What Can Firms Do to Integrate Graduates Who Lack Experience?
The current study is relevant due to the alarming fact: governments across the world encounter the problem of youth unemployment these days. According to the international statistics for March 2014, the unemployment rate among workers aged under 25 was 14.5% (Cheong et al. 2257). While it is a disturbing issue from both social and economic perspectives, businesses undertake attempts to reduce this occurrence by hiring graduates who do not yet possess the required level of experience. A given tendency, however, forces corporations to allocate extra-budgetary resources to eliminate the problem of insufficient knowledge, which creates additional obstacles in the matters of companies’ further development.
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The data for the upcoming research will be retrieved using scholarly resources and documents found via online databases. Readers will receive the opportunity to familiarize themselves with the recent statistics, as well as opinions of scholars involved in the study of the given topic. Blatter et al., for example, bring evidence to the fact that marginal investment in the unskilled workers’ training allows companies to avoid heavy costs for external hiring (242). The authors also state that controlling the process of training helps to achieve the desired outcomes with less time devoted.
The research can assist employers in expanding their insight into the labor market tendencies and help them to unveil a higher number of options. Also, the study will provide practical advice to all participants of the market. To close a skill gap, which is inherent in all newly arriving graduates, corporations across the world need to, first of all, put into practice the strategy of early recruitment. This strategy involves holding seminars and giving practical classes to high school juniors to facilitate their integration into the life of a company since early days.
How Will Firms in Libya Integrate New Inexperienced Graduates?
The relevance of this research is primarily conditioned by the fact that the labor-training program of graduates in Libya requires a substantial modernization. As Shareia points out, the process of training presupposes meaningful engagement with the international community due to the “increasing extent of transnational rather than national professional regulation in the era of globalization” (3773). According to World Bank guidelines, Libya is classified as a developing country (Shareia 3773). Supposedly, companies intending to invest in its further development by hiring young specialists would consider this study a valuable source of information.
The information related to the topic will be achieved using the search engines and public scholarly data. Corporate websites will be used to gather statistics and practical recommendations. References to the book by Richard L. Daft will be made to demonstrate how leadership experience can influence the performance and job perception of graduates. According to the author, there are practices that enable specialists “to learn about their own leadership beliefs, values, competencies, and skills” (Daft 11). The mentioned practices were primarily developed to improve the self-insight of young workers.
The research can assist both inland and external Libyan firms in improving their organizational management strategies aimed at the utilization of fresh graduates’ potential. To overcome the occurring issues with inexperienced workers, home-based organizations need to opt for close cooperation with the international community of educators. Shareia insists that well-rounded graduates in accounting sphere can make a positive contribution to business and the overall life of society in Libya (3779). Newly introduced internship and partnership programs could stimulate students’ higher devotion to a chosen field and their faster integration into the work.
How Will Firms in Germany Integrate Inexperienced Graduates?
Regarding the relevance of the current study, the work, first of all, carries the value for German firms in the matters of efficient human resource management. Secondly, it unveils the advantages of hiring young specialists. While being the largest economy in the EU, and the foothold for numerous internationally renowned corporations, the country offers multiple opportunities for both students and graduates (Shchegolev et al. 94). The existing German legislation allows all candidates who are enrolled as students in a university located somewhere on the EU territory to apply for an internship program. The fact that a rising number of German firms hire inexperienced workers proves the significance of given research.
As to data collection tools used in this work, research will be based on informational sources retrieved from scholarly services, online documents, and interviews conducted by the scholars. Shchegolev et al. performed a content analysis of 12 companies based in Germany and Russia “to identify and compare employment opportunities for international graduates” (93). The analysis findings served as the source of valuable data for complex evaluation of the discussed issue.
The current study can help German companies to pick the right approach to the process of hiring, as well as to raise their competitiveness through the effective integration of young specialists. As Humburg points out, today’s graduates possess a strong command of technical and linguistic skills and can provide serious support for firms’ operation (88). Utilizing these skills during the internship period creates additional opportunities for employers to assess their interns as potential employees and use their contribution to companies’ advantage.
Blatter, Marc, et al. “Hiring Costs for Skilled Workers and the Supply of Firm-Provided Training.” Oxford Economic Papers, vol. 68, no. 1, 2015, pp. 238-257.
Cheong, Kee-Cheok, et al. “Employing the ‘Unemployable’: Employer Perceptions of Malaysian Graduates.” Studies in Higher Education, vol. 41, no. 12, 2016, pp. 2253-2270.
Daft, Richard L. The Leadership Experience. 6th ed., Cengage Learning, 2015.
Humburg, Martin. Skills and the Employability of University Graduates. Dissertation, Maastricht University, 2014.
Shareia, Bubaker F. “The Libyan Accounting Profession.” Globalization, vol. 8, no. 12, 2014, pp. 3773-3781.
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Shchegolev, Vladimir, et al. “Employment Opportunities and Barriers on the Russian and German Labor Market for International Graduates with Domestic Degrees.” Business Perspectives and Research, vol. 4, no. 2, 2016, pp. 93-110.