Assessment 4 - Professional Practice Assignment PDF

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ASSESSMENT 4: FORMAL REPORT ON CURRENT GRADUATE CAPABILITIES SOUGHT BY EMPLOYERS Professional Practices

Helen Tran A1785072

Graduate Employment Adelaide, SA 5005 http://www.adelaide.edu.au/ 7 June 2019 Mr Tom Hughes Student Representative The University of Adelaide South Australia 5005

Dear Mr Hughes, Attached below is the report directed by Graduate Employment as requested (7 June 2019) on the current graduate capabilities sought by employers and recommended strategies to allow for students to become more employable. This report outlines an analysis of the current contemporary needs which employers seek from business graduates and delves into detail the specific attributes such as teamwork and communication skills students are able to develop throughout their commerce degree. It also summarises the importance of engaging in work-based learning opportunities as a valuable experience to gain these skills and provide a source of evident document. Additionally, I have included a detailed discussion of current attributes sought by employers to enable graduates to adapt with the dynamic contemporary business environment. My recommendations for current graduates to develop these skills and become more employable is to take advantage of the networking opportunities offered during University and to join any form of clubs through the Adelaide University Union. This will allow for students to interact with one another and gain a competitive advantage which sets themselves apart from other graduates in this fastchanging business environment. Thank you for the opportunity to prepare and analyse this report. Please do not hesitate to contact me or other members if you have any queries or would like to further discuss any aspect regarding this report. Yours sincerely,

Helen Tran Head of Graduate Employment

Analysis of current graduate capabilities sought by employers

Prepared for

Tom Hughes Student Representative

Prepared by Graduate Employment Head of Graduate Employment

7 June 2019 i

Table of Contents Executive Summary

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1.0 Introduction

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1.1 Purpose, Scope and Limitations 1.2 Sources and Methods

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2.0 Analysis of current graduate capabilities sought by employers 3.0 Conclusion 5 4.0 Recommendations 5 5.0 Reference List

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Executive Summary Employment is becoming a crucial element among current graduates in order to have a successful outcome within their career pathway. Employers specifically within the business industry are now seeking proficient communication and teamwork skills as well as other capabilities and attributes from current graduates. The organisation’s strategic intent is to allow for students to develop their skills and capabilities during University to become more employable. The number of graduate employments within this field has been altered due to the advancements of technology and economic climate. The problem for current graduates is the incapability and unawareness of the ever-changing contemporary business environment. Current graduates may not have the appropriate experience and exposure to apply their accounting principles into real-world practice through the current accounting programs offered during University. This has permitted graduates to gain the skills they need from undertaking an unsatisfactory degree. Graduate Employments’ recommendation is for students to be involved in any form of club such as becoming a CA student representative where students show a sense of initiative and leadership. Students may also consider attending multiple networking events to enable students to develop their communication skills and build imperative connections. Communication and teamwork are among the top skills employers are seeking in the workforce and should therefore be implemented by a student throughout their commerce degree. Our recommendations should be instigated with an enthusiastic approach and builds the foundations of a great learning experience for current graduates. Graduate Employment will support this stage by providing the appropriate tools and information to graduates in order to become more employable and to gain a competitive advantage within the workforce.

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Current graduate capabilities sought by employers 1.0 Introduction With the advancements of technology and the wider economic climate, current graduates need to have the ability to adapt to this dynamic environment as well as gaining skills and attributes to provide them with a competitive advantage. Presently, employers are seeking experience and specific skills relating to the commerce degree from current graduates. It is crucial that these set of skills and attributes match an industry’s requirements and cultural fit as these are the skills that normally take time to build as part of one’s self. This report will first highlight the key purpose of graduate employability with particular reference to understanding what graduate employability is as well as exploring whether Universities address the skills needed for employers within the workforce. This report will also draw upon sources and methods of research to explore the views of groups representing employers, by examining what promotes graduate employability as well as their own experiences. Thirdly, this report will analyse the particular skills and capabilities employers are seeking relative to the economic climate and changes in technology. Finally, this report will conclude with a summary of key findings and alternative recommendations on the development and implementation of these skills and attributes upon graduating.

1.1 Purpose, Scope and Limitations According to Yorke, graduate employability is “a set of achievements - skills, understandings and personal attributes - that makes graduates more likely to gain employment and be successful in their chosen occupations” (Yorke, 2006, p. 8). The main purpose of this report is to examine and analyse the current attributes that employers are seeking in graduates. It is aimed specifically for students to build upon their skills and attributes based on these findings.

1.2 Sources and Methods Provision for the analysis of this report has been conducted by the Australian Government, higher institutions of education, journal articles and work from researcher Dr Geoffrey Scott to gather information on the contemporary needs of employers of business graduates.

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2.0Analysis of current graduate capability sought by employers Employability skills support a student’s ability to perform effectively and are transferable between workplaces. In today’s economy, employability skills are at a premium and these abilities enable students to adapt to changes in technology and functional changes in a workplace (Dwyer et al, 2016). Gunn et al (2010) states that “Universities should consider students’ employment needs including generic skills and abilities needed in the workplace” however, there is a concern among academics that including these employability skills within the teaching will lower academic standards objectives. Nonetheless, this can be addressed by identifying the issue in terms of exploring how academics can advise their subject to promote employability skills and attributes rather than extenuate the academic content (Coopers & Lybrand, 1998; Harvey, 2000). Graduates need to value the extra-curricular experiences at University and work experience to add to their CVs and help secure employment. Employers noted that by participating in networking events and joining a club at University, will significantly boost the graduate’s communication skills.

