Employment opportunities are always a concern in most parts of the world. Corporations that need workers, employees who need jobs, and governments who want to ensure their residents have the jobs they need, as well as enough skilled workers to fill the available job vacancies in the region.

A thriving workforce is crucial for a successful economy. For this to happen, there needs to be work opportunities for everyone that pay decent wages, offer social justice, allow financial stability, so that all areas of the world can build a prosperous future for their workforce.

In an effort to tackle these important unemployment issues, the International Labor Office (ILO) is working with governments, employers and employees of 187 member states to develop policies, devise labor standards and create programs to encourage and promote fair, decent work opportunities for everyone around the world.

 

Global employment trends 

When looking for information and statistics about the labor market and employment status of an area, the unemployment rate is often used as the standard measure and is referred to by everyone from the government to members of the media. The unemployment rate of a region defines the labor market and gives insight as to how well a local economy is doing in their efforts to generate employment opportunities for those people who want to work and who are actively seeking employment.

Currently, around 200 million people in the world are unemployed. Sadly, 165 million of them do not have access to employment that will sustain them. In addition, 120 million people have either ceased looking for employment opportunities or do not have access to the labor market. This is especially true for emerging countries.

Unfortunately, though, the trend of workplace employment practices that include discrimination on the basis of gender, age and geographical location is steadily climbing.

 

Global crisis: the unemployment status of our young workers

Today, the number of unemployed young workers is staggering, and it remains a top priority and global concern. With more than 64 million unemployed young workers in the world and around 15 million youth living in poverty, it is rightly acknowledged as serious challenge for many regions of the world.

Worse, yet, about 1 in 5 youths are either not working, have no education, or have no special skills or training to become employable in a decent career or trade. This is a serious concern and should be a top priority.

In fact, according to ILO’s Director General, Guy Ryder, “opening up opportunities for young people is a priority on the policy agenda in all regions of the world…”

 

Key labor market issues around the world

According to the annual World Employment and Social Outlook, there are several key labor market issues that are affecting unemployment statistics all over the world. Here are the top five issues.

  1. Underutilization of labor
  2. Working poverty
  3. Income inequality
  4. Labor income share
  5. Factors that exclude people from decent work

In addition, the unemployment and labor crisis has been made increasingly worse with the onset of COVID-19 across the world. It is estimated that employment growth will not see a sufficient increase to make up for the deficit the pandemic caused until 2023.

 

Labor market drives economic trends

Investments are typically dependent on labor market statistics and information on current economic trending patterns and emerging markets. The economy of a region depends so greatly on these numbers that it should serve as a guide for local and national education and training policies to build a strong workforce and economy.

A strong, inclusive and integrated environment where workplace skills and jobs are created should be a priority for everyone. Long term plans for increasing job skills and training/education strategies should be implemented for growth of the area’s economy. No matter where you live; the future depends on the success of our educational programs.

 

Education is always a great investment

The success of any country is directly correlated to the quantity and quality of their workforce. Research indicates that the more education, productive and skilled a workforce is, the better economic growth and success it is rewarded with. This is why education that provides our youth with competitive workplace skills is so crucial for their future as well as the future of their country.

According to unemployment trend research studies, there is a lack of qualified workers to fill the employment needs of both the private and public sectors in most countries. This makes it especially important to have the goal of focusing on opportunities for young people to develop skills for existing jobs as well as future opportunities. This is the perfect solution to ensure that the necessary skills to fill jobs in each region will have enough qualified people to cover the needs of the local labor market.

 

Things to consider when establishing a private school

When establishing a school to help solve your region’s unemployment issues, it is important to design a curriculum that prepares students for a technology-filled future that has a variety of opportunities. Teaching the youth of your country and offering opportunities combined with technological innovation is crucial for the success of future generations.

