Governments must join hands with corporate sector to meet skill demands: Kris
Governments need to plan more effectively for future job requirements, says Infosys Co-Founder and Executive Co-Chairman Kris Gopalakrishnan.
He was interviewed for an Economist Intelligence Unit report, sponsored by SuccessFactors - Plugging the skills gap: shortages among plenty. The report was developed based on a global survey of 248 executives as well as a series of in-depth interviews with senior leaders from select companies.
Sharing his views on scarcity of skills in the IT and Technology industry, Kris outlines how Infosys is looking to address these skill gaps through an extensive internal training program.
He says "Countries like India are developing so fast, and the composition of many economies has changed markedly, that service industries like IT now comprise an ever-larger proportion of their GDP."
Kris adds, "To avoid substantial shortages in the long term, governments need to work with the corporate sector and academic institutions to create an education system to produce the workforces we need."
The report highlights how Infosys has set up a large Corporate University that can train 14,000 people a year to bridge the gap between university education and what the company needs. "Four percent of our revenue goes into education and training. Seventy percent of our recruitment is at the graduate level, and then we have to create the skilled workers we need," Kris explains.
Published with permission of The Economist Intelligence Unit