How Organizations Determine Their Activities in Recruiting Graduates - Essay Example

Individual Development Plan Name Course Name and Code Instructor’s Name Date Table of Contents Table of Contents 2 Introduction 3 Requirements of the global graduate employment workplace 4 Graduate skills and attributes 5 How organizations determine their activities in recruiting graduates 6 Professional bodies requirements 7 Current Performance and Personal Assessment 7 SMART Action Plan 7 Work –related Values 9 Among three most important factors 9 References 10 Introduction Modern organizations, institutions and industries are hard pressed to enhance their competitive advantage in order to effectively and efficiently meet the changing needs, expectations, tastes and preferences of modern customers who are now more informed, sophisticated and more demanding owing to easy access to information generated by advancement in technology and globalization. Chiswick (2011) notes that following the turbulent market environments coupled with shifting political, technological, financial, legal, social and economic forces, the effects have transcended to the job market industry. For this reason, modern organizations are identifying, attracting and retaining the best candidates or employees in the field as their core business strategies with the view of securing their strategic positions in the present and enhancing their future sustainability as noted by Hager & Holland (2006). This has necessitated both potential and existing employees to re-evaluate their positions by continuously refreshing their knowledge, abilities and skills, keeping up to date with changes in the business and social circles, integrating both hard and soft skills and more importantly being flexible and adaptable in modern business and workplace environments (Kirpal, 2010). Consequently, the job market has become overly competitive and where only the best employees in terms of productivity, innovativeness, value, accountability, performance and teamwork survive (Cronin, 2010). This forms the basis of this report which is an individual development plan. Requirements of the global graduate employment workplace The current global graduate employability environment is characterized by intense competition, outsourcing and scrambling for the few job positions by the many graduates (Farrell & M.G.I. 2007). To make matters worse, the labor market has been hit hard by the recent financial and economic meltdowns since majority of organizations, large and small from both the private and public sector have taken preferences to downsizing their operations through laying off sections of their workforce in order to survive the hard times and sustain their cost efficiencies (Kirpal, 2010). According to the author, this has generated a scenario where there are numerous qualified and capable individuals with thousands of debts in education loans, with limited positions for them to work in. Regardless of the government to improve the outlook of the employment environment, future uncertainties and more significantly, employers are more picky where the attitudes of entitlement and narcissism among graduates are not tolerated. The labor market environment demands hard work, accountability, self sacrifice, teamwork, innovativeness and creativity, respect and commitment from the labor force (Hager & Holland, 2006). Developing these soft skills are proving more fundamental than having a certificate degree in the long term. Students are now more than ever aware that they need to practice resilience and responsibility in terms of financial responsibility where they do not accumulate too much education debt, which are becoming increasingly hard to pay owing to the unstable job market. Irresponsible financial decision making on part of students prior to entering the job market is costing them in terms of the effect the debts have on their future earnings and investments (Cronin, 2010). The graduates within present labor market are necessitated to acquire varied skills other than their professional skills such as computer skills owing to restructuring of economies and the numerous changes to work systems and processes created by advancement in technology (Warwick, 2012). Graduate skills and attributes With the uncertainties present in the job market and the high demands exerted on graduates, universities and colleges are finding it integral to impart varied set of skills on their students in order to empower them to effectively and efficiently navigate the competitive and unstable labor market as suggested by Hager & Holland (2006). Other than imparting theoretical knowledge on students, universities and colleges have invested in exposing the students to real world business and workplace environment by taking them through compulsory industrial assignments and developing the student’s soft skills such as leadership, team work, creative thinking, motivation and skills in networking (Chiswick, 2011). These skills are integrated within the regular academic content and are considered essential components of learning. In my course of study, I have established the great need to enhance my teamwork skills and more so learning interpersonal skills necessary in working in a dynamic workplace environment, which is constituted with varied cultural elements. I have an in-depth passion for matters relating to management of business enterprises since I aspire to work in Dubai’s Business and Commercial sector subsequent to my graduating from the University. Despite the challenging times facing global economies and industries, the economy in the United Arab Emirates has been functioning fairly well with hundreds of foreign multinational companies from China, Europe and the United States of America investing in the region (FlashyDubai.com. 2012). According to the Bureau of Labor Statistics, US department of Labor, (BLS, 2012), the unemployment rate for the United States labor market has remained at 8.3% in the first quarter of the year 2012. On the other hand, the rate of unemployment in the United Kingdom stood at a seventeen year high of 2.6 million in the year 2011 with