Headquartered in Noida, India, Havells India Limited (BSE:517354) is a Rs.7579 Crores leading fast moving electrical goods (FMEG) company and a major power distribution equipment manufacturer with a strong global footprint.
It is time we stop blaming the current environment of cut-throat competition for the large scale of unemployment. The real reason is the lack of talented professionals. The fresh graduates are low skilled and they require an extensive training to be ready for work. The question is why the curricula at various educational institutions are not according to the demands of the industry. The education system of India needs an overhaul and while it takes its time to get better, the colleges and the industry should work to build a communicative interface.
Certain shortfalls like poor quality of education, archaic curriculum and aged infrastructure has created this circumstance where most of the students lack the basic workplace proficiencies, for example communication skills and the ability to solve complex problems. It is not a matter of technical skill, but of knowing how to think and then applying that knowledge.
Unfortunately, most of the students only acquire the textbook knowledge and lack proper vocational training. As a result, students who graduate are not well equipped with the required skill sets and companies have to bear additional cost to train these fresh graduates. The money spent on the trivial methods of teaching can be used more efficiently on practical aspects of learning.
Industry to Play the Role of a Teacher
The Indian economy has experienced rapid growth in the recent years but the education system has not evolved with the same pace. There are methods like on the job training to the graduates which are very helpful in making them aware of how the industry works. Today, the fresher students are least aware of the practical knowledge as universities usually focus on theoretical comprehension. Therefore, it is of utmost importance to focus on providing vocational training and practical know-how to ensure job ready skills for the students.
There is also another way to make the students get a feel of what it is like to work in different domains of the industry and that is the concept of summer internships which actually bridges the gap. Most companies provide opportunities to students who would like to get a sense of the industry and understand their capabilities more closely. The educational institutions should try to reach out to the corporate world and involve them in the process of enriching the talent pool. The industrial organizations should also play their role in this as it is ultimately going to help them in the long run to maintain their human resource which is laden with expertise. At Havells, we do provide internships to students who would like to get a sense of the industry and understand their capabilities more closely. A lot of times these students join us.
Learning vs. Earning
It is usually seen that freshers run for big names when deciding to start their career. You will surely earn good chunk of money, growth, exposure and personal development; however working with the small companies or startups provides with the opportunity to learn faster. Another advantage of working in small firms is that the work there is not multi-layered in initial years which help to learn and understand more to get a better view of operations. Freshers tend to gain experience in a variety of areas, giving them multiple skills and areas of expertise to add to their resume.
The only way to push this progress and set it on a war-footing is by increasing the awareness among the students, colleges and the industry. We should be open to new ideas and dare to implement them if they can bring good results even in the long run. The students should try to persuade their institutions to be more rational in their approach in terms of education and the industry should look for new ways to get involved in the education sector by opening new institutions with new courses which consider the requirements of the industry. Let us all work together to make sure that we get to use what we learn.