Industry practitioners believe that skill training programmes are of vital importance as this improves the quality of workforce and also helps industry output. Careers360 talks with Sanjiv Bajaj, Managing Director of Bajaj Capital on key issues related to skilling and training as part of industry-academia collaboration. He shares insights on skill demands in the industry and training requirements for the human capital. He also talks about Wealth Manager Programme launched by TimesPRO for Bajaj Capital and its course curriculum.
Careers360: Where is the gap between what industry demands and what academic institutions can offer?
Sanjiv Bajaj: Sadly, in our country intelligence is judged basis the mark sheets. The education system filters out the best minds but that is purely based on textual knowledge. They lack practical knowledge. This is where the gap between what industry demands and what academic institutions offer widens. Hence we firmly believe that, with vocational education qualification, students are more likely to start working sooner. Professional / Vocational Programs should be designed keeping in mind what skills are in demand and inculcating these skills in students to equip them for their future careers.
Careers360: What should educational institutions be doing in making their graduates job ready from Day 1 Hour 1?
Sanjiv Bajaj: I believe that textbook or classroom education can impart limited education. It restricts students from experiencing the challenges that their future job might hold. To ensure that the students are being ready from Day 1- Hour 1 they need exposure to practical skills and knowledge which will prepare them for their professional journey. Practical knowledge creates a positive environment and sets expectations of the fresh graduates.
Careers360: How industry and academia can join hands to make professional courses more effective and compatible to the industry needs?
Sanjiv Bajaj: The industry needs are dynamic and ever changing. A single trend is difficult to be predicted. For such a scenario, it is best for the both, corporates and vocational training institutes to join hands. This helps not only create employment opportunities but also ensures that the curriculum is designed as per the current industry requirement. Seeing these opportunities, we joined hands with TimesPro and are offering Wealth manager Program. This program not only allows the students to secure a job but ensures they are day 1 – hour 1 ready.
Careers360: What is the Wealth Manager Program launched by TimesPro for Bajaj Capital?
Sanjiv Bajaj: The program comes with an in-built MFP (Master Financial Planner) certification. The curriculum of the program is designed in a pragmatic manner, covers subjects ranging from Financial Planning, Financial Markets, Financial Mathematics and Financial Products. It also involves study of real time case studies and solutions, client management, role play, soft skills accompanied with sales and advisory skills. The students undergo a 2 months of class room training which is inclusive of 2 weeks of induction program by Bajaj Capital. The training is accompanied by 1 month of internship with Bajaj Capital. On successful completion of the program and due clearance from TimesPro, the students receive a joint certificate and final appointment letter.
Careers360: What role industry can play in improving the existing set-up of vocational training programmes in India?
Sanjiv Bajaj: Industry should connect with vocational training institutions and co-create / co-develop programs as per their needs.
Careers360: Government has already launched Skill India initiative. How do you see the initiative helping the quality of workforce in India?
Sanjiv Bajaj: Recognizing the role of job creation for the growth of the Indian Economy, the government has come up with various schemes for the skill enhancement of the youth. These initiatives have been launched with a specific target to increase the employability & in turn economic growth of the country. India is evolving at a rapid pace, both as a nation and as an economy. In the fiercely competitive global market, where population numbers are one of India’s biggest strengths, lack of right skill sets can’t be an impediment to the growth of our nation. The industry wants to hire people with certain skill sets and experience. In this light, the initiative by the government is a welcoming change.
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