Employability Essays

Employability Essays Employability Essay Employability Essay INTRODUCTION: Employability is a persons capability of gaining and maintaining employment. (Hillage and Pollard, 1998). Why people are not getting the desired employment what they deserve or what they expect from their degree. This is the major problem or question faced by the young graduates. On the one hand a persons employability depends on the knowledge, skills and attitudes of this person. On the other hand labour market rules and institutions have significant impact on the ability of an individual to gain employment. Hence, a person with the same knowledge and skills characteristics might fare very differently in different national or regional labour markets. This is enabled by everyone coming out of the public employment and skills system being able to work in a team, communicate clearly, listen well, be interested and keen to learn, take criticism, solve problems, read, write and add. These employability skills are the lubricant of our increasingly complex and interconnected workplace. They are not a substitute for specific knowledge and technical skills: but they make the difference between being good at a subject and being good at doing a job. Employability challenge executive summary, UK) While there is no singular definition of employability, a review of the literature suggests that employability is about work and the ability to be employed, such as: the ability to gain initial employment; hence the interest in ensuring that ‘key skills’, careers advice and an understanding ab out the world of work are embedded in the education system the ability to maintain employment and make ‘transitions’ between jobs and roles within the same organization to meet new job requirements, and The ability to obtain new employment if required, i. . to be independent in the labour market by being willing and able to manage their own employment transitions between and within organizations. It is also, ideally, about: The quality of such work or employment. People may be able to obtain work but it may be below their level of skill, or in low paid, undesirable or unsustainable jobs, and so forth. The capacity and capability of gaining and maintaining productive work over the period of ones working life(Muhammad Nawaz Qaisar, MS HRD, NUML, Islamabad, Pakistan) There are about 200 MBA colleges in Karnataka affiliated to many universities. Bangalore University itself has around 5,000 MBA students, and offering various specialization and opportunity for the students to do MBA. The importance of higher education in relation to the progress of the individual and the nation cannot be overstated. In today’s world, the intellectual capital of a nation is its biggest strength in driving socio-economic growth. For an individual, higher education is not only a means of intellectual pursuit, but also a catalyst to become self-dependent financially to lead a respectable life. We as a Nation have been the beneficiaries of the new knowledge based world economy and so has been the consistently growing Indian middle class. To continue on this growth path and allow its advantages to trickle down to the masses, we need to continue to audit the quality of our higher education system, identify gaps and implement constructive interventions for a better tomorrow. (National Employability Report aspiring minds, 2009) The level of educational attainment of the working population provides a crude measure of the knowledge and skills available in each country. It presents the educational characteristics of the supply side of the labour market. In this context, the share of the population with high educational attainment was selected as the core indicator for measuring progress in the field of employability. If the employability rates decreases or low the training and development cost for the organizations become high and reduces the possibility of making good profit margin. There for it is very important to study the employability of the students, its causes and consequences on the job market and on the organization. STATEMENT OF THE PROBLEM: Why people are not getting the employment what they deserve or what they expect from their degree. This is the major problem or question faced by the young graduates. This study is trying highlight the problem associated with the employment of new graduates. Causes for the poor performance of the students and the remedies for this problem. This is enabled by everyone coming out of the public employment and skills system being able to work in a team, communicate clearly, listen well, be interested and keen to learn, take criticism, solve problems, read, write and add. These employability skills are the lubricant of our increasingly complex and interconnected workplace. They are not a substitute for specific knowledge and technical skills: but they make the difference between being good at a subject and being good at doing a job. The problem here is to understand and find solution or techniques to the major question as how effectively employability can affect the organization and its causes and consequences. Hence it is important to find out the employability of the MBA students. And why some students perform well and some are not. This research focus on finding out the employability rate and its causes and consequences on job market to the MBA students. This help in students to upgrade their abilities to become more employable and for the companies to form their recruitment, selection and training policy and also regarding the preparation of compensation plan for the graduates, and how companies can improve their quality of work force. OBJECTIVES OF THE STUDY: Primary objective: i. To study the employability of the MBA students, studying in Bangalore, from both VTU and BU. Secondary objectives: i. To find out causes and remedies of the employability rate. ii. Formulating strategies for students to become more employable. iii. Suggesting the strategy for companies and colleges to adopt strategy which can help to select the best candidates and make them employable. SCOPE OF THE STUDY: This study will cover what is the employability rate of MBA students. Training and development needs of the graduates. The research will be conducted by selecting the students and working professionals. REVIEW OF LITARATURE: Kanika Datta in New Delhi Source: [pic] September 06, 2007 Business schools have become so much the in-thing these days that most employers in India now consider it a minimum qualification for white-collar jobs, fulfilling the same function that the basic graduation degree did in the decades before economic liberalization. The