Business Institutes and Management degrees seek to prepare students for Management roles and Entrepreneurship. But, sometimes, just an MBA Degree or PGDM may not be sufficient! A degree alone is not a master key to unlocking the Career of a student. There are a few other attributes to “Success” in today’s increasingly competent recruitment scenario. While top Management colleges in India focus on enhancing the employment prospects of a student, the latest transformation in the higher management institutions world-wide has been to lay more emphasis on making a student “Employable” or “Employment-worthy” in the long race.
A student generally makes a choice of his Business College based on several factors. Previous years’ “Placement records” is one crucial factor that a potential candidate takes into concern. This is a strong decision-making instrument, and it is not uncommon for students to influence their decisions from a career-oriented point of view. Since the fee-structure for higher management studies is invariably high; students want to ensure that that their investments are made at a bankable place with profitable returns at the end of a program.
What is Employability?
In simple terms, it refers a cluster of necessary abilities that involve the development of a knowledge base, expertise level and a mindset that is essential for success in the contemporary workplace. Employability skills include a set of learning’s, understandings and personal attributes derived from knowledge in an educational or working platform to ensure a candidate’s capability to offer effective performance at workplace. These transferable skills, which have developed in a person, can be developed in one area and transferred to other areas of work.
Employability vs Employment
Employment to a large extent is confined to the process of getting recruited in a job. But in the uncertain economic times of today, recruiters value employability of a candidate as they look for skills like leadership, initiative, problem-solving, enthusiasm, communication, team working and flexibility in a potential candidate. The selection processes have gone under significant transformation over the last few years. Getting employed at a suitable position is just the first step of the Career ladder. The rest of the steps can be painted golden only if proper employability skills are inculcated, practiced and implemented. Thus employment may be a temporary organizational commitment whereas employability refers to a life-long capacity to function at a job and move between the jobs.
The role of a College/Institute
Employability of a candidate largely depends on their assets in terms of the knowledge they have acquired, the skills they practice and the attitude they possess. The role of colleges and universities can be very crucial in developing commercial and entrepreneurial skills of a candidate. Skills such as leadership qualities, management abilities, technical skills, client management and interpersonal skills can increase the chances of getting recruited. Instead of wasting resources on training a new employee, organizations today are willing to hire competent employees. Institutes and colleges can contribute in a big way to develop competitiveness by implementing personalized career building approaches in today’s market context.
There is a need for keeping a balance between the components of employability and personal candidature. There is a need for supplementing employability with good academic records. Overcoming relevant deficits of employability by taking concrete measure will ensure a sustainable brighter career for any management student.
Disclaimer: This Article has been written by a member of Corporate Communications Team at Fortune Institute of International Business and doesn’t reflect the views of the Institution.