• Source:JND
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In today's rapidly shifting global landscape, there is an unparalleled demand for skilled employees. However, a significant obstacle exists the ever-expanding gap between the skills provided by higher education institutions and the skills required by companies. Skill shortages have become a global problem that affects both developed and developing countries. According to a Manpower Group survey from 2023, 77 per cent of employers worldwide report difficulty filling vacancies, a significant increase from 35 per cent in 2013. Even in India, which has a large pool of youthful talent, just 45 per cent of graduates are considered employable, according to Mercer's "India's Graduate Skill Index: 2023." This stark disparity highlights the critical need for higher education institutions to change their approaches and courses to bridge the gap between.

Dr. Sanghamitra Buddhapriya, Dean (Academics) and Professor (HRM) FORE School of Management in New Delhi, brings attention to the transformative paradigm in education. This transformation involves a significant shift away from emphasising degrees in favor of a heightened focus on cultivating essential skill sets to bolster employability prospects. Addressing the employability challenge involves promoting education in the realm of Artificial Intelligence (AI), enhancing the global mobility of students, and redefining the role of educational institutions. Dr. Buddhapriya also emphasises the practical and innovative approaches required to redefine and enhance higher education.

Here Are The Key Points

Industry-Related Curriculum

To overcome the issue of employability, higher education institutions must actively work with companies to ensure that their courses fit with real-world expectations. Academic institutions have always incorporated industry personnel in curriculum design, development, delivery, and review. This process should be continued and expanded, as advice from industry professionals is vital in keeping education relevant and industry-focused.

Furthermore, a change toward outcome-based education is required. Institutions must identify and cultivate job-market-relevant competencies. Input from industry is critical in this process, as it assists institutions in defining program and course objectives, pedagogy, and assessment methodologies. A Business Management program, for example, should try to teach problem-solving and decision-making (PSDM) skills, whereas an International Business program should focus on developing a global mentality. This customized approach ensures that graduates have the necessary abilities for their chosen fields.

Learning through Experience

Education has entered the era of knowledge democracy with the introduction of AI and generative AI. Because students have access to large amounts of information, classroom instruction becomes more about experiential learning rather than knowledge sharing. Faculty should use a variety of approaches to augment this experience, including:

- Discussions in the classroom
- Simulation-based learning involves the use of technologies such as markstat, capstone, and HR simulations.
- Setup of specialized labs (e.g., Communication Lab, IT Lab, Fintech Lab)
- Management simulations
- Case Study Instruction
- Flipped classrooms promote pre-class interaction with course information while leaving in-class time for debates and application.
- Learning Through Collaboration
- Integration of Technology
- Problem-Solving Education
- Project-Based Education
- Exposures in the Real World

To establish a dynamic and engaging learning environment, several educational approaches, such as constructivist, collaborative, reflective, integrative, and inquiry-based approaches, should be considered.

Enhancing Student Global Mobility

Flexibility in gaining academic credits is critical for increasing students' worldwide mobility and employability. The Academic Bank of Credit (ABC) system, as defined in NEP 2020, allows students to accrue credits from a variety of sources, including internships, industrial partnerships, and other universities. Furthermore, colleges should promote international relationships with approved universities worldwide, providing an environment in which students can acquire a diverse and globally recognised education.

Industry/Organisations' Role

Finally, educational institutions are not primarily responsible for closing the education-employment divide. Industries must play an active role in the process. Traditional complaints of poorly planned curricula and pedagogy are no longer applicable, as sectors undergo rapid transformation.

Academic and industrial collaboration is critical. Industries may help by doing the following:

- Live projects, internships, and apprenticeships are available.
- Making industrial visits easier.
- Providing assistance in the construction of specialized labs.
- Development of industry-specific programs and courses.
- Providing cross-functional training to emulate real-world teamwork.
- Organising boot camps, hackathons, and competitions for skill improvement.
- Creating entrepreneurial and innovation hotspots.

Such efforts improve students' employability and train them to be adaptive and resilient in an ever-changing job landscape. Practical approaches to higher education are unachievable without business ties, and collaboration between educational institutions, enterprises, and technology suppliers is critical to accomplishing the objective of positioning nations as hubs of innovation, entrepreneurship, and economic development.