Employability Measurement Program

completed

There is an incontestable link between learning outcomes and economic growth. From pre-school to university to technical and vocational programs, education matters for human development and future employment. Rapid changes in technology have shifted the focus of a well-educated worker, in the 21st century, from the qualifications needed for doing a ‘lifetime’ job to the skills needed to do specific tasks in jobs that are constantly changing. This is especially relevant for the billion young women and men entering the workforce over the next decade. There are currently 1.8 billion young people ages 15-29 in the world which is about 16% of the global population, making this the largest youth generation in history. The imbalance between education and training young people are receiving and the jobs available have a disproportionately significant impact on today’s youth employment crisis. In much of the world, the education system is failing to equip the future generation of workers with the knowledge and skills they need to be productive members of society. Systemic and fundamental changes in education and training, along with a renewed skills agenda with innovative approaches to supporting employability, are needed to successfully address the youth employment challenge. IFC is the largest multilateral investor in private education in emerging markets and has invested nearly US$2 billion in this sector globally since 2000. IFC has now developed an advisory offer to complement its investment activity in education. IFC’s Employability Tool is an innovative appraisal instrument which assesses tertiary education providers, including vocational training institutions, on delivery of employability outcomes in a systematic manner. The assessment provides a 360 degree view of an institution’s approach to student employability, including employability strategy and governance, the relevance of teaching and learning to labor market developments, approaches to career services and alumni management, as well as incorporation of employer engagement and information technology. The Objective of the Employability Measurement Project is to improve the processes and operations in Higher Education Institutions (HEIs) (TVET, colleges, and universities) and thus provide improved employability services to students. The Project aims to improve the employability outcomes of tertiary level education institutions through data driven assessments, and improvements rooted in institutional capacity building by reorienting processes, operations, and systems to incorporate employability into instruction and services.