When we think about careers that didn’t exist 15 to 20 years ago, we may think of new-age careers like Performance Marketing, Virtual Assistance, Social Media, SEO, or Prompt Engineering. Now, one can only imagine the number of jobs that are yet to be created 20 years later.
Recent statistics shared by PwC mention that there will be three times the need in hiring for jobs that demand AI skills. With AI implementations in industries on the rise, the future of work is bound to change and adapt exponentially.
This means the future workforce is even more inclined towards the changing dynamics of the job market. And to do that takes a lot of skill refining and being accustomed to the “learn, unlearn, and relearn” concept. Considering this, EdTech is moving towards a more holistic approach to bridge the skill gap. They’re encouraging the next generation to upskill themselves through a formal educational degree, online certifications, or self-learning.
This article outlines actionable strategies for universities and EdTech professionals to bridge the gap between what graduates know and what employers need in this digital era.
Addressing The Skill Gap
Before stepping into the workforce after graduation, freshers are often qualified for a job role but not skilled enough. Their educational degree does not equip them with skills cut out for the market; it covers only the knowledge part of it. The skill gap in India is quite a fact, and companies have a hard time looking for talent, while unemployment has become one of the biggest challenges in the country. Given we’re a country with the largest demographic dividend in the world, more than 75% of India’s graduates end up unemployed because they lack the skills needed by the industry (source: ProSchool by IMS)
A simple yet real example would be the number of computer science engineering graduates in our country. According to an article shared by Pro School, 64% of graduates in India lack skills, and most seek non-tech-related careers in marketing, social media, and business management. Given the rise in AI and the need for technically skilled talent, the number of graduates who get jobs in IT is quite low.
A problem that continues to exist is the gap between formal education and the demanding needs of the industry. According to Economist Impact, here are a few factors affecting the rise of digital skills in this era:
● Career switch due to the fear of layoffs and uncertainty
● Need for better-paying roles for sustenance
● Personal development and employer incentives
● Job satisfaction and career progression
The NEP 2020 framework highlights the need to bridge the skill gap between education and employment. The framework emphasises outcome-based education (OBE), which catalyses students’ skill development in preparation for future employment. While traditional education focuses on memorising and knowledge building, OBE addresses the gap by giving more importance to subject-specific knowledge with measurable learning outcomes. This would include honing critical thinking, adaptability, teamwork, problem-solving, and communication skills. To equip our future generation with these in-demand skills and give them the exposure they need to thrive in the workforce, here are a few ways EdTech can bridge the skill gap during formal education.
Encouraging a StartUp Ecosystem in Institutions
India’s gig economy comprises 7 million gig workers who prefer flexible, temporary jobs and is expected to grow up to 25 million by 2030 (Source: Economic Times). Due to job volatility, the gig economy continues to grow along with the rise of startups in India. With more than 1 lakh recognised startups contributing to more employment opportunities, most of the country’s youth still consider having “stable” jobs at big industry corporations. Although the startup ecosystem provides extensive opportunities that can mould them into an employable workforce, they lack evergreen skills like:
● Cross-functional collaboration
● Time management
● Problem-solving
● Critical thinking
If institutes encourage this pattern during students’ peak learning years, it helps them apply concepts from their formal degrees to real-life business challenges. Well-known institutes like NIIT University (NU) have already been incubating fresh ideas from students, which have translated into innovation-led startups.
According to Inc42, we have over 300+ startup incubators in India, and we hardly ever hear of a startup having its roots in a student incubator at any tech college or university. While this is a little concerning, it could also be a turning point for colleges to encourage new-age learning.
Making Online Certifications a Part of the Credit System
Given several colleges are looking to achieve autonomy, most IITs and NITs have already been pushing the idea through online certifications on NPTEL (National Programme on Technology Enhanced Learning). Qualified professors curate these online courses, and the certifications hold immense value, which is recognised by industries. According to Education Times, NPTEL has partnered with more than 5000+ colleges. They continue to encourage colleges to provide value-added courses as a part of the curriculum.
NPTEL offers more than 3000+ self-study courses and has translated more than 200 courses into one or more languages to reduce the language barrier. Although it isn’t mandatory to take the exam after course completion, industry experts highly recommend it as these courses integrate learnings from both the industry and formal education.
Exploring Careers That Go Beyond the Conventional
With more than 12,000+ career options, it’s normal for someone to think, “If I don’t get into this field, I can try the next alternative.”
According to People Matters, more than 95% of Indian students believe they will get better job opportunities if they pursue a professional or master’s degree. In that hope, a major portion of students end up spending for a degree they thought was trending and in demand, only to realise that they’re not satisfied with their job. Take engineering graduates, for instance. In India alone, 1.5 million students graduate with an engineering degree, of which 1 in 10 get placed into core fields while the rest take up similar or completely different routes to land a job (Source: Business Standard).
