talent supply chain
TRANSCRIPT
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India has manpower of 1.2437 billion
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Still there is SHORTAGE for TRAINED MANPOWER
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ONLY 10% of Management Graduates are Employable
ONLY 17% of Engineering Graduates are Employable
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The Challenge ahead
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By 2026 64.8% of India’s population would be in the working age of 15-59 years
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A Demographic Dividend ? ?
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India will have skill gap of 70-80% across industries
People will have SKILLS not required by Industry
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SCARCITY of SKILLED & EMPLOYABLE Workforce
INEFICIENT TALENT SUPPLY CHAIN
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looking for Employment Opportunities
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FRUSTRATION
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Markets will GROW
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Job Opportunities will GROW
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Scarcity of SKILLED Workforce will also GROW
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In place of reaping Demographic DIVIDEND
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We will be heading for Demographic Disaster
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Great INDIAN Talent CONUNDRUM - Challenge
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Skill Matching is ESSENTIAL
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Desired Skills vs. Produced Skills
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Matching Demand side of the Talent
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Supply side of the Talent
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Shortage & Excess of Active Population by 2025
Figures are in Millions
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Skilled Man Power required by 2025 across Industries
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Skill Matching is ESSENTIAL
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Demand – Supply Gap is >>>>>>increasing
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Companies facing greater difficulty in filing key positions
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Right Skill set is ELUSIVE
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Sources of Manpower – Talent Suppliers
Destinations of Manpower – Talent Absorbers
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Sources of Manpower – Talent Suppliers – Institutes / Academia
Destinations of Manpower – Talent Absorbers – Corporate / Employers
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Processes at supply side of the Talent
ManpowerPlanning
Attracting the right Talent
ScreeningInterview
ManagementOffer
Management
Offer Acceptance
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ManpowerPlanning
Attracting the right Talent
ScreeningInterview
ManagementOffer
Management
Offer Acceptance
Job Seeker – The Supply Side
Job Giver – The Demand Side
Processes at supply side of the Talent
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OPTIMIZED Supply of Talent requires
Efficient Processes at each stages of talent supply
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STAKEHOLDERS in Talent Supply
(SUPPLY SIDE ) Talent Suppliers – Institutes / Academia
(Demand Side) Talent Absorbers – Corporate / Employers
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STAKEHOLDERS of Talent (SUPPLY SIDE)
The Seeker
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Talent (SUPPLY SIDE) - The Missing Link
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Talent (SUPPLY SIDE) - The Missing Link
“ Though industrial training has been made a part ofthe course, real impact would be visible only whenthe course curriculum includes recent technological
advancements and their practical implications. Attimes when you have industry interactions you
realize that what you are being taught was writtenoff long back by the industry ”
Irrelevant Course Contents
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Talent (SUPPLY SIDE) - The Missing Link
“Preparation for most of the courses requiresmemorizing the notes and answering the
questions. As most of the times we cram the notesto score well, retention of the concepts is not
long lasting”
Too much focus on THEORY
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Talent (SUPPLY SIDE) - The Missing Link
Course curriculum is not progressive and the course delivery methods are aged. In today’s times when world is employing more and more “Technology” backed methods most of the educational institutes still use the age old classroom delivery models which are geared towards teaching and not learning
Focus is on Teaching and NOT on Learning
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Talent (SUPPLY SIDE) - The Missing Link
“All our student life deviances are discouraged,risk taking is mocked then how can one expect from us
to be innovative and creative all of sudden when we join our jobs?”
More CONTROL and Less Experimentation
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Talent (SUPPLY SIDE) - The Missing Link
The evaluation system is flawed, instead of testing the application of concepts, the power to memorize the concepts is tested. Most of which is forgotten as the academic year ends. Perhaps this is the reason, why there are lot of educated graduates, who are unskilled.
Qualified vs. Skilled Manpower
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Talent (SUPPLY SIDE) - The Missing Link
“Understanding old concepts and their usage is interesting and useful, but the curriculum should include how these concepts can be applied in real corporate scenarios.”Merely replicating the case studies won’t help.Simulation method for developing alternative scenarios would help in increasing job readiness..
From Case Methods to SCENARIOS
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Talent (SUPPLY SIDE) - The Missing Link
Education system MUST ensure that the chosen stream matches the aptitude of students. No time is spent in assessing interest. Effort should be made to create a system that enables, proper decision making
in this regard.
Matching the Aptitude
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Talent (SUPPLY SIDE) - The Missing Link
Academicians and Corporate should coordinate and collaborate. If colleges are not producing right talent then probably right communication is not going to the colleges from the Corporate. Academicians and Corporate should get involved with each other and communicate from time to time. Corporate should take Internship and project seriously.
Co-Creation - Academicians and Corporate
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The Reality Check - The Employability ..?
