Employability and Professional future – The importance of Higher Education
On its latest report Rome Business School, focused the attention on Employability and Professional future and how these areas are influenced by Higher Education.
How the job market is changing and the concept of “employability” evolves facing Covid19, unemployment and automation. Rome Business School draw a map of the new professions and the most requested skills on the job market looking after the new professional dynamics and future trends of this ever-evolving field.
The “Employability and Professional Future” Report, carefully analyze the unemployment level in Italy, in Europe and abroad, to then focus on the skills and professional profiles that are expected to be the most requested on the job market during Covid – 19. A scenario that ask to professionals to adapt and evolve and this evolution can be supported by higher education paths to develop new skills and guarantee optimal, long-lasting job positions with broad growth prospects.
The research opens our eyes, showing us a picture of the labor market aimed at new challenges and important opportunities
In the early 2020, Italy has seen a large amount of employment coming less, especially for young people and women resulting in up to 5 young people that completely give up finding work. School dropout is also growing: every year, high school loses between 120 thousand and 215 thousand units and about the 25% of young people drop out. From 1995 to today, every year the Italian High School has “lost” a number of students ranging between 215,000 and 120,000 units. By 2025, automation will involve 85 million new jobs in 15 sectors and 26 economies, it could erase 15% of existing profiles, bringing up new opportunities and 97 million new jobs in the care economy, AI and content creation.
In the next 15 to 20 years, around 14% of the existing jobs could disappear due to automation processes and another 32% could change drastically. Is also for these reasons, that over 80% of business executives are accelerating plans to digitalize work processes and implementing new technologies. 50% of employers expect to increase the levels of automation of some roles within their companies.
To all of this follows that 40% of the skills of the average worker will have to be updated to meet the demands of the new market. The role of post-graduate training and investment in high-content training models, focused on soft skills, are decisive. Despite datas confirming the effectiveness of a university degree to increase the number of job opportunities, companies will increasingly require specialized skills, often obtainable only through a postgraduate degree. In fact, one year after obtaining a Master title, the overall employment rate is 88.6%. From the latest Employment Report of Rome Business School we found that 40% of the students found a job even before finishing their educational path.
The higher is the level of knowledge of young talents, the greater are the job opportunities with also better salary conditions, especially in relation to postgraduate and Master’s studies. For this reason Rome Business School master as well the resources considered fundamental by companies especially in the context of new professions, those in which wage growth is more consistent, and cannot be replaced by machines. Among these is possible to find: Critical Thinking skills, Problem Solving, Self- Management skills, Active Learning, Stress Management and flexibility.
In Italy, in the coming decades it will become decisive to adopt a so-called T-shaped training system. Based on a deep and solid vertical line that defines the professionalism of the executives and another higher horizontal line that allows people to work in different roles and contexts, merging the two essential concepts of multidisciplinarity and multiculturalism.
“Higher education training and specifically Business Schools, play a key role in identifying the needs of the world of work and in providing educational support linked to the demand for skills that comes from the business environment – comments Valerio Mancini director of the Rome Business School Research Center – Aiming on high-profile and specialized training such as that offered by a Business School is the best investment you can make for your future. As shown by the data emerging from our “Employment Report”, 85% of our students find an employment three months after their graduation and record a salary increase of 121% compared to the Pre-Master average. In our case, the winning element is the emphasis on the transversal development of technical-specific skills and Soft Skills together with the formation of a mindset suitable for operating in multicultural contexts due to the strong international characterization of our network.”
The research has been coordinated by Valerio Mancini, director of the Rome Business School Research Center.