Of the five million graduates, only 34% are readily employable. Most lack necessary skills required for any role in any industry, according to an assessment tests done by Wheebox-People Strong in association with CII. Census data released in September 2013 indicated that 63.4% of India’s total population falls in the working age group. According to a study on skill development in India conducted by NSDC, 1 million people join the workforce every month i.e. over 12 million per year.They can be categorized as highly skilled, semi-skilled or unskilled, with majority falling in the last category.How this issue of employability is addressed will determine whether India eventually experiences a demographic dividend or a demographic nightmare.
According to another study by Aspiring Minds, 47% of graduates are not employable in any sector of the economy. Poor knowledge of English and inadequate computing skills are compounded by the absence of even basic domain knowledge for roles and industry that job seekers hope to join. Unfortunately a vast majority of students prefer dead-end and non-value adding graduate degree to vocational training.
A reorientation towards vocational training or introduction of strong aspects of “learning by doing” and soft skills in graduate programmes can remedy this situation. As an immediate response, the Government is striving to achieve formal/informal skill development of the working population through various initiatives, which employ fresh learning methods.HR professionals and the Government together need to devise educational programmes which impart the required skills to the students to make them productive and employable. The private sector needs to spell out what is it that they are looking for in a fresher.
Chosen excerpts by Job Market Monitor. Read the whole story at Jobs: Skill deficit , a myth or reality? | Business Insider India.