India and Emerging Trend….

India has emerged the second fastest growing economy after China…

India to become world’s fastest growing economy by 2013-2015:MORGAN STANLEY.

With the continuing structural reform and globalization, INDIA is poised to

Accelerate its growth rate to 9-9.5 % over 2013-2015..

Unemployability is today a greater issue than unemployment. As APJ Abdul Kalam, Former President of India said, "It is not unemployment that is the major problem; it is the question of unemployability that is the major crisis in this competitive arena…" According to a NASSCOM-McKinsey report, The Indian Industry will face its biggest challenge ever: a talent shortage of 3.1 million knowledge workers, across Industry, by 2010 compounded by the fact that only 25 per cent of fresh engineers; and a mere 10% of fresh graduates are actually employable!

700,000 engineers graduates Employable – 25%

2 million general graduates Employable < 15%

Approximately 75 – 80 million jobs will be created in india over the next 5 years.. 75% of these jobs will require efficient employees.. 90% of the current jobs in india are skill-based and require vocational training, which is received by only 10% of our population..

What Are The CAUSES???

Graduates come out of college, polished in academic skills. While academic skills definitely count, various other skills such as communication, interpersonal- skills,

situational behaviour and so on also play a pivotal role in helping the graduates

take the plunge in industry.

Skill development is regarded as a second-order activity for academics.

Surveys indicate that the nature of graduate employment is changing and diversifying and

many students are realizing the needs to develop the other skills.

Employers want potential employees with a variety of skills.

There is a pronounced “skill gap” both in terms of quality and quantity ;and the current systems are not geared to meet the industry requirements.

The key emphasis here is on

On one hand there is high growth with a strong demand for labour and on the other hand there is a large pool of labour , majority of it unemployable.

There is a need for greater interaction between industry, government and academia,to develop curriculum that matches the industry needs.

Industry Academia

Business Scenario- The Reality

Due to lack of the right skills , businesses invest six to twelve months to train the resource. Having the right people in place and ready to execute a company’s business plans as and when

required-serious competitive advantage.

Interviewing candidates based on their current knowledge as compared to skills required.

Limited talent -pool, hence high attrition , leading to additional costs for hiring and training.

Need professionals who are responsive to economic , social , cultural , technical and environmental change and can work flexibly and intelligently across bussiness contexts.

Organizations want the new workforce to apply more creativity at work, “set your own goals and achieve your own goals “

Create opportunities for yourself.

The present day companies are willing to give you the freedom to work creatively.

The company give freedom for growth and benefit of the company for which you work.

.

Employability is enhanced by: Bringing employers into the course design process.

Modifying courses to match industry’s needs.

Using guest lectures from business.

Building links with local employers.

Representative employer and professional organizations to encourage employers to offer more work experience oppportunities for students.

Higher education institutions and the world of work co-operate in many ways such as knowledge and technology transfer ,consultancy services,

research collaborations and employer input into courses

1. The current economic situation creates a sense of urgency in devising ways to boost the creation of jobs, and to improve young people’s access to those jobs. But the solutions we develop can and should be sustainable on their own terms. 2. In this way will add to the permanent accumulation of tools and strategies that can help access both cyclical down-term and long-term structural challenges, and that can improve school- to-work transitions and participation of young people in decent work. 3. In laying out the case of business initiatives to improve youth employment outcomes,it is important to articulate a value proposition for employers that can be foundation of a sustained policy and sustained investment.

CHALLENGES:

Millions students graduating out of India’s colleges run the risk of being unemployed and THERE are only few jobs for India’s overflowing technical talent pool.

Students reported inadequate levels of career development learning during formal education. Many commented that they lack long-term goals, a view shared by many employers and graduates.

MITIGATION FACTORS:

Graduation placement programmes would be developed to support new graduates in making the transition to employment ; these programmes include a training and professional development skills.

Employers would visit institutions to raise awareness of their sectors, and should explain what skills they require and need in the company.

The responsibility for developing students’ employability is done almost by osmosis. It’s a natural by-product of deciding on having an outcomes learning mode; on deciding the global outcomes; on deciding that you embed them and integrate them into the curricula and then making sure that you have programs and services where they can be tested and groomed; on deciding that you have a full time, final internship program; on deciding that the internship program must have faculty involvement. ONE should have an awareness of the employment market, because that’s the reason why this place exists. So, it’s everything!’

The National employment policy would aim at increasing formal sector jobs as well as improving the quality of jobs in the unorganised sector.

THANK YOU.