Addressing the age-long debate: Education vs skills

Addressing the age-long debate: Education v/s skills

The debate over the value subdued to education v/s skills has been in talks for

decades. While no data can validate the preference of one over the other, the

employability of the students with professional degrees has been found to be falling which seems to be deviating the debate to one direction, i.e., the increasing value of skills in businesses.

According to NASSCOM-Mckinsey Report 2020, the percentage of freshers who are employable by the industry is just around 30%. This trend continues to be such over the last 5 years. What are the inferences we are gaining from this trend:

● The industry is spending a huge amount of time and money on the repair and

rework of talent to make them productive in their organizations

● The understanding of educational institutions about the industry requirements is sketchy

● The expectations of the industry and exposure to various career options based

on students' potential are low in the student community

● Teaching competencies and access to the right content/curriculum frameworks

have to improve substantially

● There have to be closer linkages between corporates and educational

institutions and innovative education models to meet the requirements of the

industry

HOW CAN ORGANIZATIONS WORK OUT THE SKILLS GAP AMONG

THEIR EMPLOYEES?

The skill gap is a problem that's affecting all industries, and it's one that can be

difficult to address.

The good news is that there are some simple ways to help your employees work

through the skill gap. Here are some tips:

1) Encourage self-learning: Give your employees access to online courses and other resources so they can learn new skills on their own time. This will allow them to take ownership of their development and ultimately get ahead in their careers.

2) Offer training programs: If your company doesn't have a formal training program in place, consider starting one up! It doesn't need to be complicated--you can start with something small like a lunchtime workshop or an online course series for new hires.

3) Have clear goals for employees: Set clear expectations for what you expect from each employee so they know how they're doing at meeting those goals (and if they aren't!). This will help them understand where they stand within your organization and what steps they need to take next if they want more responsibility or advancement opportunities within it!

WHY IS IT IMPORTANT FOR EMPLOYEES TO WORK ON THEIR SKILL

GAPS?

Employees need to work on their skill gaps because it helps them grow, develop, and reach their full potential.

Skill gaps are a part of every job. But some people are more aware than others of what they need to work on if they want to be the best at their jobs. And it's not always easy to know where to start!

To help you get started, here are some tips:

1. You don't have to know everything about your job before you start working on

skills you need to improve. You can learn by doing—that's how most of us learn in school!

2. Keep track of what you're learning so that you can see progress over time—and keep yourself motivated by knowing where you're going with this process!

3. Consider using resources like books and courses that can help guide you through the process of building your skillset over time.

Education is the most valuable asset but it becomes more valuable when it is

accompanied by the right set of skills. In a competitive scenario that exists in the

business space, businesses need to invest in the skillset of the employees. While for the employees, it is important to hone their skillset to stay relevant in the industry.