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Every year, India produces close to 500,000 graduates from its engineering colleges however, the industry don't absorb all due to their inadequate skill sets. According to a Nasscom estimate, only 25% of the engineers graduating are employable.
The demands of software industry and the quality of education in universities don't tally at all. The majority of universities fail to adequately prepare students for the professional world. As a direct consequence, most IT companies are forced to increase the duration of training and consequently their annual expenditure.
V Balakrishnan, Chief Financial Officer of Infosys opines that the current curriculum in colleges needs to be altered for producing better students. He says, “The syllabus should be aligned to the needs of the industry. At Infosys, we having to train and retrain candidates, though we have a strict screening process during recruitment."
If we look at the Tata Consultancy Services (TCS), they increased the training period of their new joiners from three months to six months, last year. Infosys has been spending $175 million annually on training programmes. According to sources, the company may increase marginally this expenditure for the new training schedule. At present, Infosys spends $5,000 towards training of every employee it hires.
Wipro, India's third largest software firm, has an induction training of three months for fresh campus recruits. “We spend approximately 0.65% of our revenue and this percentage has remained constant over the years,” says Selvan D, senior vice-president, talent transformation.
Nasscom president Som Mittal says, “We would obviously need to equip our students with the relevant subject matter expertise and soft skills. However, certain basic knowledge is expected of the students. In our education system, neither the content nor the delivery is adequate. Education must be made relevant at the outset".
Every year, India produces close to 500,000 graduates from its engineering colleges however, the industry don't absorb all due to their inadequate skill sets. According to a Nasscom estimate, only 25% of the engineers graduating are employable.
The demands of software industry and the quality of education in universities don't tally at all. The majority of universities fail to adequately prepare students for the professional world. As a direct consequence, most IT companies are forced to increase the duration of training and consequently their annual expenditure.
V Balakrishnan, Chief Financial Officer of Infosys opines that the current curriculum in colleges needs to be altered for producing better students. He says, “The syllabus should be aligned to the needs of the industry. At Infosys, we having to train and retrain candidates, though we have a strict screening process during recruitment."
If we look at the Tata Consultancy Services (TCS), they increased the training period of their new joiners from three months to six months, last year. Infosys has been spending $175 million annually on training programmes. According to sources, the company may increase marginally this expenditure for the new training schedule. At present, Infosys spends $5,000 towards training of every employee it hires.
Wipro, India's third largest software firm, has an induction training of three months for fresh campus recruits. “We spend approximately 0.65% of our revenue and this percentage has remained constant over the years,” says Selvan D, senior vice-president, talent transformation.
Nasscom president Som Mittal says, “We would obviously need to equip our students with the relevant subject matter expertise and soft skills. However, certain basic knowledge is expected of the students. In our education system, neither the content nor the delivery is adequate. Education must be made relevant at the outset".
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