Employers often struggle to find candidates who possess the necessary qualifications to fill open positions in today’s rapidly evolving labor market. The STEM (Science, Technology, Engineering, and Math) industries, driven by technological and innovative advancements, face a significant skills gap that hinders their growth. To address this gap, it is essential for all stakeholders—government, industry, and educational institutions—to collaborate. This article focuses on the role of STEM higher education in bridging the skills gap.
The knowledge and skills engineering students acquire during their academic journey greatly impact their employability and success. Recent discussions have highlighted a disconnect between the industry’s requirements and the skills provided by educational institutions.
A study conducted by YouGov and MathWorks sheds light on how universities and businesses perceive their responsibilities in nurturing and supporting recent STEM graduates in the UK, as well as integrating them into the workforce.
The study revealed the following key findings:
- A majority of respondents agreed that there is a gap between the skills businesses demand from fresh graduates and the skills they possess. 79% of academics and 59% of employers acknowledged the shortage of competent graduates to meet societal needs.
- Both universities and industries believe that collaboration among stakeholders can bridge this gap. 64% of academics and 52% of employers feel that the sector should contribute more to address the issue. Notably, while 46% of colleges support such collaboration, 63% of businesses believe they should have a greater say. Academics advocating for increased industry involvement suggest that internships and job experiences can be effective approaches. Additionally, 61% of companies and 68% of colleges believe it will take at least ten years to close the skills gap.
In India, the Union Budget 2023 allocated a record-breaking Rs. 1.12 lakh crore to education. The budget focuses on key areas that will foster the expansion of the ed-tech industry. Alongside existing skill-building and education initiatives, the introduction of the “Pradhan Mantri Kaushal Vikas Yojana 4.0” (PMKVY) aims to close the skills gap by equipping thousands of young individuals with industry 4.0 capabilities such as coding, AI, robotics, and soft skills. The budget also plans to establish National Digital Libraries for children and teenagers, create 100 app development laboratories in engineering colleges utilizing 5G services, and set up Centres of Excellence for Artificial Intelligence in top educational institutions.
The importance of STEM education in driving economic growth and enhancing global competitiveness has long been recognized. Ensuring that the workforce possesses the skills required to foster innovation and technological advancements is crucial. However, traditional educational paradigms must adapt to keep pace with the rapid rate of technological progress in the field.
The following list provides actionable activities to address these needs:
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Specialized training
STEM higher education institutions play a critical role in closing the skills gap by equipping students with the knowledge and skills required to meet industry demands. These institutions can collaborate with industry partners to identify high-demand skills and adjust their programs accordingly. They can offer specialized training or credentials in emerging fields such as data science, cybersecurity, or artificial intelligence to meet the demand for these skills.
Also read: 15 Skill Development Courses To Boost Your Employability After 12th
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Experiential learning
STEM institutions can provide opportunities for experiential learning, allowing students to apply their knowledge in real-world settings. Through internships, co-op programs, or projects in collaboration with businesses, academic institutions enable students to gain practical experience and apply their skills in a professional environment. These experiences bridge the gap between classroom instruction and industry requirements, preparing students for successful careers.
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Encouraging diversity and inclusion
STEM higher education institutions can contribute to closing the skills gap by promoting diversity and inclusion in the field. By ensuring that underrepresented groups, such as women and minorities, have access to education, these institutions help develop a more diverse and inclusive workforce. This diversity brings a wider range of perspectives and ideas, fostering innovation and creativity.
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Promoting innovation
In addition to preparing students for the workforce, STEM institutions can foster entrepreneurship and innovation. By encouraging students to think creatively and pursue their ideas, these institutions contribute to the development of an innovative culture that supports economic growth and job creation. Offering courses or programs in entrepreneurship or innovation equips students with the knowledge and tools needed to turn their ideas into reality.
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Establishing a framework for ongoing communication
It is crucial for employers and educational institutions to engage in ongoing communication to establish a structured process of consultation, action, and reflection. Moving away from a hands-off approach, greater collaboration between industry and academia can identify more effective strategies. A more sustainable approach is required to change the dynamics of the business-university relationship beyond a simple client-server arrangement.
Also read: How to choose a college major with loan debt in mind?
STEM higher education institutions play a crucial role in closing the skills gap by providing students with the knowledge and skills needed to meet industry demands. By collaborating with industry partners, offering experiential learning opportunities, promoting diversity and inclusion, and fostering innovation, these institutions can develop a competent and diverse workforce that drives innovation and economic growth. It is essential for STEM institutions to adapt their programs to match the evolving demands of the industry and ensure that students are well-prepared for the future job market as technological advancements accelerate.