Here are five things to consider when establishing a private school:

  • Mission statement - Begin with a solid mission statement that explains exactly why your school was founded, as well as its core values and future goals. This public declaration will let others know why the school was created as well as its commitments to the students and community. It also describes the school’s intentions for the future and long-term objectives.
  • Education model – Since there are a variety of different models of education available for your school, it is important to clearly define this for students. It is also acceptable to use a combination of these models to create an environment where student will have interest and succeed.
  • Models of education for private schools
    • Science Technology, Engineering and Mathematics - Often referred to as STEM classes, this model is present in most mainstream curriculum
    • Project-based learning (PBL) - Students actively engage in real-world situations and meaningful projects for experience in their desired field of interest.
    • Inquiry-based learning - This model of learning is stimulated by inquiry and a focus on students’ needs. This self-directed type of learning offers an active approach that rewards students with research skills that will be useful throughout their education and future career.
    • Interdisciplinary education – This model uses a set of methods where two or more disciplines are used in the learning process. This offers students interactions that enhance the goals of each model.
    • Modern approaches  In addition, new model approaches include freedom-based learning, social constructivism and critical pedagogy to name a few.
  • Student assessments - Assessments are used to evaluate and identify the learning process as well as give students exposure and practice of the material/concepts of the course to prepare them for cumulative assessments and performance evaluations.

Types of educational assessments include:

    • Criterion-referenced assessment
    • Summative assessment
    • Diagnostic assessment
    • Formative assessment
    • Norm-referenced assessment
    • Interim assessment

Integrate technology into today’s  curriculum

Our technology-driven world today requires integration of EdTech, which gives knowledge and skills in this valuable growing field. We live in a technology-dependent world where we depend on our electronic devices on a daily basis.

Here are some new and popular transformative EdTech innovations for educators to consider when undergoing digital transformation:

  • Gamification – This program of study teaches critical thinking via fun and challenging assignments like solving puzzles.
  • VR technologyGives students the opportunity to design and embark on virtual tours anywhere in the world via an immersive 360-degree environment.
  • Digital interactive whiteboards - Digital whiteboards that are designed especially for classrooms provide student interactions, sharing and rich content creation which grabs their attention and keeps interest.
  • Feature innovative work skills for future jobsThe ultimate goal of getting a good education is to be able to secure a good job for a successful career. A curriculum with diverse opportunities will allow students to be prepared for opportunities in modern, growing technologies.
  • Campus and classroom design - From seating arrangements to collaboration spaces, it is imperative that the school’s space be designed to best serve students and faculty. Also consider innovations like digital whiteboards, electronic student ID cards, automated doors and user-friendly desks.

Benefits of innovative schools and education in your region

Education can profoundly change lives no matter where you live. Its advantages to local communities are substantial since it delivers many rewards to students as well as the local economy. Schools and opportunities to learn enhance the lives of students and their local communities. For instance, women that are educated have fewer and healthier children, as well as lower mortality rates during childbirth. For boys, for each year of education an adolescent boy receives, his chances of becoming a statistic of violent crime decreases by 20 percent. Creating new schools improves access, quality and relevance for workers in the community, and offers a greater resource for a successful workforce and economy.

Governments as well as the private sector, including investors and policymakers, should be open to new opportunities to establish any type of educational programs that benefit their citizens and youth.

The future of the workforce of a region should realistically include both public and private services for success. Implementing government programs that seek support from partnerships with organizations in the private sector can establish substantial frameworks to help regulate and focus on equity and the needs of the community.

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Governments and private education

Instead of ignoring efforts and contributions to the local education system, governments should strive to engage with private education to maximize its contribution to the education system as a steward, enabler or partner.

  • Stewards - Streamline education governance, improve transparency, create/enforce quality standards, and establish frameworks for education and programs.
  • Enablers - Influence licensing, operations, streamline processes, facilitate expansion within and between countries, provide incentives for private operators and improve finance availability.
  • Partners - Expand access, improve the quality of education, enhance school funding and manage education facilities

Since there are challenges to investing in the education sector, those who choose to pursue this venture are offered different types of investment opportunities that are based on potential risks and the expectation of return on investment. Investor options include early-stage commercial, impact, commercial and strategic, and donor/foundations.

Education for our youth is the key to a successful future

No matter where you live in the world, the economy, environment and local culture are all heavily influenced by the positive results of an educated community. Starting a school can prepare young workers for a bright future with the necessary skills for their own personal success as well as the prosperity of the region.

 
Written by

Director Business Development at EHL Advisory Services

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Case Study

Invest in Education: How to start a school to address Rwanda’s growing need for skilled hospitality & tourism professionals?

RDB saw the development of the country's hospitality education portfolio as a priority to answer the shortage of high-quality hospitality talents with operational and managerial competencies.