minimal variation expected for the year 2012 as reported by LEP (2011). The Dubai however, has low unemployment of 4.2% by 2011 felling from double digit. The rate of employment in Dubai among expatriate workers stands at 79% (FlashyDubai.com. 2012). The low unemployment rates are attributed to the rising rates of economic activities in Dubai. From this data, I am better placed and have better employment prospects in Dubai compared to the USA and in the UK especially as an expatriate. Dubai is making efforts to align its business systems and processes to international standards, which is crucial for me as a student wishing to work in an international business arena. How organizations determine their activities in recruiting graduates As earlier indicated, modern organizations are not merely impressed by certificate and academic papers but are more focused in attracting and retaining valuable employees who are well grounded and rounded in exploiting their best potential in order to improve their business sustainability (Farrell & M.G.I. 2007). The main objectives of employers and organizations in relation to selecting and recruiting is identifying the employment need of the organization and thereby, attracting the right employee, for the right job position and job description, at the right time and for the right cost or price (Kirpal, 2010). In current job market, organizations employ graduates based on three factors namely work-related experience, professional knowledge and skills and the graduate’s pay expectations as indicated by CIPD (2012). Based on these factors, I expect to enhance my work-related experience by seeking employment and working on part time basis while commitment and hard work in my school work and education will allow me improve my professional skills and knowledge. By enhancing my work-related experience and professional skills, I will be well positioned and confident in stating my pay expectations in future jobs. Professional bodies requirements In a bid to ensure quality and professionalism among graduates and professionals, being professionally certified has gained prominence. Among such bodies are the International Management Consultants Board, Universal Accreditation Board, eMarketing Association and Human Resource Certification Institute among others. In line of this, I expect to acquire professional certifications prior to entering the job market which will not only enhance my competitiveness against other graduates in the international arena but enhance my credibility as a professional. Current Performance and Personal Assessment Based on the current labor market environment and the requirements of organizations in selecting and recruiting graduates, I can confidently say my progress is fair although I need to improve on some areas. Such as continuous learning to ensure am routinely relevant to present needs and expectations of the job market and developing my soft skills particularly being a team player, a creative thinker and having the spirit to continuously learn from others, from personal experience and from other experts. SMART Action Plan Specific, Measurable, Attainable, Realistic and Time bound objectives Target Date Plan of Action Objective 1 Acquire work related experience November, 2012 To acquire a part time job related to my field of study in order to improve on my work-related experience in the long term Objective 2 Enhance my team skills December, 2012 Engage in as many group discussions and group activities as possible in order to expose myself to different situations and people from different cultural backgrounds in order to enhance my teamwork skills and soft skills necessarily when working in culturally dynamic workplaces such as in Dubai in the future. Objective 3 Acquire certified professional qualifications November, 2012 As earlier indicated, I need to enhance my professional skills and qualifications in order to enhance my competitive edge as a graduate. I plan to acquire my degree from the University and be certified by the International Management Consultants Board, which will enhance my credibility as a business professional. Further considerations on other certifications will be conducted with consultations with my tutor. Work –related Values Values that are important to me from a job Things that have little value from a job Working as a team Monotony of work Contributing positively to the society Recognition Financial rewards Physical challenge Social networking Among three most important factors Work Challenge Social relationships Personal and professional growth References BLS. 2012. THE EMPLOYMENT SITUATION —FEBRUARY 2012. Accessible from http://www.bls.gov/news.release/pdf/empsit.pdf Chiswick, B.R. 2011. High-Skilled Immigration in a Global Labor Market. London: Government Institutes. CIPD. 2012. Recruitment, retention and turnover (Annual Report 2011). Available: http://www.cipd.co.uk/NR/rdonlyres/746F1183-3941-4E6A-9EF6-135C29AE22C9/0/recruitretntsurv07.pdf. Last accessed 3rd March 2012 Cronin, K. 2010. Difficult Job Market for College Graduates: Millennial Generation Adjusting to New Economy. Educational issues. Accessible from http://keith-cronin.suite101.com/college-graduates-a218019 Farrell, D. & M.G.I. 2007. Off shoring: understanding the emerging global labor market. Harvard: Harvard Business Press. FlashyDubai.com. 2012. Dubai Has The Lowest Unemployment Rate in World [Less than 4.2%]. Accessible from http://flashydubai.com/dubai-has-the-lowest-unemployment-rate-in-world-less-then-4-2/ Kirpal, S.R. 2010. Labour Market Flexibility and Individual Careers: A Comparative Study. Sidney: Springer. Hager, P.J. & Holland, S. 2006. Graduate attributes learning and employability. Sidney: Springer. LEP. 2011. Leeds City Region LEP - Economic & Business Intelligence Update. Available from http://www.leedscityregion.gov.uk/uploadedFiles/Research_and_Publications/LCR_Economic_Bulletin/Combined%20Dashboard%20and%20Update%20Nov%202011%20for%20web%20publication.pdf Warwick. 2007. WHAT'S NEXT FOR THE UK GRADUATE LABOUR MARKET? Accessible from http://www2.warwick.ac.uk/knowledge/culture/graduateemployability/ Read More