huge demand for B-school graduates is amply reflected in the burgeoning numbers of institutes for business learning. Today there are 1,400 B-schools accredited by the All India Council for Technical Education and countless more   of questionable credentials or otherwise   that function without AICTE certification. In fact, the country produces almost seven times the number of B-school graduates as the UK. India is something of a unique market in which an MBA degree is considered a career-starter. In the developed world, in contrast, it is considered a mid-career enhancer. It is an option that a chosen few consider after learning their basic skills in the real world of business. Yet, heres the thing: ask any employer in India and s/he will tell you that the bulk of B-school graduates have a low employability value. Though rarely articulated, it is commonly acknowledged that outside of the 2,000-odd students from the premium B-schools like the Indian Institutes of Management who clearly skew the market, most Tier-II B-schools face a quality problem. According to a 2006 survey by RocSearch on the knowledge services market, only half of the 84,000 graduates from AICTE-approved Tier II business schools can be classified as fit to work in quality-conscious and competitive international companies. The fact that there is an acknowledged quality gap speaks volumes for the inadequacy of the AICTE approval process, which continues to focus on metrics such as a minimum number of computers and so on as qualifying criteria rather than robust qualitative standards. But it also says much for the nature of the education system. It is widely acknowledged that a B-school education is not an automatic guarantor of outstanding performance. So why the persistent demand for an MBA degree as a minimum job qualification? One answer is that this is the corporate sectors way of trying to correct for flaws in the university system. Shackled by state budgets, Indias notoriously under-funded universities   with notable exceptions   restrict their role to functional teaching shops rather than institutes of creative thought and research. On the other hand, an MBA curriculum by its very nature demands the kind of innovative thinking that crowded and stultifying university curricula rarely encourage   and there is a lot to be said for the now much-criticized case study approach in B-schools. Thus in India, we end up with the classic paradox of turning a specialist degree into a generalist requirement. To be sure, this basic flaw is something that those in the education business have begun to understand. That explains the rush for local tie-ups with global universities that leverage technology to provide access to world-class education through distance learning. Investing in quality education is also an opportunity for the corporate world to make a truly meaningful contribution in the corporate social responsibility space. As American businessmen understood long ago, business stands to gain the most by investing in education. As an aside, it is worth noting that RocSearch has estimated that out of the 3 million people added to the workforce every year across the major disciplines   MBAs, engineering, medicine, computer techies, lawyers, chartered accountants, college students and PhDs   about 500,000 can be considered employable in an international corporate workplace. From the employers point of view, this suggests a major leap in the premium that companies will have to pay to employees who meet the minimum employability criterion. From the employees perspective, the gravy train just got longer. tips for MBA students to make themselves more employable by Pritika Ghura Nowadays just doing a Master’s of Business Administration (MBA) is not enough to get your dream job. Since the corporate world is very competitive, demanding and dynamic, there are other skills that you should be proficient enough to secure your dream job with your dream salary. In an attempt to help you reach your career goals, we are offering you 7 tips to make yourself more employable-: 1) Enhance your soft skills: You must enhance your communication skills, presentation skills and soft skills. For those who’re not confident about their soft skills, joining a finishing school to develop your personality, body language, inter-personal and social interaction skills will be beneficial. 2) Be a team player: It is very important that you can work in a team, coordinate with your colleagues, communicate with them effectively and make proper adjustments. 3) Develop leadership skills: Since you will be hired at a managerial position after completing your MBA, it is very important that you’re able to manage a group of people. For that you need to develop leadership skills. ) Knowledge building: You should be updated with latest trends in your field. It is important to keep on doing courses to update your knowledge. Participate in all kinds of group activities like group case studies, simulations, industry interaction programs and inter- college level academic and extra-curricular competitions to keep yourself updated. 5) Develop corporate awareness: An employer is not o nly looking for a MBA degree but also the application orientation of the student. Students in B-school study the concepts of management in their classes but hardly understand how this knowledge can be applied in real business scenario. Thus there is a gap between theory and knowledge. To be able to bag the coveted job you must understand what business is all about and how you can contribute to the growth of any organization. 6) Strong Network: To be a successful professional, you must be well connected and have a strong networking with people in your field. Having a good network and being active on social networking sites will be useful for you. 7) Carefully selecting internships and placements: You must select a good/ reputed company in your field for internship as it is the only opportunity where you can exhibit your skills by translating them in performance. At the same time, you learn about a particular industry, how it functions and its operations in detail. Ensure that you select an internship in the same profile or industry you intend to work in future. Only 23% MBAs employable: Study Published: Wednesday, Oct 20, 2010, 0:42 IST By Puja Pednekar | Agency: DNA MUMBAI: A MeritTrac study across 60 tier II and tier III B-schools found that only 23% of students are employable. The study highlighted acute shortage of MBAs demand of 1. 28-lakh students as against availability of 20,000 from 132 colleges. In the study, available exclusively to ET, Kolkata led in verbal ability with passthrough rate of 83%, followed by Bangalore at 70. 