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Friday 12 July 2013

HOW RELEVANT IS THE 4-5YEARS OF TERTIARY EDUCATION AND THE MARKETABILITY OF UNIVERSITY GRADUATES VIS A VIS ITS SUSTAINABILITY IN THE LABOUR MARKET.



Education is a form of learning in which the knowledge, skills and habits of a group of people are transferred from one generation to the next through teaching, training or research.
Education can take many forms. These include; formal education (through academic mainstream schooling, including technical and vocational instruction for youth) informal education (learning that takes place outside of institutions) special education (for those experiencing intellectual/physical disability) and non-formal education (life-relevant knowledge and skills acquired both within and outside educational institutions).
Tertiary education is also referred to as third stage, third level, and post-secondary education. It is defined as the educational level following the completion of a school providing a secondary education. Higher education is taken to include undergraduate and post graduate education.
Tertiary education is more than the next level in the learning process; it is a critical component of human development worldwide. It provides not only the high-level skills necessary for every labour market but also the training essential for teachers, doctors, nurses, civil servants, engineers, humanists, entrepreneurs, scientists, social scientists, and a myriad of other personnel. It is these trained individuals that drive local economies, support civil society, teach children, lead effective governments and make important decisions which affect entire societies.
An educated populace is vital in today's world, with the convergent impacts of globalization, the increasing importance of knowledge as a main driver of growth, and the information and communication revolution.
Knowledge accumulation and application have become major factors in economic development and are increasingly at the core of a country's competitive advantage in the global economy. The combination of increased computing power, diminishing prices of hardware and software, improvement of wireless and reduced telecommunication costs has all but removed the space and time barriers to information access and exchange.
         Higher education has given ample proof of its viability over the centuries and of its ability to change and to induce change and progress in society. Owing to the scope and pace of change, society has become increasingly knowledge-based so that higher learning and research now act as essential components of cultural, socio-economic and environmentally sustainable development itself is confronted therefore with formidable challenges and must proceed to the most radical change and renewal it has ever been required to undertake, so that our society which is currently undergoing a profound crisis of values, can transcend mere economic considerations and incorporate deeper dimensions of morality and spirituality. 
In today's globalized world, and in a knowledge-based economy, we have seen the emergence of knowledge as a major driver of growth in the context of the global economy, the information and communication revolution, the emergence of a worldwide labour market, and global social-political transformations. A tertiary education plays a key role in acquiring and building this knowledge.
         Tertiary education institutions play an essential role in supporting basic and secondary education. The training of teachers and school principals, from pre-school to the upper secondary level, is the primary responsibility of tertiary education institutions. Education specialists with tertiary education qualifications participate in curriculum design and educational research for lower levels. This link between tertiary education and the other levels of schooling stimulates a virtuous circle of capacity building because the quality of tertiary education affects the quality of primary and secondary school education.
         The importance of higher education in the process of national development cannot be underestimated. To remain competitive in the ever-changing market conditions, many governments need to produce value-added capabilities to the present and future human capital in order to stay viable in the global competition. A well-planned strategy in the educational sector is considered important in today’s environment where a massive human capital is located.
         Organizations has always placed emphasis on the publics who would determine its life span. In the context of higher education institution, graduates are the main public whereby their marketability is the key measurement of a university’s effort in the human recourses development.
         Trying to set yourself apart in the entry-level job market can be a challenge. Especially when you are a recent graduate. Employers don't want to hire someone who can merely perform the initial job duties satisfactorily. Rather, they prefer to hire academically prepared, highly motivated, and ambitious workers who offer them a good, long-term return on their investment.
   It is true that employers hire people, not pieces of paper. Impressive curriculum vitae that documents evidence of academic excellence, demonstrated leadership, personal initiative and well developed social skills will definitely get the attention of recruiters and hiring managers.
    The key is to present written credentials that depict you as a graduate who "stands out from the crowd" as an exceptionally qualified prospective hire. Your curriculum vitae are your calling card. The more impressive it is, the more desirable you will be as a prospective candidate, and the more marketable you will be when pursuing employment options.
   In today's world, industries are experiencing changes more rapidly. Various factors are propelling these changes in technologies and intense competition. These changes have a profound impact on higher education institutions, as education is the foundation on which competitive workforce is built. In the era of a new revolution in which knowledge and applied intelligence is rapidly becoming the key to national survival and success, "marketable" graduates are needed to help their organisations gain a competitive advantage.
  The most important books are not necessarily best-sellers; the most praiseworthy people do not usually have fan clubs. Although the current climate seems to favour "marketability" over other criteria.
   Among recent graduates there are some signs that the nature of graduate jobs is changing. Over the last decade there has been a relative shift in graduate employment, from professional to associate professional and technical occupations. This may either reflect a growth in graduate numbers that has exceeded the growth in demand for professional worker, or alternatively, an upgrading in professional and technical jobs. For example, the professionalism of jobs such as occupational therapy and nursing.
Research suggests that new graduates understand the labour market, and most do not expect to enter graduate level work straight away, but rather to achieve this perhaps three years on. Many realise they will need to progress through a number of stepping stone jobs to develop relevant work experience that will increase the currency of their degree qualification before developing a clear career path.
  The success of new graduates in the labour market depends upon a number of highly inter-related factors, including the socio-economic background of those graduates, their willingness to relocate for work and the subject from which they graduated.
SOCIO-ECONOMIC BACKGROUND
Students gain the most from higher education. They gain better degree classifications, have higher satisfaction ratings of their experience, and better labour market outcomes in terms of higher average salaries, higher level occupations and are perceived to have better quality jobs (jobs with high entry requirements, offer skills development, and are well regarded positions)
SUBJECT CHOICE
Employment outcomes are still contingent on choice of degree subject made by graduates. Graduates who have studied professional subjects such as veterinary science, education and medicine are consistently more likely to enter (and quickly) into a graduate level occupation than those who have studied more general arts and humanities courses. Indeed, those following professional courses are most positive about the value of their higher education and are most satisfied with their careers. Arts and humanities students are among the least satisfied in relation to career opportunities and are most likely to anticipate changing career direction in the medium term. This group need support to build relevant work experience, and to identify access suitable careers.
MOVING FOR WORK
         The mobility of graduates may also play a key role in labour market success. Graduates who show themselves to be hypermobile, in terms of their willingness to move away from home to study and then again to find work, are also the most likely to be employed in higher level jobs, to have above average salaries, and to be in perceived high quality jobs.
         In response to employment challenges; as encouraged, the scope of education has been expanded by including entrepreneurial skills and training opportunities, and intergenerational partnerships for youth aligned to rapidly changing labour market needs. An example is the introduction of ENT 202 (ENTREPRENUER) to students of Lagos state university. 
The solution to this problem will be determined by the vision of the future society, and it should be noted that we are the future; it will also be determined by the role that is assigned to education in general and to higher education in particular.
 Perhaps it is time for everyone to move past the headlines, stop talking at each other and start listening so that expectations and aspirations can become aligned.
         Considering that a substantial change and development of higher education, the enhancement of its quality and relevance, and the solution to the major challenges it faces, require the strong involvement not only of governments and of higher education institutions towards society and accountability in the use of public and private, national and international resources.
         We all have a vital role to play in building a sustainable labour market; let's look at the brighter side of every situation. Cease the moment and get involve.

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