Foreign university graduates are more employable than their Indian counterparts and need lesser extensive training, according to the India Employability Survey 2014 conducted by the British Council. As against 39% graduates with foreign degrees, 14% graduates from Indian universities are job-ready feel employers, as per the survey.
The study seeks to find out the quality of talent expected by the Indian industry during the the next three to five years and assesses prevailing employability of workforce emerging from overseas universities. The research throws light on the hiring trends, factors to hire foreign university graduates, preferred source countries, qualifications as well as disciplines of study.
The survey has made an analysis of the employability quotient of graduates of Indian and foreign universities, thereby revealing the requirements or expectations of Indian employers. The survey covered 200 foreign and Indian firms. It studied the preference of the employers on the basis of several parameters including skill-set, availability as well as quality of talent pool, etc.
As per the survey report, 51% of the firms employ only from the 20 leading Indian institutes. Moreover, 60% of the firms which employ foreign graduates do so from the 50 top universities globally.
The survey further states that firms from the consumer goods (60%), services (52.2%) as well as infrastructure, telecom and energy (50%) sectors have hired minimum one foreign university graduate.
As per the British Council survey, the most preferred employees by recruiters among foreign university graduates are the ones from American universities (41.6%). Next in line are the graduates from United Kingdom (UK) varsities (25.8%), followed by the ones from German universities (6.9%).
The survey reports also throw light on the importance of internship programs as a hiring criterion of a majority of the companies. While two-thirds of the companies already have internship programs, 57% of those who do not have internship programs at present plan to have such schemes shortly. The top wanted skill is subject-knowledge, which is followed by communication skills, practical application skills and critical thinking skills. Other major requirements are inter-personal skills, the ability to work within diverse groups, leadership experience, capability to work hard, etc.
Graduates with foreign degrees were found to possess strong technical skills such as critical thinking, application, etc. Graduates with Indian degrees possess sound soft skills, such as, inter-personal skills, ability to work with diverse groups, etc. Graduates from India were also found to be strong in the ability/willingness to work hard area. Graduates from the United States (US) lead a majority of the skill-sets. Those from UK are second in communication and inter-personal skills. Germany features with UK in most other areas, the survey reports add.
According to officials of British Council India, in an increasingly competitive global business environment employers are looking to attract talented personnel with international education. Recruiting graduates of overseas institutes is a part of the talent strategy of multiple companies.