The IBM Institute for Business Value (IBV) in cooperation with the Economist Intelligence Unit found that only 61% of India’s higher education leaders feel the education system is unable to meet the changing needs of the society.
The study was conducted to gauge the country’s growing skills challenge and come up with suggestions to bridge the gap.
The IBM study said solving the threatening talent shortage will be vital to prepare India for the highly competitive global economy.
A majority of the country’s executives, who were surveyed for the study, clarified that the quantity and quality of skills in the Indian workforce are on par with those of other countries. Most even reported the workforce to be superior.
Sadly, however, just 40% of the new employees who got jobs in local employment markets are having the necessary job skills.
The IBM study titled ‘Upskilling India’ throws light on academics, corporate-recruiters, and emerging education leaders in the country. Further, the study analysed results of recent surveys ofcorporate executives, startup entrepreneurs and venture capitalists.
The survey also found that better access to higher-quality skills will definitely boost efficiency and productivity in the Indian economy.
DP Singh, vice-president and head – HR, IBM India/ South Asia said,“Skill is emerging as the new currency across businesses globally and in India. Today’s rapidly evolving economic environment makes upskilling an imperative across job profiles and sectors. India is caught by both a skill gap and a higher education sector struggling to keep up. That is why it is critical to take proactive measures to transform the higher education system to create a new model that better aligns with industry imperatives.”
The survey recommends the following:
1. develop more practical, applied, experience-based education
rethink higher education curricula by identifying opportunities to 2. infuse experience-based and real-world learning experiences
3. embracing new teaching technologies and techniques
4. higher education institutions should build alliances with industry partners, share learning and refine strategies.