To build a premier educational institution, you may have hired the best faculty, built state-of-the-art facilities, and admitted the brightest of students in the country. However, you’re not worth your salt if your students fail to find a well-paying job with a reputable organization. Continued unemployment of fresh graduates from any university is bound to bring down the ranking of the institution and ruin its legacy. While an educational institution may possibly have done everything in its capacity, it may still fail to make its students employable. The reason? Competition. Remember, everybody is doing what you’re doing; some even more. So, when the playing field is level, the game needs a differentiator. For education, today, that differentiator is job market intelligence.
What constitutes job market intelligence?
Job market intelligence is a broad term that encapsulates several important metrics that signify the market-wide hiring trends for every industry. Listed below are some of the key metrics that shape job market intelligence:
- High demand courses: Courses that are in high demand by employers and recruiters. Identifying these courses lets educators know which courses should be offered to students over others.
- Geographic demand of skills: Tells you which U.S cities have hired the most the maximum candidates for a given skill. Educators can fill the skill gap with the knowledge of this metric.
- Average time to find a job: The average time it takes to fill a position. Helps educators assess how easy or difficult it will be for their students to find a job that requires a given skill set.
- Average salary: This gives educators an insight into the relatively well paying jobs, and the associated skill sets.
- Associated job titles: This metric helps analyze the skills sets expected from candidates applying for a particular job title. Educators can help students plan their careers ‘smartly’ using this job market insight.
Why should you care about job market intelligence?
Educational institutions can largely benefit from leveraging job market intelligence to create a market-ready curriculum. In fact, you can’t even imagine what a tool providing detailed job market insights can do for any varsity. Such a tool can enable the faculty to train students in the very skills that employers seek the most. This will ensure that a large number of students get placed in the topmost companies, in the least possible time. Besides, students would prefer joining such an institution that has a glorious on-campus placement record. Furthermore, employers are more likely to trust an institution that pays heed to job market insights. Employers can, thereby, offer long-term and strategic partnerships for holding mass recruitments in a college. This will create a self-sustaining cycle that will ensure that an institution not only survives but thrives in a competitive job landscape. This is a win-win-win situation for all parties involved – colleges get students, students get jobs, and employers find the right talent!
Analytics platforms like Talismatic have forayed into job market intelligence for educators. This has left educators smacking their lips at the prospect of leading the race to produce graduates that are in heavy demand in the job market. Educators must utilize the potential of such a powerful platform to get an early advantage.