Search results

1 – 10 of over 1000
Book part
Publication date: 11 May 2017

Rolf van der Velden and Dieter Verhaest

The explicit assumption in most literature on educational and skill mismatches is that these mismatches are inherently costly for workers. However, the results in the literature…

Abstract

The explicit assumption in most literature on educational and skill mismatches is that these mismatches are inherently costly for workers. However, the results in the literature on the effects of underqualification or underskilling on wages and job satisfaction only partly support this hypothesis. Rather than assuming that both skill surpluses and skill deficits are inherently costly for workers, we interpret these mixed findings by taking a learning perspective on skill mismatches. Following the theory of Vygotski on the so-called “zone of proximal development,” we expect that workers who start their job with a small skill deficit, show more skill growth than workers who start in a matching job or workers with a more severe skill deficit. We test this hypothesis using the Cedefop European skills and jobs survey (ESJS) and the results confirm these expectations. Workers learn more from job tasks that are more demanding than if they would work in a job that perfectly matches their initial skill level and this skill growth is largest for those who start with a small skill deficit. The learning opportunities are worst when workers start in a job for which they have a skill surplus. This is reflected in the type of learning activities that workers take up. Workers with a small skill deficit are more often engaged in informal learning activities. Finally, workers who started with a small skill deficit are no less satisfied with their job than workers who started in a well-matched job. We conclude that a skill match is good for workers, but a small skill deficit is even better. This puts some responsibility on employers to keep job tasks and responsibilities at a challenging level for their employees.

Details

Skill Mismatch in Labor Markets
Type: Book
ISBN: 978-1-78714-377-7

Keywords

Book part
Publication date: 18 October 2011

Jørgen Goul Andersen

This chapter analyses the recovery of the Danish economy from the crisis of the 1980s, its elevation to a bit of an ‘economic miracle’ or at least an ‘employment miracle’ from…

Abstract

This chapter analyses the recovery of the Danish economy from the crisis of the 1980s, its elevation to a bit of an ‘economic miracle’ or at least an ‘employment miracle’ from 1995 to 2005 and its subsequent decline during the financial crisis, which revealed more long-standing problems that precluded a quick recovery. The solution of Denmark's structural balance of payment problems in the early 1990s paved the way for long-term prosperity, and Denmark managed the challenges of globalisation and deindustrialisation almost without social costs. However, an accumulation of short-term policy failures and credit liberalisation facilitated a credit and housing bubble, a consumption-driven boom and declining competitiveness. In broad terms, the explanation is political; this includes not only vote- and office-seeking strategies of the incumbent government but also ideational factors such as agenda setting of economic policy. Somewhat unnoticed – partly because of preoccupation with long-term challenges of ageing and shortage of labour – productivity and economic growth rates had slowed down over several years. The Danish decline in GDP 2008–2009 was larger than in the 1930s, and after the bubble burst, there were few drivers of economic growth. Households consolidated and were reluctant to consume; public consumption had to be cut as well; exports increased rather slowly; and in this climate, there was little room for private investments. Financially, the Danish economy remained healthy, though. Current accounts revealed record-high surpluses after the financial crisis; state debt remained moderate, and if one were to include the enormous retained taxes in private pension funds, net state debt would de facto be positive. Still, around 2010–2011 there were few short-term drivers of economic growth, and rather unexpectedly, it turned out that unemployment problems were likely to prevail for several years.

Details

The Nordic Varieties of Capitalism
Type: Book
ISBN: 978-0-85724-778-0

Abstract

Details

Histories of Economic Thought
Type: Book
ISBN: 978-0-76230-997-9

Book part
Publication date: 25 March 2021

Léon Consearo

Purpose: This chapter aims to analyse the current literature on the supply and demand for skills in the UK labour market to identify key trends and themes around skill mismatch…

Abstract

Purpose: This chapter aims to analyse the current literature on the supply and demand for skills in the UK labour market to identify key trends and themes around skill mismatch, identify gaps and areas for future research.

Method: Selected articles were analysed to identify key themes and trends in the existing literature.

Findings: The overall finding is that the UK labour market suffers from various forms of widespread skill mismatch, but most particularly in the form of skill shortage. The areas with the most notable skill shortage highlighted in the literature include basic literacy, numeracy and digital; employability including leadership and management; STEM and health-related areas; teaching and training and a range of higher-level skills (including leadership and management, digital and creative, and industry-specific skills in STEM and health-related sectors, financial and business services, technology media and telecommunications, as well as teaching and training). Skill mismatch in the form of skill shortages in these areas is projected to worsen considerably by 2030, with some areas expected to suffer acute shortages by this time. Continued improvements to the education system will help to ensure the pipeline of future workers. However, changes to the education system are unlikely to impact on 80% of the future 2030 workforce who are already working and active in the UK labour market.

Originality/value of paper: The chapter provides a review of key literature in the field and aggregates key findings, so a wider picture of the extent and nature of the UK's skill mismatch challenge can be appreciated.

