Lack
of Corporate Exposure & focus towards Traditional Method of Teaching:
Majority of Students in India claimed lack of proper corporate exposure during
their education which created a mismatch of expectations when they started
working. College curriculum lacked Live Projects and Internships which made it
difficult for the students to manage on their own. 47% of Indian grads were not
directly employable in 2019 in India due to absence of these practical courses
and implementation based learning. Lack of Case Studies in the college curriculum
resulted in constant requirement for summer training programs of less than 2
months and career programs of 3-5 months for building resume, interview preparation
and better internship opportunities.
Employers’
disappointments with recruited fresh graduates: Majority
of the employers in the country believe that there is a gap between talent
available versus talent employable. Employers feel that nearly half of all
students screened lack direction as they have almost zero clarity on the role,
industry and company they aspire for. Employers have to make huge Training
& Development expenditure for the learning of a fresher. Majority of the Employers
face continuous challenges in terms of attitude, skill and knowledge alignment
among hired entry level recruits which resulted in high attrition rate due to
expectation mismatch. 47% of Tier 2 & 3 Colleges faced challenges in
developing technology infrastructure to support their journey of up-skilling
students which further resulted in high attrition rate when they join their
companies due to their expectations mismatch.
Increasing
Government Initiatives: Government has been initiating
programs over the years to improve and bridge the professional skill gap which is
there in the graduates. Various Massive Open Online Courses were launched such
as Swayam and initiatives like Skill India and PMKVY to provide training on
employability with job assistance to the graduates. However, the declining
quality of the programs over the years resulted in percentage drop in terms of
number of individuals getting placed. Government though trying to solve
Skill-gap problem through its platform and initiatives, it still require
private companies and ed-tech platforms support to bridge the targeted gap.
Analysts at Ken Research in their
latest publication “India
Career Skilling Landscape: Understanding the Perspective of Students, Working
Professional, College and Employers”, by
Ken Research suggested the pain
points from students in terms of guidance and skill gap, employers in terms of
shortage of employable talent and colleges facing problems in placing students.
This resulted in huge demand and supply gap in current employment market. Graduates
not getting placed created huge demand for career skilling platforms, providing
training in terms of required skill sets along with assistance towards their
desired jobs. Market is anticipated to grow with increasing number of job
opportunities for freshers across different sectors and job roles and improving
hiring intent of employers for trained freshers. Re-skilling and Online
Certifications market in terms of Revenue is anticipated to register a positive
double digit growth rate of 22% during the forecast 2019-2022F.
Demand Supply Gap (Number of Job Seekers and Jobs Available)
Target Addressable Market
Service Addressable Market
Service Obtainable Market
Online Ed-Tech Market (Revenue)
Higher Education
Professional Skilling
Technical Skills
Soft Skills
By Sectors (Employment Workforce)
IT & ITES
Retail & FMCG
Pharma & Healthcare BFSI
Manufacturing
Automobile
Telecom & Allied
BPO, KPO
Others
Companies Covered:-
Major Companies
Eruditus &
Emeritus
NIIT
Simplilearn
Upgrad
Great Learning
Talentedge
Coursera
Jaro Education
Edureka
Hughes Global
Education
Talent Sprint
Imarticus Learning
Udacity
Edx
Harappa
Mentorica
Key Target Audience:-
Career
Skilling Companies
Professional
Skilling Companies
Ed-Tech
Companies
Independent
Investors
Government Ministries
Industry Associations
Universities
Corporate Training
Companies
Venture Capital Firms
For More Information on
the research report, refer to below link:-
Related Reports:-
Contact Us:-
Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249
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