India faces an alarming paradox: millions of students graduate from its higher education institutions each year, but only a fraction of them secure employment that aligns with their academic training. The problem is multifaceted, involving outdated educational structures, insufficient industry exposure, and a mismatch between academic output and the evolving demands of the job market. With more than 8-9 million students graduating annually, around 7.4 to 8.5 million of them remain either unemployed or underemployed in jobs unrelated to their degrees, creating a massive waste of potential.[1] However, there is a solution that can help bridge this gap — the untapped potential of retired professionals, whose wealth of experience and industry insights could prove invaluable in reshaping India’s workforce for the future.

The Problem: Mismatched Skills and Lost Potential

Each year, India produces a staggering number of graduates, but their employability remains a significant issue. According to the Periodic Labour Force Survey (PLFS), only 30-40% of recent graduates secure full-time or part-time jobs.[2] Even more concerning is that only a small fraction of those employed are working in jobs directly related to their field of study. For example, graduates from engineering and technology backgrounds often face high employment rates, but many find themselves in roles that don’t require their specialized education, further exacerbating the country’s skills mismatch problem.[3]

The core of the issue lies in the widening gap between what industries need and what academic institutions are producing. Several root causes contribute to this disconnect:

1. Outdated Curriculum and Teaching Methods: Many universities follow curricula that fail to keep pace with the rapid changes in technology and industry demands. While theoretical knowledge remains important, there is insufficient emphasis on practical, hands-on skills or real-world problem solving. This limits graduates’ ability to apply their knowledge effectively in dynamic, client-facing roles that require communication, adaptability, and leadership.
2. Focus on Quantity, Not Quality: Educational institutions often prioritize the number of students they can enrol and the number of degrees they can award, rather than focusing on preparing students for the workforce. Large class sizes and under-resourced faculties mean that professors are overburdened and unable to give individualized attention to students. This further limits opportunities for practical skill development.
3. Lack of Industry Exposure: Most academic programs fail to provide students with direct exposure to the industries they aim to join. Internships and live projects, which are critical to bridging the theory-practice divide, are often superficial or non-existent. As a result, graduates lack the practical experience necessary to thrive in the job market.
4. Inadequate Career Counselling: Many universities do not offer sufficient career counselling or guidance on industry trends and expectations. Students often enter the job market without a clear understanding of the skills they need to succeed or the career paths that are available to them.

Existing Solutions and Their Shortcomings

To address the skills gap, both the government and private industry have launched numerous initiatives. Programs like PMKVY (Pradhan Mantri Kaushal Vikas Yojana) offer vocational training, while organizations like NASSCOM and FICCI have developed sector-specific programs to bridge the divide between education and employment. Moreover, the National Education Policy (NEP) 2020 has introduced the concept of “Professors of Practice” (PoP), inviting seasoned professionals into academic institutions to update curricula and bring industry expertise into classrooms.

However, many of these programs focus narrowly on technical skills, leaving critical soft skills such as communication, leadership, and teamwork largely overlooked. Moreover, these initiatives are often fragmented and fail to address the root cause of the skills gap — the outdated and disconnected nature of the academic system.

In addition, initiatives like the National Apprenticeship Promotion Scheme (NAPS) or corporate training programs do offer valuable experience, but they remain inaccessible to many students, especially those from smaller colleges or underprivileged backgrounds. The lack of structured mentorship and the reliance on external, disconnected interventions have resulted in a system that is inefficient and unevenly distributed.

The Way Forward: Tapping into the Silver Economy

One innovative solution to this problem lies in leveraging the skills and expertise of retired professionals. In India, the “silver economy” — a term used to describe the economic potential of retired individuals — remains largely untapped. Retired professionals bring decades of experience in their respective industries and possess the practical knowledge and insights that can help bridge the gap between academic institutions and the job market.

