| | 8 March 2016HIGHERReviewFinishing schools: New Trend in Higher Education By Dr. Ananthapadhmanabh Achar, Director, Sahyadri School of Managementuality manpower feeds and nourishes industries and augments the economic growth. Therefore there is need to create a pool of skilled manpower, who can be directly absorbed by the industry. Higher education system in India which is supposed to provide skilled manpower to Industry is out-of-sync with market needs. It offers dormant knowledge and fails to meet the requirement of the corporate world. What is taught in the class room is not practiced in the Industry and what is practiced in the industry is not taught in the class room. Therefore, the largest pools of young graduates, passing out of the educational institutions are unemployed due to employability crisis. Due to this unstable labor market, India today is facing a paradoxical situation. Even though plenty of people are available in the labor market their skills are not meeting the requirements of the industry. At present, if the fresh graduates are hired by industries they need to be trained for 8- 10 months to make them productive. So for the first 8th month post recruitment, employees are not productive for the organization. Because of the severe competition, corporate sector today need first day first hour productive employees. This has resulted in vast unemployment. Because of widespread unemployment, various sectors of the Indian industry are facing a shortage of skilled labor. This paradoxical situation has emerged over a period of time due to faculty system in the Indian Higher education. Indian Higher Education system has three major players and they are Corporate, Governments and Educational Institutions. All these three players work in isolation. Corporate sector have no time to interact with Institutions to tell them requirements of the industry. Educational Institutions are interested only on returns of their investment. Regulatory bodies instead of framing polices for making industry and institutes work hand in hand, are busy only in enforcing outdated policies for regulating higher education. As a solution to these problems in the Indian Higher Education system, to prepare readymade candidates, who can start contributing on the first day of their requirement in the organization; new institutions called finishing schools are emerging in the labor market. `Finishing school' is QIn My View
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