What do companies do when they have smaller training budgets and are seeking fresh graduates, job-ready for the industry? In a fast pacing workforce, where employee attrition rates are constantly in the high, what a data-driven work system really requires is a ‘just in time job-ready’ module.
To cope with the challenges, NIIT, a global organisation in Talent and Skills development and management, has devised the Talent Pipeline as a Service (TPaaS) initiative. The initiative promises to train thousands of students and hone them to be ready for the job market, increasing reliability, improving productivity and meeting the immediate industry requirements.
“There is an uncertainty today at the markets, on the kind of skill that is required and the amount that it is required in,” said Sapnesh Lalla, CEO of NIIT Limited, when in Chennai. Lalla also believes that while educational institutions are doing enough to set the theoretical base-work for the students, they are unable to make students job-ready. “The dynamics of the industries are constantly changing, and while graduates have the know-how of the subjects, they do not possess the ability to implement and take up over-all responsibilities,” he said.
Additionally, Lalla also said that while earlier organisations spent a lot more on their employees and their training, their capacity to spend on training was lowering. “The attrition rates of employees as well is not adding or encouraging employers to spend the kind of capital that they earlier used to,” Lalla added.To bridge this gap between lack of work-ready freshers and skill-seeking employers who constantly are in need of reliable and long-term workforce, NIIT introduced the TPaaS module. The organisation which considers itself as a global leader in skills training has announced that it will train 20,000 youths in three years, from Tamil Nadu, Andhra Pradesh, Karnataka and Kerala for the IT and BFSI sectors.
On being asked whether they believe that they can actually create the kind of impact, Lalla said “We have piloted the module in two top-tier companies and have found, statistically, that the attrition rates have come down from 38% to 19%. Similarly, in terms of achieving the said numbers, in the past nine months of our piloting of TPaaS, we have already acquired eight new customer organisations - I do believe, at this rate, we can easily hit the numbers.”
NIIT is currently offering the TPaaS initiative in three models - a) The company pays for the training, b) Students pay for the training, c) Company takes up part-payment for the training. “At the end of the day, our goal is to be a reliable partner servicing specific talent needs at the time business needs specific talents,” Lalla said.
NIIT was set up in 1981 to help the then-nascent IT industry and today has its branches in over 40 nations. NIIT specialises in training using an array of comprehensive development programs.
To learn more about NIIT visit http://www.niit.com/india/training
