The digital economy is now worth nearly 3 trillion. This is six times more than the US annual trade deficit or the UK GDP. This massive growth has enormously impacted businesses and changed talent requirements across industries.
The role of higher education in providing the skilled candidates needed for the workforce is crucial. In recent years, the transition between higher education and the crew has been difficult for many as employers are looking for employees with the right skills and abilities rather than hiring based on the ‘traditional qualifications.’
What’s the answer? To ensure that future employees are knowledgeable, adaptable, and industry-ready, align the skills of graduates with market needs. This article explores four ways to achieve that.
Think about your competency
Employers and policymakers are questioning the worth of a degree. Educators need to reassess the program they offer to reflect the market needs.
In recent years, competency-based hiring has become a popular approach for corporates. Some education providers have adopted a similar strategy. Competency-based education has gained popularity with policymakers and colleges because it can lower costs and provide flexible learning options for individuals.
Recent NACE Job Outlook Survey results show that leadership, teamwork, communication, and problem-solving abilities are essential for potential employees. Practical skills are becoming more sought after as employers look for employees with talents they can use on the job. This is forcing educators to offer more than just academic qualifications.
Take digital, for example. Demand for People with Digital Skills has skyrocketed in the last five years as companies from all industries have to adapt to the online world. They are therefore looking for staff with digital skills to help them navigate towards digital maturity and ensure they remain relevant when faced with disruptors.
Nine out of ten companies are investing in digital skills. Digitally-savvy graduates and professionals are highly sought after and enjoy an edge over their peers.
Do your research
It is essential to analyze and collect information about the skills in demand and those in the future.
Nearly 70% of job openings are posted online. This information is an excellent resource for educators to tap into the labor markets and discover what skills employers want.
Job ads posted on websites like Upwork, Burning Glass Monster, or LinkedIn provide a wealth of information for a low price and with a growing amount of detail and time. They also outline the skills and certifications that employers are looking for.
Labor market projections are also helpful in preparing graduates for the future. Belgium, Finland, and Estonia have pioneered adjusting their educational programs to the labor market.
Offer apprenticeships
The hiring rate of programs that combine classroom-based theory with advanced practical training has been successful. The prestige of these qualifications also drives the demand for courses from the labor market.
It is important to note that the German model uses ‘dual training,’ which combines classroom training and practical experience in a company. The German model has been so successful in combating youth employment and skill shortages that other countries have copied it.
Other countries, such as Argentina, Brazil, and the USA, have similar programs that combine classroom training with practical internships. Students rotate through different job positions during on-the-job training. In the US, these programs combine academic and vocational education to achieve a higher secondary qualification. This is recognized as a program that prepares students for apprenticeship.
Put students at the center
A higher education’s goal should be to assist students in acquiring more transversal abilities throughout their studies. Transversal skills are helpful for most occupations. They include ICT skills (Information and Communication Technologies), problem-solving skills, teamwork, literacy, and numeracy. Skills that apply to most jobs and required to learn new skills.
To do this, educators must move away from traditional teacher-centered classrooms and towards a student-centered learning model. To achieve this, educators can adapt courses to be more professionally oriented to encourage greater self-study and teamwork using blended learning on and off campus.
The traditional placements are often done late in programs. It is essential to integrate workplace learning into the program from the start. It is necessary to change these programs to focus on developing a variety of skills and abilities for students.
Several case studies have shown that transversal skills are a great way to improve the transition from medium-level education to higher education. They also make it easier for people who want to start their businesses.
The most important thing to remember is that there’s no simple solution. Each country, region, or state has unique differences, demands, and requirements for the professional workforce and educational system. Therefore, it is essential to carry out proper research to identify these needs and develop a plan that will be suitable for any educational institution.