This paper examines the role of higher education and higher education providers, more specifically, regarding employability. The paper draws upon a three-year research project examining the key stakeholders in this process; from parents, to students, to teachers, to institutions, to employers. The paper offers critical insight and analysis into the importance of perception, government action, institutional capability and context in the development of human capital. The paper raises vital questions about the value and role of education in preparing students for meaningful contributions to society and the workplace.