Employability and Entrepreneurship - Assignment Example

Employability and Entrepreneurship . It is well d by modern philosophers "Literacy rate and employment opportunities are inter dependent". This is evident from the facts and surveys carried on an annual basis which represents the percentages of the number of students graduating every single year. On the other hand, with an increase in the globalization factor we are witnessing a large number of employment opportunities available to students. It is a student who needs to identify which job is competent for one self and also he/she is the one who is liable for their career development. Career development is a personal, iterative and reiterative process. Though it is often presented as a linear sequence, it is cumulative, but learning continues as one discovers new areas to explore or as one is required to adapt to changes in the world of work. One of the most important transitions of adult life occurs in the form of taking a new job in a new setting. This phase begins when a student start discovering the existence of work, jobs, various careers as well as college and other post secondary education options and participating in community and leisure activities. The foremost activity required by a student at such a moment is developing a career plan. Career planning from the individual's perspective is important for a number of reasons. It provides and allows the individual to maintain self-determination and control over his or head intended work life and related experiences. It contributes to better occupation-job-organization-industry work life decisions that may greatly enhance job mobility and progression through successive career stages. Additionally, career planning can ease the individual through various life stages and facilitate development of meaningful non-work roles, including church leadership and civic and community volunteer efforts that complement job-career roles. Activation of the career plan entails job search, self-development, job performance, promotion and mentoring behaviors (Hunt & Michael, 1983). To initiate and perform the career planning process, a number of formats are available to an individual. These are (1) self-help, (2) consultant/counselor assistance (3) employer-sponsored help, and (4) courses offered by organizations and professional associations. Any one or more combination of two or more of these formats can yield a reasonably comprehensive career plan. The formats vary, however, in terms of depth and detail of analysis, formality, cost, and career plan specificity. A step-by - step approach would prove to be effective in landing up on the most appropriate decisions on opting for a specific career. Methodology The expansion of particular sectors of the economy, like demographic trends, is only part of what contributes to greater employment opportunities for graduates. Some jobs and careers require a specific degree subject, especially in the fields of science, technology and engineering. However around 60% of advertised graduate vacancies are open to all degree disciplines which means that one have a broad range of career options open to oneself. For instance, When making career choices, the number of possibilities opens to English graduates, like other non-vocational graduates, is immense. Most 'top' employers in the UK make most of their jobs open to graduates irrespective of the subject of their degrees. For English graduates then, their subject of study can therefore be regarded as less important than other factors such as intellect, attitudes, social fit and prestige of their university. Awareness of Employment Opportunities in Accountancy: During the last half-century, accounting has gained the same professional status as the medical and legal professions. Today, the accountants in many countries number well over a million. In addition, several million people hold accounting related positions. Typically, accountants provide services in various branches of accounting. These include public accounting, management (industrial) accounting, governmental or other not-for- profit accounting, and higher education. The demand for accountants will likely increase dramatically in the future. The increase is greater than for any other profession. Information gathering/Where to look for information The job search can be describes as a logical sequence of activities. According to Solberg (1967), a job search consists of two phases - planning job search and then job search and choice. Job search begins with an extensive search to gather information and identify job opportunities flowed by a more intensive search that involves the acquisition of specific information about jobs and organizations. Similarly, Blau (1993) distinguished preparatory from active job search behavior. Preparatory job search behavior is an information gathering stage in which job seekers find out about job opportunities through different sources of information. Active job search behavior involves actually applying for positions. It is highly essential to limit the scope of the research. The below mentioned activities would depict a clear and a broader version of the employment opportunities available in the market. Career information sources: these cover job availability and training requirements and qualifications needed for different specialties, competition ratios and personal perspectives of post as well as career pathways. Career conferences: events designed to build confidence, by involving students in workshops (CV, interview, management skills) and debates. Career forums: provided as a rolling programme of events covering the main profiles. A career forum is a source of career information and a resource which encourages exploration of different career options. Online guidance and career discussions: There are few sites where a range of adequately prepared individuals can be contacted to provide information and discuss career topics of interest nationally. Career handbooks: these cover different career aspects Peer group activities Specialist career planning tools or programmes. Information analysis/What employers are looking for In today's world, employers have a lot of talent to choose from. Recent data shows that many young workers today will make at least five job changes in their productive years, so employers want to get the most out of their investment in training and development. Most employers prefer graduating students that can bring as many of the following on the table. This could be well referred to as: Graduate Employment Resource Checklist: A post secondary degree or diploma Relevant work experience Time management skills Negotiating skills People management, teamwork and leadership skills Strong verbal and written communication skills The initiative to set and achieve goals as well as complete tasks. Besides the above mentioned basic factors, the five major areas for which an employer looks in fresh graduates is (1) self awareness, (2) vocational selection, (3) job seeking skills, (4) job-search skills and (5) job maintenance skills. Self awareness is characterized by an understanding of one's interests, abilities, values