Creating Employable Talent “Role of Industry and Academia”

Abstract

The shortage of appropriately skilled labor across many industries is emerging as a significant and complex
challenge to India's growth and future. According to a survey, each year over 3 million graduates and postgraduates
are added to the Indian workforce. However, of these only 25 percent of technical graduates and
10-15 percent of other graduates are considered employable by the rapidly growing IT and non IT segments.
Hence, we are having a big gap between the requirement and supply of labors.
In this demand-supply gap scenario, a look at the Indian education system will reveal that the number of
management and technical schools in India, has actually more than trebled in the last decade, according to
the All India Council of Technical Education. So it is becoming even harder to create a robust and
continuous pipeline of talent. The university systems of few countries would be able to keep up with such
demand, and India is certainly having trouble.
Further, universities and educational institutions have been unable to update their syllabi in tune with the
high speed changes taking place in the world of technology. Hence, the students churned out are not
equipped to meet the current industry requirements and often companies have to incur additional expenses
(time and monetary) to train new hires. Besides the technology aspect industries also evaluate competencies
ranging soft skills, team building, overall attitude, and values. So we need to fulfill gap between actually the
requirement of industry and the talent is created.