The Importance Of Workforce Development

“Although our top universities continue to rank among the best in the world, too few American students are pursuing degrees in science and technology. Compounding this problem is our failure to provide sufficient training for those already in the workforce” says Bill Gates, which essentially shows the importance of adequate training and skilled development that has to be cultivated among undergraduates. Undoubtedly, the Microsoft CEO has vast amount of experience in industry and academics and his argument about workforce development is pivotal if we consider the situation in Pakistan especially during the previous couple of decades. However, it is argued that only workforce oriented graduates might end up lacking professional ethics. The world

We need to understand the demographics of our economic cycle and relate it to job market. In Pakistan, the common attitude towards studies is quantitative rather than qualitative. Quantity of degrees earned is considered more important than quality. Practical exposure and conceptual training is almost diminished that puts the students at disadvantage when they enter job market. Ben Bernanke has related success of country’s economy with the workforce that “No economy can succeed without a high quality workforce, particularly in an age of globalization and technical changes”. It is the need of 21 century that everyone should play their part in country’s economy by serving with their skills and expertise. We can take an example of China’s economy, it has grown by 7% which is a very high rate of growth as compared to other nations(“China GDP and Economic Data”).It has become possible because their universities and colleges have put emphasis on practical studies and developing skills. Their workforce is high and strong and ultimately each and every individual has contributed in the success of their economy. Colleges and universities should guide students regarding their interested fields and to make them learn necessary skills which could help them in workplace. If the workforce is productive then they could provide services required for the human resource departments such as hospitals, education Sector etc. This would lead them to play their part in country’s economy. It would definitely help country to make transition from the developing state to the developed state. If the effective and productive workforce is prepared then it makes bureaucracy more effective at dealing with local issues and the element of corruption would be eliminated through proper educational training. There would be political and national awareness about the leadership of state as well. So, shortly all these factors would help in the betterment of the country’s overall financial