Minister for Education and Training, Simon Birmingham, needs to “boost the employment prospects of graduates” and offer “better value for taxpayers”. There are challenges to doing so.
Accelerating digital change is a serious problem. The McKinsey Global Institute estimates half of present work actions might be automated utilizing present know-how. The OECD says jobs will improve, however staff will want totally different expertise.
Universities can replace and alter their curriculum. But if Australian business is just not maintaining with know-how, graduates might be ready for jobs of the longer term not jobs on supply. Sadly, that is turning into a actuality. Productivity Commission data shows Australian business productiveness and know-how adoption is slowing.
There is a coaching hole
Many present business leaders graduated understanding one self-discipline properly with some expertise to use their information. They sometimes labored for a business that gave on-the-job coaching. Over time, they took an extra qualification to broaden their expertise for administration roles. The MBA, for instance, has developed for that function.
Today, it’s totally different. Small and medium sized companies (SMEs) have neither the time nor price range to practice graduates. They face value and worth competitors and need to rent skilled staff. Australian Bureau of Statistics (ABS) 2016 data confirmed 99.5% of business employers are SMEs with beneath 200 staff.
At the opposite finish, massive companies rent fewer recent graduates. For instance, the place giant numbers of accounting or regulation graduates used to construct on their expertise and achieve expertise via getting ready accounts or contracts, most of that is now automated and employers need graduates to have that have already.
What does this imply for universities?
Discipline information, corresponding to engineering or media is essential. But graduates additionally want expertise collaborating in multi-disciplinary, cross-cultural groups to clear up complicated issues, utilizing vital quantities of data and knowledge. Communication and know-how expertise are important.
Graduates want a transparent concept of their profession objective. They want psychological and sensible instruments for fast-changing careers within the gig financial system, the place full-time, long-term employment is rare. They want instruments and apply to create and run the small companies that drive Australian financial progress.
To obtain this, universities want to use their deep information of analysis to reinvent each the curriculum and the best way they ship it.
International labour market data and evaluation of the a whole lot of hundreds of thousands of jobs and expertise marketed globally is now available. It provides clear indications of developments in expertise and job necessities. Add to this the information gained from universities’ collaboration with employers and analysis companions, they usually have an unrivalled understanding of the place know-how in every self-discipline is shifting.
Bond’s law programs use the experience of the authorized career, akin to drafting contracts, mediating disputes or representing shoppers to embed lawyering expertise and practise from the primary semester.
Curtin’s inter-professional health programs combine World Health Organisation suggestions to practice its college students and industry collectively to create the collaborative well being workforce to meet native community-based well being wants.
One problem is how we scale, bridge the expertise hole, and assist SMEs to use graduates to construct business productiveness and competitiveness.
First, we’d like to improve genuine skilled experiences embedded within the curriculum, and replicate and simulate office challenges. Health has all the time accomplished this properly by integrating problem-based studying in hospitals with affected person instances into the curriculum.
Now in most programs, first yr experiences construct via to capstone tasks. Work built-in studying and internships are increasing.
But each scholar won’t get a piece placement, and typically placements do little to put together college students for work. Employers want to make investments time and coaching to make it worthwhile for each the scholar and the employer.
Instead, universities have to simulate workplaces on the college collectively with industry companions. Universities can then work with SMEs on tailored tasks that additionally assist the SME.
Universities can’t construct superior manufacturing amenities for college kids to practice in from day one. So corporations like Siemens and Samsung help universities with the newest applied sciences.
Are we there but?
Definitely not. But universities typically lead business in graduate preparation by embedding work expertise into the curriculum.
The key’s to guarantee continued collaboration between employers and universities and to concentrate to the altering wants of companies. Employers can then benefit from graduates who’ve the talents and capabilities to drive their productiveness and future success.