Bridging education and jobs

Most business CEOs claim that they cannot find good people and want the government to liberalise the importation of skilled and unskilled workers to support their operations. Workers, especially graduates, claim they cannot find jobs that align with their career aspirations.

Academics argue that higher education is primarily about promoting creativity and critical thinking, rather than preparing young people for the workplace. Some of them insist it is the responsibility of economic policymakers to create job opportunities for all graduates.

The education-employment gap keeps widening. As long as stakeholders in education and business continue to work in silos, the country will continue to fall behind amid worsening demographics and increasing dependence on imported labour.

The skills gaps are the leading cause of the weak link between education and employment. They manifest in critical ways.

Firstly, the immediate capability gaps: businesses failed to anticipate changes in their industry and now face existential challenges unless they can source skilled foreign workers at the lowest possible cost. Put simply, treating labour as a commodity, a trend that gained popularity in the 1990s, remains the default HR strategy of many organisations.

Emerging skills deficits are another reality that is troubling some organisations. Most organisations believe that skills gaps are unpredictable. The truth is much more complex. The velocity of technological advancements and changing market demands is exposing how unprepared some businesses are to adapt as the world of work is changing faster than our traditional ways of learning.

How many of our companies have studied the impact of AI on their business models and how best to adapt their HR policies to address it?

Our educational institutions believe that their mission is not so much to understand the needs of the modern workplace. They aim to ensure that, upon graduation, students possess a theoretical skills toolkit that facilitates their smoothest possible entry into the world of work. This is often just magic thinking. 

The business community expects educational institutions to supply them with potential employees who possess the skills and experience that match their specific requirements. Business leaders should instead collaborate with educational institutions to provide students with hands-on experience while they are studying. Unfortunately, when organisations focus primarily on short-term performance metrics, it becomes challenging to invest in long-term skills improvement.  

If the business community, educators and policymakers continue to work in silos, we will continue to waste valuable human and financial resources, depriving younger generations of the opportunity to achieve their career dreams

Unfortunately, some academics continue to resist educational reform by citing past failed attempts. This is not a return to the 1980s’ awkward and poorly executed educational strategies that forced students to work on often-meaningless job assignments while studying.

It is about business-led, practical student placements with clear skills-acquisition briefs, regular check-ins, and willing mentors and experienced team members who remember their own career challenges. Accountancy firms, banks and the public health sector are already doing this successfully. Providing students with hands-on experience in their field of study is undoubtedly the way forward.

The capabilities companies desperately need today often differ from the skills the workforce has mastered during its educational phase. Still, if the business community, educators and policymakers continue to work in silos, we will continue to waste valuable human and financial resources, depriving younger generations of the opportunity to achieve their career dreams.

Policymakers, educators and business leaders must resist their Cicero pro domo sua mindset and look beyond their own self-interest. We owe this radical, multifaceted reform to the future generations.

Education reforms, as well as business restructuring and labour market reforms, take a long time to produce results. There is no silver bullet that guarantees quick success. It takes years of hard work, tackling open and covert opposition to change, to reach the objective of bridging the gap between the lecture rooms and the workplace.

Rather than constantly playing catch-up, educational and business leaders, as well as economic policymakers, must begin building capabilities before they become critical needs. Skills gaps are not static targets. They are changing constantly and evolving as technology advances. Bridging the education-employment gap is not a one-time project; it requires ongoing effort and commitment. It is a constant element of national strategic management.

Business leaders must start asking some tough questions. Where are our critical skill gaps emerging? How effectively are we developing key capabilities? Where should we focus our learning investments? Which skills will drive our future success?

Change is never painless. While many societal leaders acknowledge that change is often inevitable and necessary, they would rather see others change than themselves.

As long as we continue to work in silos, we risk depriving younger generations of the careers they dream.