Only 16% Of Corporates Believe Graduates Are Industry-Ready, Says Report

Even as 70% of academic institutions believe their graduates are well-equipped for the corporate world, only 16% of companies believe in the same, which showcases an existing gap between university curricula and industry expectations, a report said on Wednesday.

"This disparity highlights a persistent challenge in aligning academic curricula with industry expectations," stated artificial intelligence-powered recruitment automation firm HirePro's report 'Momentum 2024: The New Reality in College Hiring'.

The 'Momentum 2024: The New Reality in College Hiring' report is based on inputs from over 20,000 candidates, over 350 colleges, and over 200 corporates, along with interviews with over 100 campus talent recruiters.

The report also revealed a shift in how students view their academic performance in relation to job prospects.

Around 71% of students interviewed believe that Cumulative Grade Point Average alone is insufficient for evaluating their capabilities during placements and that prioritising technical skills is required, it stated.

This sentiment contrasts sharply with the practices of academia and corporates, who continue to rely heavily on academic performance as primary criteria for shortlisting candidates, it added.

Further, the report found that a majority of students still view internships as an opportunity to learn the real-world nuances of what they study in classrooms, with 68 per cent willing to relocate for quality opportunities.

While 70% of students prefer in-person experiences if given an option, corporates strictly oppose remote and off-college hours internships, it added.

The report also revealed mixed reactions to the National Education Policy 2020 initiative allowing year-long breaks from studies.

While 59% of students strongly support this idea, only 30% of academia and a mere 16% of corporates are in favour, highlighting the need for better alignment between policy, education, and industry needs, it stated.

"Our findings highlight the need for greater collaboration and understanding between corporates, academia, and students. Cautious optimism is the overarching sentiment because we are no longer operating in a homogeneous market. Industries are changing, economies are dynamic, students' profiles are evolving, and so are the requirements. It's crucial for all stakeholders to adapt their approaches and fill in the expectation gaps," HirePro Chief Operating Officer S Pasupathi added.