Why are education institutions failing students today?

The rising rate of unemployment among fresh college graduates is an upsetting trend. Research has been done on the implications of unemployment even among those educated and a bleak future is predicted. 

Even among the autonomous universities in Singapore, a large pool of graduates, mainly in humanities or some science courses such as chemistry, remained unemployed six months after their finals – only 50-60 percent found full-time jobs in 2018. 

The same landmark survey reports that a greater proportion of graduates were engaged in either freelance, part-time or temporary jobs – a sign that the gig economy in Singapore is gaining traction and that the employment paradigm has changed or maybe the particular individuals have the needed skills for the marketplace.

It all goes back to the correlation between supply and demand in the job market, and there are two questions that are relevant here: 

  1. Is the education environment producing the talent needed to do the jobs of today?
  2. Will the degree you sign up for today still be relevant when you graduate?

The concepts of centralization vs decentralization in education are an important starting point when considering the best outcome for the employer-employee relationship as they will ultimately contribute to the results produced by the education system.

Let’s look at the concepts in the context of employer-employee relation

Centralization is a system where the administrative authority for education is controlled by a central body, and not by the community. 

This central body has complete power over all resources: money, information, people, marketing, education courses, and technology. It decides the content of the curriculum, controls the budget on future educational direction, is responsible for the employment of key teaching personnel, and deciding education policies.

Decentralization refers to the extent to which the education objective has been passed down to the wider community.

Factors affecting the employee-employer relationship

  1. It is very difficult for large and complex organizations to match an employee to a position on the first go, and internship programs are costly and time-consuming, as well as being extremely slow to respond to the companies needs.
  2. Centralization does not fit the current trends of a shared economy, empowerment, and a leaner workforce. Decentralization provides companies with greater autonomy, allowing scope for creativity, resourcefulness, and a better employer-employee fit
  3. Decentralization provides for employers to become involved in the decision-making and education process right from the recruiting of a student (future employees) through to the successful integration in the company. This allows for greater flexibility and makes it possible for better decisions to be made with regard to the employer-employee match.
  4. When individual companies are given the opportunity to get involved in the recruitment, training, and schooling of future employees, a higher degree of moral commitment to the company’s goals and objectives can be fostered from the start, integrating a student into the company’s culture, or rather finding an employer-employee culture match early on. 
  5. This can save waste resources (time and money) and milestones can be implemented for a number of students at the same time, and a sifting and screening process applied at each stage of the relationship, allowing the employer to find the best match.
  6. Decentralization can also promote an environment of competitiveness a group of potential employees. Everyone has towards self-actualization, and if an employer-employee match is not good, the employer or student can change direction early on and not waste time. This would encourage various means for achieving professional growth while maximizing their potentials.
  7. Decentralization ensures the establishment of accountability and evaluation mechanisms. This in itself would ensure a better employer-employee fit.

Blockchain has a vital role to play in the streamlining of a great outcome between employers and employees and will help in creating a happier, healthier workforce.

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