The debate over whether Indian graduates are truly prepared to join the workforce has gained momentum in recent years, given the evolving nature of the job market that requires continuous skill enhancement. The catalogue of in-demand skills are also changing, with new ones emerging at a rapid pace. A recent study by HirePro, an AI-based hiring platform, sheds light on this debate, as it focusses on the wide gap between employer expectation and the perception of academic institutions about the industry-readiness of their students. The survey, which has brought to light the gap between academia, students and corporates, included 20,000 candidates, 350 colleges, and 200 corporates.
The report highlights a significant disconnect between academic institutions and industry expectations. Here are the key highlights.
– While 70% of educational institutions assert that their graduates are well-prepared for the workforce, with at least 60% deemed job-ready, only 16% of companies agree that students meet industry standards.
– 71% of students contend that a high CGPA alone is insufficient for securing employment, stressing the need for a stronger focus on technical skills. Despite this, both academia and the industry continue to emphasize only on academic performance.
– 67% of students expressed a desire to become entrepreneurs within the next decade. But only 5% of the surveyed companies indicated a preference for employees with entrepreneurial ambitions, despite promoting intrapreneurial opportunities.
– More than half the companies surveyed anticipate that candidates will possess skills in generative AI during placements.
Broadly speaking, the findings underscore the need for improved academia-corporate partnerships to develop effective job-ready programmes.