and liabilities. Vocational selection involves a person's ability to match the available jobs in the labor market to that individual's career goals. Job-seeking skills include such steps as identifying job openings, producing accurate operations and resumes, and interviewing. Job-search skills are the application of job-seeking skills - keeping actual records on paper or tape of the plans of whom to see, where to go, when to meet, what to discuss, and how to follow up on job leads. Finally, the job maintenance skills are concerned with job retention and advancement in a person's chosen field. In any job search, the reality is that the candidates with the highest levels of skills that are relevant and are in demand today are the ones who will get jobs most quickly through network sources or through online application to the job-posting services listing. Awareness of Skills and Knowledge: As mentioned above a student with the highest levels of skills are considered. However, it is highly essential for the student to blend his/her skills with their degrees or diplomas. Few of the essential skills include: Technical/functional competence - skills in a technical or functional area which provides a sense of identity. general managerial competence- desire to seek responsibility and accountability for total results autonomy/independence - the opportunity to define ones own work and remain in work that allows flexibility security/stability - a concern for security, including financial, and seeking achievement to allow to allow relaxation. entrepreneurial creativity - the desire to create organization by taking risks and using one's own abilities service/dedication to a cause - pursuing work that achieves something of value, such as making the world a better place and dong something for others. Methods for acquiring self knowledge: Many of the new ways of teaching and learning offer processes by which students can gain experiences that enhance their self-knowledge. One of these is problem-based learning, an instructional model based on constructivism, the concept that learners construct their own understanding by relating concrete experience to existing knowledge; processes of collaboration and reflection are involved. In problem-based learning, students are presented with an ill-structured problem--one that has no obvious solution and for which problem-solvers cannot be certain they have the right answer. The problem must be content relevant and represent a real situation faced by an individual, group, company, or community. Solving the problem takes students through the following processes (Savoie and Hughes 1994): --Engagement. Problem-based learning requires students to self-direct their search for a solution, often by assuming the role of a key actor in the problem situation, e.g., a lawyer, an environmentalist, a statistician, and so forth. --Inquiry. Students brainstorm with others and gather information from multiple sources. --Solution Building. Students work in teams discussing alternatives and examining possible solutions. --Debriefing and Reflection. Students share information, opinions, and ideas with others based on what they have learned through experience --Presentation of Findings. Students write plans, reports, and other forms of work documentation to include in their portfolios of accomplishments and achievements. Since students are the real problem solvers, their experiences in the process broaden their understanding, not only of the complexities of the problem, but of the effect a given solution might have on various stakeholders. Through such experiences, students learn to assess their own stances on the issues in question, their specific interests in the issues, their abilities in relation to the tasks of problem solving, and the appeal of various jobs dedicated to those issues. In a society where change is constant and teamwork is a way of life at work, the lessons learned through involvement in problem-based learning are essential for students' career development Role of Self-Awareness: Self-awareness is indicated by a thorough knowledge of one's interests (what an individual likes to do), abilities (what an individual can do), values (what an individual believes to be right or wrong), and limitations (what an individual cannot do). People who demonstrate high levels of self awareness understands how others see them and use feedback from other's observation of them to analyze the effect of their behavior on others and themselves. In other words, they relate well to other people. People who are self-aware typically are able to set personality goals and achievement goals. This means that people who are knowledgeable about themselves understand how to change that behavior with which they are dissatisfied through goal setting (Carkhuff, 1969). There are a number of ways which can boost an individual's ability to self awareness. Performing few of these activities will make an individual aware of oneself. Value clarifications exercise: This would help an individual understand what is important for them. This includes making an individual list out five accomplishments from birth to the present, and five aspirations from the present to death. This activity encourages values clarification. Interests Checklists and Tests: Many of the commercially available interests tests, such as the Self-Directed search and Strong Interest Inventory can be taken up by individuals to identify there area of interests. Aptitude Testing: Different ways to identify aptitudes include (1) informal job tryouts, (2) client self evaluations (3) observations on previous job sites and in classroom setting, and (4) reviews of transcripts and work histories. Conclusion: For every graduate student who plans to pursue a career, it is essential to adopt a step by step approach to ones career development. It is highly essential to possess the knowledge of available opportunities and also an individual must be aware of one's ability and capability to perform a specific job. References: Alan Kirschenbaum, Jacob Weisberg. (2002) Employee's turnover intentions and job destination choices. Journal of Organizational Behavior23:1, 109 Anderson, K. J. (1995).The Use of a Structured Career Development Group to Increase Career Identity. Journal of Career Development 21:4, 279 - 291. Frank Linnehan, Gary Blau. (2003) Testing the Impact of Job Search and Recruitment Source on New Hire Turnover in a Maquiladora. Applied Psychology52:2, 253-271 Hunt, David & Michael, Carol (1983): The Academy of Management Review, Vol. 8, No. 3, pp. 475-485 Lester, J. S., and Perry, N. S. Assessing Career Development With Portfolios. Eric Digest. Greensboro, NC: ERIC Clearinghouse on Counseling and Student Services, Rita Mano-Negrin, Shay S. Tzafrir. (2004) Job search modes and turnover. Career Development International9:5, 442 Savoie, J. M., and Hughes, A. S. (1994). Problem-based Learning as Classroom Solution. Educational Leadership52:3, 54-57 Wendy R. Boswell, John W. Boudreau, Benjamin B. Dunford. (2004) The Outcomes and Correlates of Job Search Objectives: Searching to Leave or Searching for Leverage. Journal of Applied Psychology89:6, 1083 Read More