Education industry is predicted to grow $230 Billion by 2023 and now post pandemic it is expected to grow 12.5% higher due to digital transformation. Education is essentially an information industry and it is highly impacted by the evolving digital capabilities, technology, and market dynamics. Year 2021 has evolved as new wave digitally transformed industry and the demand for fresh graduates is expected to be 3x.
Out of the 1 million students of the 2020 batch of B.E/B.Tech and MBA students in India, around 800,000 are looking for placements this financial year. FirstNaukri.com, a campus hiring platform, said it had posted 34,000 fresher jobs in January-March 2020. Besides the demand in the job market, the expectation of the employer also has grown drastically. Unfortunately only less than 2.3% of the colleges are catering 48% of the tier1 and tier2 job market.
As the current trend is driven by the market dynamics, we need an enhanced system to benchmark the capabilities of the colleges inline with the employer and enterprise needs. Global Employment Framework ® Standards, which is an International Accreditation body helps colleges to achieve and match the expectation to be an institutions of employer choice.
Management Assessment and Certification Pte. Ltd., Singapore (MAC) is the fast emerging nodal agency setting up Global Employment Framework ® Standards which is an integral component of the Industry Transformation Maps and it is co-created with the support by Employers and HR professionals of various sectors for the global workforce. MAC focus at bringing the best practices among the educational institutions to become industry ready.
Over years MAC has developed a global eco-system which is one of the largest in Asia pacific having 26,000+ HR professionals with a clear objective to understand the trends and technology demands to develop right talents to match the demand and supply. Also MAC offers complete end-to-end funded International Accreditation program to school for industry readiness.
"GEF Accreditation formally announced to go live from January 01, 2021 in India."