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.
Key Segments Covered:-
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
