Issues of Employability, Population, and GDP
Sep 12, 2022 By Susan Kelly

In its narrowest sense, "employability" refers to a package of distinct abilities, including those that are "soft," "hard," "technical," and "transferable." As an additional aspect, employability is viewed as both a product (a collection of talents that "enable") and a process that "empowers" a person to acquire and enhance employable skills.

How Do You Define Employability?

To increase one's employability throughout a lifetime and weather the labor market's ups and downs, one must constantly learn and use new information, gain new experiences, and hone their abilities. It takes into account specifics about each person. It is not the same as having a job, but it is necessary to get one.

A person's employability is measured by how successfully they can obtain and keep a job, as well as how easily they can switch from one position to another within the same organization or profession, or to a different one entirely, at their discretion and in response to changing market and economic conditions.

Financial Capability and Economic Knowledge

Labor and human capital are two examples of production factors that may be used in either the production of goods or the delivery of services. Human capital is typically understood to refer to professionals with advanced degrees, whereas blue-collar labor typically refers to unskilled people. Both labor and human capital are in short supply. Knowledge, skills, and talents in demand in today's knowledge-based economy are essential if labor/human capital is utilized effectively.

Responding To The Need For Employees

Workers' adaptability to changes in the labor market is a critical factor in their employability. To prevent becoming obsolete, one must regularly update one's skill set, especially in fields where technical and organizational developments occur at a breakneck pace.

Most employers are looking for people with talents like:

  • Knowledgeable professionals who have advanced degrees, strong academic credentials, and a wide range of transferrable talents
  • Self-awareness regarding strengths and shortcomings
  • Positive attitude and hard effort
  • Capacity for in-depth analysis and creative problem-solving
  • Communication
  • Culture-savvy

Motivating Factors in Employment

Numerous stakeholders in employability can be broken down into primary and secondary groups. The main actors are employers and employees. Schools, colleges, and universities, together with their respective constituencies and laws that will affect employers, employees, and educational institutions, make up the secondary players.

Can unions be viewed as a factor in a person's chance of getting a job? Whether they have a beneficial or adverse effect on blue-collar employees' jobs is contingent on union talks with employers/management and the type of profession, which may or may not include white-collar workers, management, etc.

Expertise in Technology

Hard skills, also known as technical abilities, can be defined and assessed, such as becoming an acknowledged expert in a given sector. For instance, one could be proficient in a variety of software programs, data input, the operation of various pieces of machinery, many languages, and the effective use of mathematics.

Transferable Skills

Personality traits like optimism, common sense, responsibility, a sense of humor, integrity, as well as honed skills like empathy, teamwork, leadership, communication, good manners, negotiation, sociability, teaching ability, and attention to detail, fall under the umbrella of "soft" or "transferable" skills.

Skill Transfer

These are the higher-level abilities that allow one to pick and choose which other abilities to use in various scenarios, social settings, and mental spheres. They are not taught in school but are useful in practically any field, may be taken from one position to another, and can be honed and perfected.

Capabilities That Can't Be Taught to Others

Skills that aren't easily transferrable are only helpful in a narrow range of contexts, such as a single industry or field. One example might be specialized knowledge of a given computer application or software.

Capabilities for Cultural Competence

Cultural competency is another soft talent that is valuable in every industry. The growing cultural diversity in the workforce relates to your ability to collaborate effectively with people of different backgrounds.

Competence in Language

The capacity to speak a foreign language and converse in the native tongue of another culture aids in comprehending that culture's attitude and way of life, hence linguistic abilities go hand in hand with cultural competence skills.

The Conclusion

To further complicate an already contentious topic, the idea of employability is inherently dynamic, including a wide range of actors and factors that each have direct and indirect effects on one's capacity to seek for, secure, and keep gainful work over time. Numerous variables impact it, including one's degree of education and training, IQ, culture, socioeconomic prejudices, and political leanings.