According to Deloitte, communication skills are the most sought-after skill by employers ranking the top of the percentile range of 71%.

(Deloitte, 2017) Additionally, the involvement of accredited programs and awards such as the Adelaide Graduate Award are highly sought after by employers. Not only, will this motivate students to be more involved with work-based learning opportunities but also students are able to document their experiences in a source document. There are several networking events students are encouraged to attend such as the CA ANZ Employment Evening where students have the opportunity to network with different staff members from various industries relating to their commerce degree. v

The five factors below highlight the possibility for a methodical approach to the development of effective employability skills. The first step in this cycle is to identify and develop specific skills and knowledge relative to the commerce degree. Secondly, it is important for a student to develop self-awareness in order to explore possible future pathways. Similarly, thirdly, is to also develop a knowledgeable awareness of possible career pathways that will allow for graduates to find or create opportunities to gain experience. The fourth step is to communicate with others internally and externally of study or work in order to develop teamwork and gain connections. Lastly, it is crucial to apply accounting theory or principle to real-world business so that graduates are able to establish personal goals and ways to achieve these goals (Dr Geoffrey Scott, 2017). As a student adjusting to this model, it is normal to manoeuvre in between each step, so that students are able to engage with one specific element or more than one element. However, it is crucial for graduates to participate in the development process in the early stage so that the latter steps will become more engaging and enjoyable.

(Curtin University, 2017)

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3.0 Conclusion This research was essentially drawing upon key skills and capabilities sought by employers for current graduates. While there are discrepancies in the classification of employability, there is sufficient information on what specific attributes graduates must accomplish during their degree in order to become more employable. Employers in the contemporary business environment have high expectation for current graduates to demonstrate a variety of skills and attributes such as teamwork and communication in order to progress in their career and therefore facilitate the success of their chosen organisation. Above all, the key findings highlight the importance of work experience, placements or internships as an effective way of enabling current graduates the appropriate employment skills, knowledge and awareness of employer culture. There are issues regarding the employability measures within higher education institutions that lead to anguish from current graduates not being able to meet their needs through the courses offered. However, graduates are still able to make an impact within their studies by forming networks and taking the opportunities of internships to allow a long-term benefit to their employability (Lowden, 2011).

4.0 Recommendations It is highly recommended that the utilisation of careers services can be amplified as a resource tool to promote employability and work-based learning opportunities for current graduates throughout their degree. Along with this, higher education institutions should implement a strategic level of planning to allow for practical guidance within the commerce course framework degree. The design of the commerce degree should associate with the needs of the contemporary business environment. Additionally, employers should be encouraged to promote and expand work-based opportunities that is accessible for current graduates on a wider scale. It is proven that employers highly value the participation of accredited programs, as it allows for these experiences and outcomes to be documented as a source of evidence to present by current graduates.

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5.0 References Adelaide.edu.au. (2019). Graduate Attributes | Adelaide Graduate Centre. [online] Available at: https://www.adelaide.edu.au/graduatecentre/handbook/10-graduate-attributes/

Bennett, D., Richardson. S., and MacKinnon, P., (2016). Enacting strategies for graduate employability: How universities can best support students to develop generic skill Part A. Canberra, ACT: Australian Government, Office for Learning and Teaching, Department of Education and Training (http://www.olt.gov.au/project-how-universities-can-best-support-students-developgeneric-skills-enactingstrategies-gradua) Coopers & Lybrand. (1998) Skills development in Higher Education. Report for CVCP/DfEE/ HEQE, November, London: Committee of ViceChancellors and Principals of the universities of the UK (CVCP). Dwyer J, Archee R, Gurney M, Mohan T and Hamilton C (2016) PROF 2000 Professional Practices 11 1st edition, Cengage Melbourne. Gunn, V. Bell, S and Kafmann. K (2010) Thinking strategically about employability and graduate attributes: Universities and enhancing learning for beyond university. Enhancement themes. QAA. Available at http://www.enhancementthemes.ac.uk/ documents/G21C/Employability_230210.pdf Lowden, K., Hall, S., Elliot, D. and Lewin, J. (2011). Employers' perceptions of the employability skills of new graduates. [ebook] Available at: https://www.educationandemployers.org/wpcontent/uploads/2014/06/employability_skills_as_pdf_-_final_online_version.pdf [Accessed 6 Jun. 2019].

Scott, G. (2016). Transforming graduate capabilities & achievement standards for a sustainable future. Key insights from a 2014-16 Office for Learning and Teaching National Senior Teaching Fellowship. [online] Available at: http://flipcurric.edu.au/sites/flipcurric/media/107.pdf Yorke, M. (2006). Employability in higher education: What it is - what it is not. In M. Yorke (Ed.), Learning and employability Series 1. London: The Higher Education Academy.

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