In today’s modern society, progress along with change is inevitable and with this, a growing business faces various challenges. Dealing with these different obstacles requires different approach towards a viable solution. Identifying and prevailing over the pitfalls inclined with the entity’s growth is essential as it continues to grow and create a sustainable progress for its future.
As a business continues to overcome and somehow adapt to changes, factors which are incorporated with it must be taken into consideration. One of the most important parts that must think about and never be neglected is the workforce. It is an essential part of an organization. It serves as the main engine of the business. Having skilled human resources is the
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The right job for the right people leads to an effective result. For that reason business nowadays should be more clever in selecting its workforce. A man put in a place or job fitted to him are expected to have an efficient outcome than those who has lack knowledge of the task assigned to him.
One of the common and mostly known problems in workforce nowadays is skill mismatch and how do it drastically affect a business. Skill mismatch is one of the dilemmas faced by economies in this era. It is the occurrence when a worker’s job does not correspond with his/ her level of education, experience and interests. These could lead to lower job contentment, skill loss, productivity loss, poor income stability and troubles with workforce attachment. As observation point out, in far too many cases, employees do not adequately match with the current jobs they are
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Due to this situation some business sectors have experience restructuring on their work practices. The skill mismatch which is already a present problem in the business sector’s workforce has even worsened due to the restructuring process. It leads to structural unemployment and shortage on both over education and skill shortage. As a solution, a program that aims to sustain the economic development by strengthening and ensuring the necessary skill and competencies are in the population was supported by the European policy makers. The program also aims to eradicate the skill mismatch’s pessimistic upshot in the deficient qualification of skills or vice versa of an individual in line to its job
With an unstable business environment and competitive job market individuals are finding it more difficult to acquire or maintain a way of life they have been accustomed to. Unfortunately this change is occurring faster than society would like to believe or can keep up with. The days of working for one company until retirement is one of rarity. Technological advancements, global competition, lack of leadership and foresight all play a part in the instability of the job market. Company mergers, acquisitions, reorganization, hostile takeovers, and just going out of business can happen regardless of tenure, or years of service. Individuals who lack a degree will find themselves at a disadvantage if ever unemployed or looking for a promotion. With a growing rate of unemployment, and need for skilled labor, employers are more selective in their choice of potential candidates and may overlook a qualified individual for one that possesses a degree. Although this practice may seem unjust or short sighted, it happens everyday. How an individual accepts this reality and positions themselves for future marketability is the focus of this argument.
Growth can overwhelm a business if it is not handled effectively. There are both internal and external risks to growth. Some internal risks that Fellers will face are management risk, not having enough personnel to handle the new demands, having to train or retrain employees; money concerns, such as not having enough cash flow to grow; and quality and quantity control. Some external risks to consider would be related to competition, staying ahead of the curve, continuously searching and retaining customers and staying abreast to what the customers want. Fellers has made her business successful thus far and needs to continuously keep in mind how she became successful to begin with and capitalize on her strengths. Before she decides to grow, she needs to ask herself, at what pace or rate should she grow (CSU,
In the line of work exist a wide range of diversity issues that are affecting more the middle age group population up to retirements. We are talking about the individual who is the major contribute to a household. The population of United State is rich of the diver’s culture, language, traditions, support system, and values. According to Edward Gordon, (2010), “more than fourteen million Americans are unemployed today. And three million stem-related jobs were vacant across the US economy.” These numbers were stated through different firms, which recognized the existence of a grand number of unemployed population that do not have the skills needed that businesses are required to survive in a competency world market. The technology keep changing and most of the business companies need to refine their job structure to be able to compete and most of the adult population do not have those
In the line of work, exist a wide range of diversity issues that affect the middle age group population up to retirees. We are talking about the individual who is the major supplier to a household. The population of United States is rich in diverse cultures, languages, traditions, support system, and values. According to Edward Gordon, (2010), “more than fourteen million Americans are unemployed today. And three million stem-related jobs were vacant across the US economy.” These numbers were stated through different firms, which recognized the existence of a grand number of the unemployed population that do not have the skills needed that businesses require for the survival
They point out that awareness and understanding of these causes assist companies in avoiding the growth stalls. In addition, the article demonstrates few practices that some companies use to predict and prevent the problem.
