The productivity performance of the UK’s job market has decreased with almost half of the graduates engaged in non-graduate jobs.
What does it prove then? It proves that the expenditure of students in education rises and exceeds than the range of their income from their jobs, finally creating the problem of student-debt burdening them more and more.
UK’s failure in providing relevant jobs
The Chartered Institute of Personnel and Development (CIPD) reports that the mismatch between the university leavers and the appropriately skill-dependent number of jobs has left the UK as almost half of the graduates are engaged in non-graduate jobs, ultimately resulting in their meaninglessness of pursuing graduation.
Peter Cheese, CIPD chief executive, said “The assumption that we will transition to a more productive, higher-value, higher-skilled economy just by increasing the conveyor belt of graduates is proven to be flawed.”
The government’s realisation
What are the requirements of the employers from the employees? It is education as well as the skill-based knowledge that enables the employees to perform at a professional platform more accurately and relevantly. The graduation or the traditional qualifications are not completely able to provide technically applicable skills, which is highly required at the professional field.
The government evaluates that the 45% of the university graduates will not be able to repay their student loans.
According to the figures from the European Social Survey, the performance of the UK in skill- based jobs has decreased at a rate if the employment records, from the year 2004 to 2010, are observed. It is found that the UK grew more towards the inclination of moving towards the non-graduate jobs than the graduate jobs. Surprisingly, in the year 2010, the percentage of the UK candidates following non-graduate jobs came to 58.8% resulting and this percentage is only surpassed by two countries – Greece and Estonia.
Over-qualification creates more problems
Graduate over-qualification appears to be one of the most influential problems of the UK. Lacking the ample amount of relevancy for the job-markets, it essentially results in the originating of the mismatch between education and professional requirement.
According to the international comparisons in the report, “Over-qualification and skills mismatch in the graduate labour market.”
The probable solution
The productivity can only be increased by apprehending the applicable skills on education and the fact of giving more stress to it.
The educational sector has to modify itself including a more skill-concentrated agenda into education where the students can get the privileges of implementing the skills into the job-markets. The educational courses may include vocational performance-based training or apprentices besides the traditional degree programs.
Cheese also said “The government needs to ensure its productivity plan includes a specific focus on creating more high-skilled jobs and work with employers, particularly SMEs, and with key stakeholders like Local Enterprise Partnerships and Business Growth Hubs.”
Another recent news
According to the Higher Education Statistics Agency (HESA), that the recent university leavers were successful in getting suitable jobs with raised salaries, which shows the improve of the job market. Two-thirds of the graduates were able to be classified as ‘professional employment.’
Relevant education leads to better jobs
So, it is highly understandable that the relevancy in the educational courses assists incorporating the skill-based training, which ultimately becomes one of the main reasons for a candidate’s professional success. The educational sector of the UK is facing theses problems as its education did not, completely, have the required elements needed for professional purpose. Incorporating and utilising these elements will eventually assist the students to be better employees in the future.