JPMorgan Chase CEO Jamie Dimon has sparked a conversation about the failings of the American school-to-job pipeline. Businesses, he argues, are left to train employees for positions schools haven't prepared them for. This disconnect creates a skills gap, hindering both companies and job seekers.
Dimon proposes a shift in focus: education institutions should prioritise equipping students with the skills required for in-demand jobs to combat the skills shortage.
However, having worked in academia, there is often a lot of red tape that staff and faculty must overcome to make significant curriculum changes. It can take a long time – up to 2 years to get a new course signed off.
So, how can we practically address this now? Having worked in both the academic and corporate worlds, I have witnessed the significant impact of the 'Hire Train Deploy' model on both job seekers and businesses.
At a high level, it takes graduates straight from university, trains them in a businesses’ specific tech or business needs (as well as professional skills which grads often need help with) and places them on site with clients where they can hit the ground running from day 1.
> How HTD bridges the skills gap in the workplace
Industry-Specific Skills:
Companies collaborate with an HTD provider, like mthree, to identify the specific skill sets required for their open positions. Many HTD providers employ highly skilled in-house trainers, often industry veterans with years of experience.
Targeted Training:
Trainers design and deliver targeted training programs that equip candidates (referred to as "Alumni" at mthree) with the exact skills needed for the job.
This eliminates the need for companies to spend time and resources on basic skills training, allowing them to focus on integrating new hires quickly.
Seamless Integration:
Once training has been completed, Alumni join the company onsite, often adding more value to their team than a directly hired graduate. They've received focused training specific to the company's needs and are ready to contribute immediately.
Continuous Learning and Development:
Another significant benefit of the HTD model is that Alumni can refine their skills throughout their placement through constant education and training. With the aid of their experienced trainer, who remains involved throughout the process, they can adapt and excel in their new roles.
> The impact of solving the skills gap crisis
At mthree, we are always rooting for our Alumni to succeed. Christina Joseph joined mthree's Academy in late 2022. Without a formal background in tech, she was ecstatic when she found out about mthree's Women in Tech initiative to create more gender diversity in tech. After completing our robust training program, she was placed onsite with a Fortune 500 company in the healthcare space as a Java developer.
She recently converted to become a full-time employee and is slowly rising through the ranks as a software developer. She credits mthree for helping her get her career in technology started and opening doors that might have been more challenging to open on her own.
A driven individual, she sought additional training through mthree's Academy during her contract and has her eyes set on completing two certifications in the coming months. This is the kind of empowerment the HTD model provides job seekers, inspiring them to take charge of their careers.
The HTD model offers a compelling way to bypass the traditional, sluggish curriculum overhaul process. It fosters employer collaboration, ultimately creating a win-win for businesses and job seekers navigating a complex job market.
This approach will only solve some of the issues with the school-to-job pipeline. Still, it's a solution for companies to consider until academia can catch up to the ever-changing landscape of technology.
By focusing on equipping job seekers with relevant skills through innovative models like HTD, we can bridge the skills gap and ensure a smoother transition from education to employment. As Dimon rightly points out, the time to act is now. Let's build a more robust pipeline that benefits businesses and the future workforce with HTD.
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