Businesses around the world are reporting a skills shortage epidemic (39 percent) businesses around the world are struggling to recruit the right people.Lack of talent dampen business productivity, ultimately threatening future growth andprofitability
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The Desired Employability Skills
1. Cognitive Abilities / Skills - ability to acquire, retain, organize and apply information
2. English Language Abilities / Skills - ability to organize thoughts & Vocabulary
3. Basic IT Abilities / Skills - ability to organize and work with computer based applications
4. Behavioural Attributes / Skills - ability to Learn, Unlearn and Relearn
RETENTION & APPLICATION of KNOWLEDGE
COMPOSURE of THOUGHTS
SYSTEMATIC ORGANIZATION
ATTITUDE
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The Reality Check - The Employability ..?
India Skill Report 2014
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STAKEHOLDERS of Talent (DEMAND SIDE)
The Giver
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Talent (DEMAND SIDE) - The Missing Link
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Talent (DEMAND SIDE) - The Missing Link
Demand – Supply gap for talent is a big challenge.Despite various initiatives the availability of READY
TALENT is a problem. A lot of TIME and INVESTMENT has to be done to get the results from the students
Industry Readiness ...?
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Talent (DEMAND SIDE) - The Missing Link
Herd Mentality and approach for professional and technical skills is NOT good. The illiterate of the 21st
century will not be those who cannot READ, WRITEBUT those who AVOID risk of DIFFERENTIATION and cannot LEARN, UNLEARN and RELEARN that too very
FAST.
HERD Mentality.. Avoid Risk
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Talent (DEMAND SIDE) - The Missing Link
Difference between the “Qualified” and “Skilled” talent pool is a common problem across sectors.We do create lakhs of QUALIFIED student with extremely LOW required SKILLS.
Qualified NOT Skilled
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Skill Deficit.
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Skill Deficit.
PROACTIVEPREMPTIVEAbility toVISUALIZE
Composure of Thoughts
Analytical Reasoning
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Thought to Ponder...
Demand – Supply matchmaking is the only possible measure that can resolve the - TALENT CONUNDRUM
of our country.
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AREAS of CONCERN
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Indian Education System is under QUESTION MARK...
Ineffective Course Design – Regulatory Bodies
Ineffective Teaching Methods - Pedagogy
Higher educational institutions are not up to the mark
Poor Selection & Recruitment norms for the Faculty
Weak and Ineffective Assessment procedure
Focus is on Teaching and NOT on Learning
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Across all businesses, people need to add technology and problem solving skills to their existing skill sets.
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Educational institutions and Organizations SHOULD synchronize skills development with skills demanded
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Matchmaking of Demand and Supply of Talent seems promising
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Bridging GAP
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Industry Expectations :
Learning ability to communicate and present (ATTITUDE)
Adaptability to Work Environment and Culture ( TEAMWORK)
Accountability and Responsibility (PERFORMANCE)
Integrity and Commitment to work (RESPONSIBLE)
Etiquettes & Mannerism (BODY LANGUAGE)
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Students expectations Industry expectations
Knowledge and skill sets Industry expectations
Demand – Supply GAP (Area of Concern)
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Student Employee
Exams are the major qualifying criteria Each day performance is qualifying criteria
Minimum marks to pass. Excellence is the norm .Survival of fittest.
Maximum effort can fetch 100% marks Maximum effort: increment, elevation.
Hours per day flexible Productivity is important
Individual Efforts Highly interlinked – Team Work
Memorize and remember Understand, Remember, Utilize.
Practical 25% Practical 100%
Mind yourself Need versatility.
Less Competetive Highly competitive
Reasons for the GAP (Area of Concern)
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Different
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Bridging the GAP – Fes Suggestions
1. Education is not a Commercial ActivityFocus on Quality and not on Quantity
2. Transparency in Education SystemEducational norms to be clear and simple
3. Recruitment Norms for Faculty to be redefined 5 yrs. Industry experience prerequisite to be a Faculty
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4. Comprehensive Student Admission processSkill based aptitude test & weight age to work exp.
5. Student Assessment Process at multiple levels Students assessment process should be continuous
6. Industrial Training & Projects More Research based assignments and activities
Bridging the GAP – Fes Suggestions
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7. Redefine Hiring ProcessHire students based on capabilities & skills, NOT the college’s name
2. Internship and Research projects – Serious BusinessSerious Supervision required
3. Industry InterfacingInteraction with Industry Experts
Bridging the GAP – Fes Suggestions
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4. Training & DevelopmentMDP – Management Development Programs
5. Research Based ConsultancyEncourage interactions with academicians
6. Industry SponsorshipSponsor students for their higher studies
Bridging the GAP – Fes Suggestions
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To be QUALIFIED or To be SKILLED
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CHOICE is yours!
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Credits: India Skill Report 2014