Education-employment skills mismatch in aligning business education with banking sector's needs in Bangladesh

Education mismatch is a common problem in both developed and developing countries. It wields a great impact on both individual and organisational productivity, and hinders national growth. For this reason many countries are making efforts to reduce mismatch, and Bangladesh is also facing the same challenge. Consequently, this study has been conducted to examine the alignment between business education in universities and requirements of the banking sector in Bangladesh. The study employed an explanatory sequential mixed method approach to address the predetermined research questions and objectives. Purposive sampling technique served to collect secondary data on the academic backgrounds and job performance of 1437 employees from the selected banks; 27 respondents were interviewed covering both banking and university sector. The study findings revealed that the banking industry has a significant level of mismatch. Working in the banking industry is a specialised job for business graduates, but in Bangladesh most of the positions are dominated by science graduates. Although they are not trained for this sector, the findings indicate that science graduates perform better than business graduates in the job. The study also discovered that business education has become obsolete in producing graduates ready for the contemporary job market. Furthermore, the study revealed that a lack of collaboration between academic institutions, industry, and other stakeholders is one of the reasons for the ineffectiveness of business higher education. The study provides a comprehensive framework that proffers solution and makes business higher education better aligned with contemporary and future labour demands. Likewise, the study, offers some recommendations, implications for policy-makers, higher education and stakeholders and also provides suggestions for further studies on this topic.

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