6%. On quantitative side, Mumbai tops the chart with 99%, Bangalore chasing at 97. 9%. Overall, the passthrough rate in this category is high at 95%. Mental abilities test has seen all the six cities faring neck and neck with an overall rate of 85. 7% while Kolkata again stealing the show with 95. 7%. Overall picture on the abilities side reveals Kolkata being the king, followed by Mumbai. The study highlights that about 50% of students who took the test succeeded in it. Kolkata students have done well with 76. 6%. Mumbai is way below the average at 40%. MeritTrac conducted the employability study among 790 MBA students in Mumbai, Pune, Kolkata, Delhi, Bangalore and Hyderabad . Madan Padaki, cofounder and director of MeritTrac, said: â€Å"During a placement process, colleges should encourage corporates to give performance feedback to students. † The firm conducted a group interaction test to assess articulation, grammar, assertiveness and confidence. Hyderabad emerges as the dark horse topping the charts on the articulation front with 3. 03 on the scale of 0-4 with Mumbai giving it a close run at 3. 2. Kolkata performs satisfactorily at 2. 98. On the grammar side, Kolkata bounces back with 2. 84 and is followed by Mumbai with a close 2. 81. Chennai puts up a dismal performance with a score of 2. 14. On the assertiveness and confidence index, Mumbai again rules and is being chased by Kolkata. Study highlights acute shortage of MBAs in the coun try Kolkata led in verbal ability with pass-through rate of 83%, followed by Bangalore at 70. 6% On quantitative side, Mumbai tops the chart with 99%, Bangalore chasing at 97. 9% Mental abilities test has seen all the six cities faring neck and neck with an overall rate of 85. % while Kolkata again stealing the show Source: Economic Times RESEARCH METHODOLOGY: Deal with the analysis and performance of individual responses that are to be surveyed, about their quantitative, verbal, English, general awareness, business ethics, confidence, communication skills, basic managerial skills, domain knowledge, work experience. Based on the analysis, interpretation will be made and tabulated and represented graphically. Structured survey method, questionnaire method, Test as well as secondary data collection via internet, Newspaper, Journals will be used to conduct the research required for the study. DATA SOURCES: For the study both primary and secondary data are collected, from 100 students from different colleges and universities. Primary source: will be done through questionnaire and conducting tests. Secondary source: will be done through review of literature collected from various Journals, magazines, newspapers and internet. PLAN OF ANALYSIS: ? In this research survey, respondents’ performance and reliable information has to be collected from 100 respondents and results will be estimated from the tests and responses obtained and information drawn. Next step is to cause and consequences of the employability. ? The parameters use to analyze are: such as: the ability to gain initial employment; hence the interest in ensuring that ‘key skills’, careers advice and an understanding about the world of work are embedded in the education system the ability to maintain employment and make ‘transitions’ between jobs and roles within the same organi zation to meet new job requirements, and The ability to obtain new employment if required, i. e. o be independent in the labour market by being willing and able to manage their own employment transitions between and within organizations. It is also, ideally, about: The quality of such work or employment. People may be able to obtain work but it may be below their level of skill, or in low paid, undesirable or unsustainable jobs, and so forth. The capacity and capability of gaining and maintaining productive work over the period of ones working life. Quantitative, verbal, English, general awareness, business ethics, confidence, communication skills, basic managerial skills, domain knowledge, work experience. Parameter tests such as chi-square test or correlation and regression analysis can be used to draw the inference. HYPOTHESIS FORMULATION: In order to obtain focus for the research study and capture the essence of research, the hypothesis has been developed. Null – H? : All the respondents are readily employable. Alternate Hypothesis – H1: All the respondents are not readily employable. Null- Ho1: Formulated strategies are use full for students. Alternative hypothesis – H11: formulated strategies are not use full. Null- Ho2: Companies need not have to provide training programs. Alternative hypothesis – H12: Companies need to offer them a training programs. LIMITATIONS OF THE STUDY: The study is subjected to the following limitations: ? Time factor can be considered as a main limitation. ? Finding of the study are solely based on the information provided by the 100 respondents. ? The information providers may have different characters which are other the tested parameters which may be a limitation. ? Level of employment may be a main limitation of the study. Data collected is only from VTU and BU affiliated MBA colleges. CHAPTER CHEME: Chapter 1: Introduction Introduction about the topic. Chapter 2: Review of literature The literature journals, books, reports etc studied about this topic before conducting the research. Chapter 3: Research design Title of the study, statement of the problem, objective of the study, collection of data, sample design, hypothesis, plan of analysis, limitatio ns of the study Chapter 4: Profile of the organizations The colleges and university from which the sample is selected and data is collected. Chapter 5: Analysis of data and Interpretation Analysis of collected data using various methods and drawing the conclusion, and testing the Hypothesis. Chapter 6: Findings, suggestions, conclusion This chapter is regarding findings of the study, suggestions to the problem defined and conclusion. BIBLIOGRAPHY Journals and news papers â€Å"The yashpal Committee to Advise on Renovation and Rejuvenation of Higher Education† june 2009. National Employability Report [pic] 2007, page number 4. Kanika Datta, [pic] September 06, 2007 Puja pednekar, Only 23% MBAs employable, Wednesday, octo 20, 2010, Agency DNA Economic Times Websites http://articles. economictimes. indiatimes. com/2007-02-02/news/28385635_1_kolkata-mumbai-tops-merittrac http://en. wikipedia. org/wiki/Employability http://business. rediff. com/slide-show/2010/mar/23/slide-show-1-india-to-face-huge-skills-gap-due-to-low-employabi lity. htm financialexpress. com/news/employability-gaps-puncture-indias-talent-pool-claim/43054/