Content available
Book part
Publication date: 11 May 2017

Abstract

Details

Skill Mismatch in Labor Markets
Type: Book
ISBN: 978-1-78714-377-7

Content available
Book part
Publication date: 11 May 2017

Abstract

Details

Skill Mismatch in Labor Markets
Type: Book
ISBN: 978-1-78714-377-7

Book part
Publication date: 30 September 2021

Albert Wöcke and Helena Barnard

The South African government actively intervenes in the labor market in the pursuit of redress of social injustice. These interventions are complicated by economics and have a…

Abstract

The South African government actively intervenes in the labor market in the pursuit of redress of social injustice. These interventions are complicated by economics and have a direct effect on intentions to turnover. In addition, South Africa has a dual labor market, with a high unemployment rate among lesser skilled workers, and a skills shortage at the top of the labor market.

There are four clear eras in the labor market of post-Apartheid South Africa. The first era was after democratic elections in 1994, when the government focused on nation-building with the introduction of indigenization programs. The second era was characterized by economic prosperity and an intensification of indigenization programs. The third era was characterized by rampant state corruption and increased regulatory uncertainty. During this period, the economy stagnated and unemployment increased. Firms restructured and lower-level workers were retrenched and higher-level skilled workers left the country. In 2018, a new president undertook to grow the South African economy and attract foreign direct investment. Despite these efforts, there was a spike in South Africans emigrating, increasing the turnover of highly skilled South Africans of all races.

Economics and politics create both push and pull factors and many unintended consequences, and the dual labor market reacts differently to labor markets than in developed economies. The lower-skilled employees lose their jobs as the economy contracts, while highly skilled jobs remain difficult to fill. However, skilled professionals nonetheless feel increasingly uncertain about their future employability.

Details

Global Talent Retention: Understanding Employee Turnover Around the World
Type: Book
ISBN: 978-1-83909-293-0

Keywords

Book part
Publication date: 20 March 2024

Manju Dahiya, Ritu Singh and Mallik Arjun Ahluwalia

Purpose: This chapter explores the changing global dynamics of employability and the current skill gaps among college students. Employability is defined as the measure of how…

Abstract

Purpose: This chapter explores the changing global dynamics of employability and the current skill gaps among college students. Employability is defined as the measure of how desirable an individual is in the workforce, that is, their skills and knowledge. This chapter is centred on the students’ existing skills, missing skills, and the skill requirements of different industries.

Methodology: For this study, both primary and secondary data have been collected. Case studies have been used to analyse the skill gaps among students and industry requirements. Primary data has been collected from Indian students and case studies from other countries.

Findings: After conducting primary surveys and analysing case studies, we were able to conclude that there are serious skill gaps among students – especially in industries related to new emerging technologies. Educational institutes are not keeping pace with technological changes, and, in some cases, are not taking care of students’ interests. This is a serious problem for unemployed youth around the world.

Practical Implications: This chapter will help design the curriculum, addressing core issues of skill shortages in the labour market in developing and underdeveloped countries, decreasing the labour shortage and increasing employment, and helping countries’ national income.

Significance: This study is important as it addresses the issue of unemployment by providing a clear understanding of the present needs of industries. Educational institutions and the government will be able to design the best curriculum and education policies to provide the youth with all the necessary skills to help them fulfil the needs of industries.

Details

Contemporary Challenges in Social Science Management: Skills Gaps and Shortages in the Labour Market
Type: Book
ISBN: 978-1-83753-165-3

Keywords

Book part
Publication date: 30 September 2019

Mariya Karaivanova and Kristine Klein

The period of transition to democracy in which Generation Z members in Bulgaria grew up was characterised by profound changes in the economic and social system of the country…

Abstract

The period of transition to democracy in which Generation Z members in Bulgaria grew up was characterised by profound changes in the economic and social system of the country, with frequent episodes of chaos and instability resulting in a long-term demographic decline. At the same time, the years of their adolescence have been marked by globalisation processes and the rapid development of digital technologies opening countless opportunities for work, study and travel to this group of young people.

Although research on Generation Z in Bulgaria is scarce, in this chapter, we have attempted to draw a portrait of the typical representative of the young generation based on the results of a couple of empirical surveys. Decreasing social orientation, less focus on sustaining interpersonal relationships and lower self-confidence and initiative are among our most remarkable observations making this generation of young people rather different than previous ones. Furthermore, Generation Z members were found to be quite demanding at work requiring stress-free working conditions, good work–life balance, opportunities for competency development and adequate pay from employers. This certainly creates a serious challenge for Bulgarian employers who might have to change their standard human resource practices in order to attract and retain the potential of this new group of employees. Generation Z members could be a source of innovation, meaningfulness and flexibility for the Bulgarian labour market and because of that they certainly need to be studied in more detail.

Details

Generations Z in Europe
Type: Book
ISBN: 978-1-78973-491-1

Keywords

Content available
Book part
Publication date: 17 November 2021

Sophie Yarker

Abstract

Details

Creating Spaces for an Ageing Society
Type: Book
ISBN: 978-1-83982-739-6

1 – 10 of over 1000