A methodology for assessing the outcomes of required employability skills among recent engineering graduates is crucial for any effective engineering degree program. In this context, this paper presents a methodology for developing an employability skills model to estimate these outcomes by measuring the gap between expected and achieved skill levels. The expected employability skills may evolve due to technological and economic advancements in a country and can be explained by one or a combination of several attributes. The proposed methodology integrates three main activities: data collection through questionnaire surveys, the development of an employability skills model to identify expected skills and relevant parameters, and the assessment of the outcome of the skills for recent graduates. The surveys measure employer expectations for key attributes in engineers and the corresponding achievements of undergraduates with industrial exposure and recent graduates. The employability skills model uses comprehensive data analysis methods, including factor analysis and the Multi-Attribute Value Technique (MAVT). A case study on recent civil engineering graduates was conducted to develop the employability skills model and determine the outcomes of these skills. The model identified eight key employability skills. Using this model, the achievements of individual graduates and the overall group were assessed, revealing a significant gap of around 40% in four skills and about 30% across overall skills. This paper discusses the validity, applicability, and related issues of the methodology. The proposed approach is applicable to any engineering degree program where regular evaluation and feedback-based improvements are necessary.