Still, there’s more preference towards sought-after careers like engineering, medicine, and law, especially due to peer pressure and the expectation to satisfy a parent’s dream. The major downside to this is that parents spend big money on their child’s education based on popular careers when it could have been invested for what’s best for their child. And to do that, career awareness is paramount.
What’s even more alarming is that 93% of Indian students are aware of seven career options, according to India Today. Almost 2 million graduates and half a million postgraduates still remain unemployed in India. With more niche careers on the rise, the number of career options is only going to increase. That’s why one needs to be equipped with both knowledge of various career paths and 21st-century skills to thrive in the job market.
Given the rise of specialised careers, it’s easier to equip students with specialised skills, but with proper guidance from experts in the field. Common aptitude tests alone won’t suffice – the end result from an online assessment will only direct them to popular career options.
Inclusion of Career Guidance and Counselling in Schools and Colleges
Making career guidance and counselling an initiative in schools and colleges can be a game changer. Think of it as a child being guided by their parents in their initial years during their upbringing at home.
India Today states that more than 70% of school and college students are unaware of the career paths they wish to pursue. This highlights a critical gap in career guidance and counselling, and it’s about time to bridge that gap.
According to the National Skills Network, the growing student population is in dire need of guidance to explore career paths that go beyond conventionally sought-after careers. This is because constant advancements spring up across industries, which call for more skilled and prepared individuals than an educationally qualified person. Another reason would be peer pressure—family and friends influencing the student’s career choices and the common notion of traditional careers providing job security in the long run.
According to ET Insights, career guidance in schools and colleges plays a crucial role in the following ways:
● Helps the student understand the relationship between their education and career goals
● Makes students and institutes more aware of the trends in the workforce and new-age skills required, and seek career opportunities that go beyond traditional career paths
● Prepares the student with the resources they need to improve their skill set and align their interests towards a career path they’d find more fulfilling
● Provides an avenue to explore various career paths with an expert to make more informed career decisions
● Bridge the gap between theoretical knowledge and industry requirements; this can be done by conducting career fairs, regularly organising guest lectures, taking students on industry visits, and providing internship opportunities.
Platforms like Mentoria provide a holistic approach in this regard. In partnership with educational institutes and government organisations throughout India, they go beyond test and counselling to handhold students until they step into jobs they will love. Career guidance, especially the kind offered by platforms like Mentoria, focus on an interest-based approach over aptitude, as they believe interests will determine growth in the long run..
Using Simulated Environments like AR/VR for GenZ Learning
It’s no secret that the current and fast-moving generation is always on its toes when it comes to the latest trends. And when it’s technology, it goes without saying that they’re the most advanced generation the world has seen to this date. Learning on the go has become more convenient, and several academic institutes are already encouraging tech-based learning.
The idea is to provide students with a realistic experience of what utilising their skills in the workplace would look like. According to PWC’s Metaverse report, students who were trained using new-age technology like Augmented or Virtual Reality learn four times faster compared to those taught in a traditional classroom. The report also found these students were 257% more confident applying skills after learning.
Here’s how AR/VR simulated learning can help both students as well as corporates and institutions:
● You save on cost: While there are, of course, costs involved in setting up and maintaining simulated environments for training, you’ll notice significant cost cuts in terms of hiring trainers, facilities, and physical equipment when it comes to hands-on training.
● You save on time: Simulated environments can save up a major chunk of your time because you’re pretty much following the “learning by doing” concept. So imagine a course duration is for 8 hours spread across several days of theoretical learning. With a simulated learning environment, the number of hours can be drastically reduced to even minutes, and before you know it – the student has already learnt the skill in a much better way than it would have been in a traditional classroom setup.
● Memory retention: With mental health concerns on the rise, having a good memory provides a great sense of satisfaction, especially when you’re able to apply something you learnt about. Simulated environments are much more interactive, and the more one practises something hands-on, the better one gets because learning by doing is a great technique for retaining memory.
● Risk reduction: Learners can engage in VR and AR environments to make mistakes without having to face real-world consequences. As risks are almost eliminated, they can practise their skills in a virtual environment and improve their confidence in carrying out the task. This would be useful when the student has to solve problems or implement new solutions in the real world since we all know that not all risks can be mitigated.
Bridging the Skill Gap with EdTech
The evolving job market demands a workforce that is not only qualified by education but also skilled and adaptable. It’s no secret that the gap between formal education and industry needs is a significant challenge, given many graduates are still not job-ready. EdTech can bridge this gap by creating a sense of urgency so that institutes can work towards nurturing a future-ready generation.
The need for EdTech to bridge the skill gap will persist, but with the right implementations and strategies, institutes can leverage its resources to the fullest and ensure the gap is minimal by the time their students transition into the workforce.
