support services. This makes sense in today’s world of technology more than ever before! Skills, more than credentials are more important. Even if students have the right degree but lack the right skills, then their degree is of little practical use.
How does such training benefit colleges
A University or a college that responds to industry needs appropriately will not only attract, success driven students to apply but will also attract corporate companies who are looking for professionally trained freshers to join their workforce. The same research paper brings to our notice that 95% of corporations now financially support training with their own spending that a whopping $172 billion. But this spending is done via internal training programs or third party training partners. Universities and colleges have been missing out on this critical revenue system since employers feel that their programs are not industry relevant. The report further pointed out that just 16% of employers feel that there is adequate availability of programs and universities that tailor to the needs and just 9% of corporate companies are presently engaged in partnerships.
This presents a great opportunity for higher education institutions.
Most employers in the IT industry believe that universities and colleges should work closely with the industry so as to train as per their needs. Here are a few points employees’ part of the survey had to say about the need for industry-ready training in higher educational institutions:
- With the rapid change in technologies, it is crucial to educate employees regularly. But can colleges do the same and keep up with the industry? If so, then corporate companies will use them.
- Institutions will require close consultations with businesses prior to launching specific courses for the various IT streams.
- Institutions will need to offer courses that are tailored to the real job world. Universities must partner with companies or better still, corporate trainers themselves to offer curriculum that can make students valuable to the job market.
As of now, structural unemployment issues are plaguing India since the skill sets required by the IT companies does not match the skill set possessed by the students. By working with training solutions that are in tune with the industry, institutions can open up a new revenue source via corporate learning channels.
The Train-Hire-Deploy is the newest style of hiring skilled talent off campus today. Corporate companies get trained workforce that have hands-on experience in the technologies that they work with, hire them right off the campus, fresh out of the training, and such a work-force displays productivity from Day 1 at job that saves these companies huge resources. This is why it makes all the more sense for universities to partner with tech evangelists in order to make cashable employees out of their passing out students.
Transitioning higher education to be more industry oriented into the 21st century can be complex, with a lot of constantly moving pieces. But tailoring programs that are based on the current and future industry needs can make up a critical piece of this complex puzzle.