Bridging gaps in labour market dynamics

The growing skill gap in the job market has become critical. The country may have a young, vibrant population, but many businesses are having trouble finding workers with the necessary skills to fill vacant positions.
In a recent research, the Bangladesh Institute of Development Studies stated that about 40 per cent businesses are facing difficulty in finding qualified applicants, especially in fields like engineering, healthcare, and information technology. The mismatch between the skills held by job searchers and the available employment is posing serious problems for the economy and enterprises.
The traditional educational system, which frequently prioritises memorisation over critical thinking and practical application, is one of the leading causes of this skills gap. Because many graduates need to prepare for the demands of the labour market, there is a high unemployment rate among young people with education.
Vocational training programmes, which could help close this gap, are neither well publicised nor easily accessible, exacerbating the situation. Government efforts to improve technical education have yet to make many young people aware of this.
Different parties are urging the government, academic institutions, and the commercial sector to work together to address these issues. "We require a thorough plan to restructure our training and education initiatives," noted prominent IT industry proprietor Rafiq Ahmed. "It is essential that industry representatives participate in curriculum development to guarantee that students acquire the skills that employers require."
Some companies have begun to provide internships and on-the-job training programmes in response to the increasing need for qualified workers to provide young professionals with the needed experience. Experts, however, think that for these programmes to have a significant effect, they must be expanded.
Bangladesh wants to become a middle-income nation, and maintaining economic progress would require addressing the labour market dynamics. Education reforms and skill development programmes are considered significant debate topics during the following national budget talks to better match the labour force with market demands.
For the time being, this problem is urgent. There is an increasing demand for structural reform in education and training as firms compete to attract and retain competent workers.

Md Zarif Imtiaz
BBA Department
North South University
[email protected]