The growing gap between formal education and job preparedness
October 10th, 2012 by Briana Cummings
As a society, we must figure out how to rapidly re-skill a vast number of people on an ongoing basis to both remain relevant globally and to avoid long periods of high unemployment. ~ Harvard Business Review
There is a gap between what schools teach and what employers need their employees to know.
The highest-growing job sectors –among both white-collar (biochemists, market research analysts) and blue-collar (contractors, electricians) jobs — are those in which extensive preparation and up-to-date skill development is required. Low-skill jobs (postal mail carriers, switchboard operators) are becoming more and more scarce.
A study by the Harvard Business Review and Deloitts’s Shift Index found that America is in a “cycle of obsolescence”: what students learn in college is obsolete within a few years.
The result is that college graduates can’t find jobs — more than half of those who have received a college degree since 2006 cannot find full-time jobs, according to a recent Rutgers university report — and employers can’t find human capital. An Economist Intelligence Unit survey of executives from multinational companies found that a majority of respondents feared that talent shortages would soon begin to affect their bottom line.