Academic Knowledge or On-Job Skills: What Is More Important?

More and more businesses across the globe are now looking for new recruits with the right skills, knowledge and qualifications. But if you think that means more job opportunities for you, then you need to think again. If you want to make the most of these employment opportunities then you need to ensure that you have exactly what the employers want. Studies show that currently there is a “skills gap” in the business world as there is a dearth of skilled employees needed for the technologically-inclined companies.

Are Graduates Job ready?

It was recently found that millennial in the workforce, who were polled by Deloitte, noticed a strong disassociation between the skills employers value in the workplace and the knowledge they have acquired in university. So are colleges incompetent in creating job-ready graduates? Can colleges prepare students for the corporate world? Take a look...

This has now become a looming question in the US as more than 2 million students are about to graduate. According to the responses of over 8,000 millennials, who were surveyed by the Deloitte Touche Tohmatsu Ltd. (Deloitte Global) regarding the necessary skills for the workplace, it seems that most colleges and universities are unable to make graduates job-ready. The surveyed professionals think that the educational knowledge and analytical skills they acquired during higher education have not been able to significantly help them in fulfilling their daily responsibilities. Instead, the skills which they learn while on the job have proved to be more beneficial. Hence, these young professionals believe that such on-the-job skills are more crucial in helping them accomplish the overall goals of the business as well as their personal career goals in the long term.

When the young professionals were asked that how helpful the skills they acquired in college compared with professional skills they gained since graduation, around 63 per cent of respondents claimed on-the-job skills were more beneficial; while 37 per cent said academic knowledge was more helpful in achieving overall organisational goals. Moreover, when they were urged to rate both types of skills regarding what they think employers value more and the skills which express their personal strengths, the responses of the millennials show that there is a skills gap.

Need for the Right Training

The Deloitte survey ultimately suggests that companies need to heavily invest in training and development for their employees so that graduates can make significant contributions in accomplishing organisational objectives. One of the most effective and affordable ways employers can do this is by encouraging and supporting their employees to study a relevant online degree.

In fact, if you are a young professional then studying an online programme from any reputed UK university can actually help you to develop the right skills and boost your employability. One of the biggest advantages of studying online from UK is that you will not only gain quality academic knowledge, but will also be able to develop on the job skills simultaneously. As online courses allow you to study in flexible and convenient way, you can study while employed in a full time job. In fact, most businesses are now opting for candidates with online degrees as they have both experience and an accredited qualification.

The fact is earning an affordable UK university degree online can be highly beneficial for you as it will help you in reducing the skills gap and make the most of the available career opportunities.

How are you planning to close the skills gap? Share your thoughts and concerns with us. Simply comment in the box below.

Source: bit.ly/1HtAkhX

Is Skipping College For Your Start-Up A Good Idea?

Do you dream of becoming an entrepreneur? Are planning to start a business? Can a college degree help in your start-up? Or should you skip college and start your business right away? Let’s find out....

Is College Worth It?

Several college graduates are now becoming entrepreneurs and most of them are wondering whether college was worth it. Although there are some graduates who believe the skills and knowledge they gained from college make them better entrepreneurs, there are many others who think college was a waste of time and money and they should have dropped out and started their business sooner. 

Should You Skip College?

According to a 2013 study by Hiscox, a small business insurer, almost 50 per cent of small business owners in US claim that the national education system fails to identify and inspire individual dreams and ideas, 2 crucial elements in entrepreneurship. Moreover skipping college for starting a business becomes more appealing when you consider that entrepreneurs like Steve Jobs and Bill Gates did not earn any formal college degree.

However for every successful entrepreneur without a formal education, there is one college dropout who wishes he completed college before starting business. The fact is there are several factors that you must consider before you take such an important step. 

Don’t Miss Out On Opportunities

However, when you have a great idea, then it simply does not make sense to spend 4 years in college and miss out on excellent opportunities. So if you wish to start your business as soon as possible and yet earn a higher education qualification, then the best option for you is going online. Online programmes are designed in such a way that enables you to work full time and yet acquire essential skills without investing excessive time and money. 

Pursuing an online diploma in business can help you to gain necessary business skills and knowledge that will enable you to lead your start-up towards success. Moreover as you will be able to work while you study, you can gain relevant and real-world work experience to have a better understanding of the business and the sector you are in.

Get Some Real-World Experience

Skyler Slade, co-founder of automated customer research app Coefficient, believes work experience is crucial to being a better entrepreneur. Initially he worked with Grooveshark, a music-streaming website, to gather experience and knowledge about how to run a business. He says, “Working at someone else's startup for five years prepared me to start my own company more than any college degree could have. It's one thing to take classes on entrepreneurship, and to read about management, but it's another thing entirely to actually be in the thick of it, to be thrown in headfirst and have to sink or swim.”

Slade believes that you need to gain some experience with a startup or an established company before thinking about skipping college and starting your own business. However, it is also important for you to have a college degree if you wish to get a job.

Can College Degree Guarantee A Job?

A new study by Burning Glass Technologies, a labour analytics firm, reveals that most employers worldwide are now treating a college degree as basic eligibility criteria for their screening process to hire better employees. Matt Sigelman, CEO of Burning Glass Technologies, said “For an individual employer, that may be an understandable step. When everybody does it, however, this becomes a trend that could shut millions of Americans out of middle-skill, middle-class jobs.”

The trend has been rather significant in fields where college degree was not traditionally required for employment. In fact, many organisations are looking for the right candidates with a bachelor’s degree even if that makes the recruitment process more challenging and difficult. According to the authors of the research, employers are depending on college degree as a recruitment filter which may or may not be related to the specific skills required for the role.

So What Should You Do?

In this scenario, earning a bachelor’s degree becomes more important for you even if you wish to become an entrepreneur. Pursuing an online diploma in business will not only help you to earn a recognised qualification, but it will provide you ample scope to do a full time job at a start-up or an established organisation in your chosen field. Once you have acquired adequate experience and feel you are ready to head out on your own, you can rely on your business education to establish your own business.

The truth is skipping college might be a good idea for you if you wish to be an entrepreneur, but skipping higher education altogether can cost you dearly. I would suggest that you enrol for an online higher education programme and earn some relevant experience simultaneously. This will provide you a firm platform for your future start-up.

What Do You Think? 

Would you opt for college or do you think starting your business now is a better idea? Let us know your views, concerns and opinions. We would love to hear from you.