Companies, universities must collaborate on skills gap: study

Moreover, only half of young people believed that paying for higher education would improve their chances of finding a job.

McKinsey said countries needed to review their education systems to see if employers in a particular industry seeking certain skills could work more closely with educators.

It said limited financial or staff resources, lack of hands-on training opportunities and employers' reluctance to fund training unless it is very specialised could all be barriers to better cooperation.

But these could be addressed by better use of the Internet for practice situations and to ensure consistency at a low cost and by introducing an improved standard curriculum that would be complemented by top-up training with employers.

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