Need to bridge gap between institutional learning and industry expectations

In India, there is currently a large gap between acquired and necessary knowledge

Ashish KhareUpdated: Monday, May 23, 2022, 11:07 AM IST
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Students of all ages such as youth, kids and sophomores obtain qualifications but the inability to find work because employers' expectations and objectives diverge from those of educational institutions |

Education, in all its aspects, is a critical component of progress. No country can achieve long-term economic success without major expenditures on human capital. People's perspectives on themselves and the world are broadened by education. It raises the bar and makes people's lives better. Education increases productivity and creativity, while also boosting entrepreneurship and technological developments. Furthermore, improving income distribution is pivotal to ensuring education economic and social growth.

In India, there is currently a large gap between acquired and necessary knowledge. Students of all ages such as youth, kids and sophomores obtain qualifications but the inability to find work because employers' expectations and objectives diverge from those of educational institutions.

The educational institutions place an emphasis on theory and provide students with theoretical inputs and knowledge that fall well short of the expectations of industry employers. To match the industry's requirements, employers seek candidates who can ‘plug and play.’ In this context, we will explore the present gap between learning institutions and industry expectations, as well as offer creative tools and approaches for efficiently bridging the gap.

Bridging the gap: From Institution to Industry

Although the number of high school and college graduates has increased, this has not resulted in greater employment. Large organizations are using new recruitment strategies that place an emphasis on communication, agility, proactivity, and empathy. Such characteristics set applicants apart from others who only bring technical skills to the table.

According to the findings of a McKinsey survey, firms are lacking in the talents that they will need in the future. The survey also finds that, over the next five years, skill development, rather than hiring, will be the most effective way to bridge skill gaps. We've seen a shift away from learning management systems in general and toward more focused business development efforts.

Currently, there is a gap between institutional demands and industry expectations. It must be spanned as soon as possible. The current Indian education system faces various issues, including an overemphasis on memory and a lack of focus on creativity. The rapid speed of change in the business environment, along with sophisticated technology, it necessitates collaboration between institutions and the industry to bridge the gap.

The field has seen a substantial transformation, both in terms of methodology and substance. The pandemic has accelerated an already distinguishable shift from traditional teaching-learning methods to digital classrooms. This is a particularly advantageous trend since it allows for the creation of effective techniques for connecting with the workforce in order to provide a comprehensive approach to learning.

Learning trends in transformation

Businesses are now aggressively engaging with EdTech companies to bridge the gap between expectations and reality through the use of digital learning solutions. These solutions have prepared their staff for new digitally driven work ecosystems, resulting in multiple ROI and significant cost reductions. As industry and institutes thrive to fill the gap between the educational institution and industry talent gap-

Identify the key skills required in the workplace

A diagnosis of the current capabilities of the organization's personnel will examine the workforce's skill set and assist in determining future training needs. It begins with a comparison of what the firm already has vs the talents required to achieve business outcomes.

Structuring the skills gap

Companies must decide how to fill workforce gaps. They must choose from a number of ways, such as hiring and re-skilling employees. In terms of how to address each gap, the choice involves two requirements: how to best fill such vacancies in the workforce and how to re-skill people.

Increase training capacity and forge strategic alliances

Companies should seek strategic partners to assist them in developing a learning ecosystem for their staff. The retraining programme should offer both in-person and online training choices. To map impact, skills should be connected with real-world industry projects.

Instill a desire to study

Organizations should support occasional refreshers in the workplace to ensure on-the-job training is successful and remains relevant within the workforce.

Summing Up

Building a skilled and talented workforce is critical to India's economic progress. In India, there is a pressing need to create skilled human capital. No country can progress unless its human capital is developed. The men behind the machines are always more important than the machines behind the men. Educational institutions are the backbone of any country, producing healthy citizens and leaders.

It is undeniable that skill disruptions are altering the prosperity of today's global communities. With a large youth population, India has a demographic dividend as well as a strategic advantage globally. Having employable and deployable students is critical to propelling India's economy ahead. To summarize, bridging the present skills gap between institutional and industry requires a collaborative effort from all stakeholders, including educators, students, parents, educational institutions, Ed-tech Companies, industry, intellectuals, and non-profits.

(Ashish Khare is Chief Executive Officer (CEO) & Founder, MentorKart-online mentoring platform)

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