Combined efforts of educational institutes and HR can bridge the necessary gap in meeting industries’ standards says Dr. Harsimran Sandhu, Professor of Finance and Area Chair Finance, IMT Ghaziabad.

The increasing trend of educational institutes is also raising the demand for meeting different career aspirations among students. Freshly graduated students start their careers hoping to match their energy with the companies’ aspirations. However, only 40% of graduates stayed with the company. “A survey revealed that lack of attention, guidance, and enough conversations from the managers was a major issue in leaving the company”, says Dr Harsimran Sandhu, Professor of Finance and Area Chair Finance, IMT Ghaziabad, while speaking at the BW People’s CEO CHRO Conclave 2023.

Employees tend to learn faster and more efficiently under the right guidance of seniors or mentors in the company. “It is the culture of the organisation that tells you how long the employees are going to stay. It’s not the money being paid. It's about the culture. The culture comes from top management,” added Sandhu further.

He highlighted the need to bridge the gap between educational institutes and employability by designing the curriculum with specific skills and delivering the same in the process. “Employability means that a candidate is day-one ready in the industry to come and perform,” points out Sandhu.

Communication is key to effective management among companies. “The continuous communication of the company with educational institutions can ensure the employability of students is much higher,” highlights Sandhu.

Industries looking for specific skills are increasing to match organisational goals. Institutes must design the curriculum to match those skills for students to achieve success in their careers. "A skilled workforce right from the campus can happen if the companies come and HR can take the lead in this,” added Sandhu.

He talked about various essential steps in bridging those gaps and making sure that both organisational and employee aspirations are met.  Curriculum alignment will bring relevant change in this regard. Ensuring a common platform for students, faculty, and industry will be fruitful. He even focused on the need for research collaboration and industry projects in education centres.

Students are looking for long-term career opportunities, which must be nurtured in the right way by mentors to get the maximum outcomes, says Sandhu. It is the combined effort of the companies and educational institutions overall to move a long way ahead, he further added.