And while a big part of the skills gap is a shortage of people skilled in the STEM (science, technology, education, and math) industries, there also is a gap in soft skills such as communication and advanced leadership skills. Experts predict that predicts if the structure doesn’t change, there will be 14 million to 25 million vacant jobs by 2020 that we won’t be able to fill. “You can have all the latest technology you want, but if you don’t have the talent behind it, your business is not sustainable. Baby Boomers are retiring in unprecedented numbers and there may be “infrastructure” issues contributing to the mismatch causes skill gap. Recent report on skill gap mention following facts:
India’s universities and other higher education institutions continue to be plagued by high faculty shortages. According to the recent report among the older IITs, Bombay had a vacancy of 38.66%; Kharagpur of 42.42%; Roorkee of 41.88%; Delhi of 33.11%; Guwahati of 26.50;% and IIT-BHU of 53.39%. The numbers at the new IITs, either: 56.67 % at Jodhpur; 21.11% at Patna; 14.44% at Indore; 20% at Hyderabad; and 10.18% at Gandhinagar. More than 60 percent of colleges having the shortage of suitably-qualified faculty for both research- and teaching-focused positions.
To overcome this significant increase in the number of students in post-graduate programs, including PhDs, perhaps through more generous incentives than are offered now. Over 40 percent colleges are experiencing an infrastructural breakdown due to extreme financial difficulties. Over 20 percent universities are dedicated profit-seekers, hiring less qualified or even unqualified people in part time positions rather than hire qualified regular faculty. Over 15 percentage of institutions are actively looking for faculty, are willing and able to hire them – but the available faculty choose not to work at those institutions because of their location, poor reputation.