Inward Solutions: Enhancing Educational Institutions with Retired Professionals

1. Modify Professors of Practice (PoP) Criteria: One of the key initiatives in NEP 2020 is the appointment of Professors of Practice (PoPs) — industry veterans who bring real-world knowledge to academic settings. However, to make this program truly impactful, the criteria for PoPs should be expanded. For instance, raising the age limit for PoPs from 65 to 75 year and increasing the minimum work experience requirement from 15 to 30 years would allow more seasoned professionals to enter academia and share their vast expertise with students. Additionally, integrating PhD students to assist PoPs can foster collaboration between academia and industry.
2. Career Counselling and Well-being Support: Retired professionals can play a key role in career counselling, helping students navigate the job market, select appropriate career paths, and develop necessary skills. These counsellors can also address well-being issues, providing emotional support to students facing the pressures of academic life and the transition to the workforce.
3. Alumni Engagement and Networking: Retired professionals can also contribute to strengthening alumni networks, which are crucial for providing students with industry connections and job opportunities. By leveraging their networks, retired professionals can connect students with internships, apprenticeships, and full-time roles, offering invaluable industry exposure.
4. Industry-Academia Collaboration: Retired professionals can act as intermediaries between academia and industry, helping to align academic programs with industry needs. Serving on academic advisory boards, contributing to curriculum development, and fostering partnerships between educational institutions and corporations can ensure that graduates are better prepared for the workforce.

Outward Solutions: Industry Engagement with Retired Professionals

1. Phased Retirement Plans: Industries can implement phased retirement plans, allowing retiring employees to gradually transfer their knowledge and skills to younger workers. This process ensures a smoother knowledge transfer and provides opportunities for mentorship. Retired professionals can lead training programs, offer specialized certifications, and even create internship opportunities for fresh graduates.
2. Skill Development and Mentorship: Retired professionals can contribute to national skill development programs, such as PMKVY, and run vocational training centres in areas that are in high demand but often overlooked by traditional academic programs. These training programs, led by experienced mentors, can help bridge the gap in technical skills and prepare graduates for in-demand roles.
3. Policy Advocacy: Retired professionals can also play a role in advocating for policy changes that encourage greater alignment between academic curricula and the needs of the job market. Their experience can guide institutional reforms, ensuring that universities and colleges offer programs that are relevant and impactful.

Conclusion: Building a Cohesive, Holistic System

The need for systemic change in India’s higher education system is clear. While external initiatives can play a role, the core issue remains within the education system itself — outdated curricula, a lack of industry exposure, and insufficient career counselling. The solution lies in an integrated approach that taps into the untapped potential of retired professionals. These individuals can serve as mentors, advisors, and collaborators, helping to update academic programs, offer career guidance, and connect students with the job market.

By tapping into the silver economy, we can create a more cohesive, holistic system that better prepares graduates for the workforce, ensuring that they are not only equipped with the necessary technical skills but also the soft skills and real-world experience that employers demand. This approach will not only bridge the skills gap but also unlock the untapped potential of millions of graduates, contributing to India’s long-term economic growth and innovation.

References

1. All India Survey on Higher Education (AISHE). All India Survey on Higher Education Report 2021-22. Ministry of Education, Government of India, 2022, https://aishe.gov.in/.
2. Government of India. Periodic Labour Force Survey (PLFS) 2021-22. Ministry of Statistics and Programme Implementation, 2022, https://microdata.gov.in/nada43/index.php/catalog/PLFS/.
3. Aspiring Minds. BVB’s Sardar Patel College of Engineering: B.Tech/B.E. 2020 Placement Report. 2020, spce.ac.in/Documents/Placement/TEQIP/BVBs%20Sardar%20Patel%20College%20of%20Engineering,2020__B_Tech_B_E_2020.pdf.

[1] Based on most recent 5 years data from 2017 to 2022 (AISHE, 2022)

[2] Based on most recent 5 years data from 2017 to 2022 (PLFS, 2022)

[3] (Aspiring Minds, 2020)