After the exiting performance has been sustained, business organization can think for improvement and growth. In other words, after sustaining current position, firm can strive for future growth and improvements in performance. Growth of firm can be in any direction but more important is that growth in based on strengths or strong areas of organization. There are different alternatives for AdTaily to grow, summarized as under.
The distinction between the start-up and growth stages in not easily defined. The distinction lies in the revenues, profits are stronger and are consistent with an increase in customers, as well as, new and exciting opportunities for the employees to pursue. Managers can look forward to many managerial challenges, perspective policy issues and re-evaluating the business plan for revisions. A manager’s focus should be in the running of the business, with a greater emphasis on accounting and human resource management systems. New staff will have to be hired, trained and prepared for the influx of business.
Additionally, a startling outcome of this mismatch is the long-lasting damage mismatches cause. A 2003 study completed in Sweden, emphasized the imperative of young people finding appropriate first job placements for their skill level. O’Reilly cites this study, in the article “Five Characteristics of Youth Unemployment in Europe”, which found that “61% of Swedish 18-29 year olds who were overeducated in 1981 were still so after 10 years” (O' Reilly, Eichhorst, & Gabos, 2015). This indicates that a legacy of underemployment exists once one enters the labor market, and many individuals are unable to break out of this cycle. In an economic environment where college attendance is expected, there is unfortunately no connection between being overeducated and over-skilled (O' Reilly, Eichhorst, & Gabos, 2015). Students may have formal education that over qualify them for particular positions, but employers find they do not possess applicable skills. While there is little argument that mismatches between jobs and skill levels are detrimental, there is little concrete understanding of why these mismatches truly
In today’s world, where demand for the skilled workforce has increased considerably, it has become critical for everyone to sharpen soft skills along with technical knowledge and expertise. With the changing demands, expectation of business enterprise with workforce is also changing. And to meet the ever increasing demand and expectation of business enterprise, the workforce has left with no choice but to be equipped with sound knowledge of soft skills in combination with hard skills before entering the job market. There is infinite growth in well-paying job opportunities due to liberalization, privatization, and globalization. However, an infinite number of fresh graduates are produced every year, but there is a lack of employable graduates since the focus is always on technical knowledge and expertise. Developing soft skills along with hard skills has become a
Competency mapping is gaining much more importance and organizations are aware of having good human resources or putting the right people on right job. It is important and essential exercise. Every
As the Seniors and Baby Boomers are exiting the workplace, companies are seeing a void with applied skilled labor. Some of the new generation of employees is lacking basic knowledge skills such as writing and grammar, but even more are lacking skills, such as professionalism, teamwork, punctuality and common courtesy.
In the future, employing organizations will face a wide range of issues and challenges in meeting their workforce requirements. These periods of difficulties generally will center around the effects of external environmental influences on the organization and the manner in which it manages ongoing issues. Many of these external factors filter down and influences an organizations roles and responsibilities for talent scarcity, changing products or services, shifting demographic composition and their consumer preferences, etc.
O’Lawrence and Martinez (2009) believe that the importance of workforce education and development may lay on the promotion of individual learning and skill training. According to Gray and Herr (1998), workforce education has two principal missions. The first one is linked to providing people with the society career opportunities. Under this mission, workforce education and development professionals are expected to handle the following as identified by tasks. Gray and Herr (1998):
But still there is a vast skill gap that causes a mismatch between industry needs and institutional output. India being a nation with a high percentage of youth nearly 35% are between the age group of 15 to 21 who after completing their graduation are in a position to enter into a job market. But due to the lack of skills that are required for an industry many people out of that lot fail to enter the job market (Murugaia S. 2014) Employers recognize that “soft” skill development is essential for their employees. These skills are difficult to teach to employees once they are on the job. Therefore, they should be learned through development opportunities such as higher education (Arensdorf,Jill
In conclusion, There are several ways for solving employment problems after graduation. In this essay was reviewed two decisions, one of which is a complication of entrance examinations, another is practice while studying. Considering these solving becomes clear that the most powerful solution is practice. Since it contains more positive qualities such as work experience, opportunities to get a job in that company in which the student was an intern, and so on. The second solution is weak as a complication of examinations leads to a good quality of knowledge, but not all can contribute to getting a job.