ASSESSMENT

Employability and Career Planning

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 Contents
PART A...........................................................................................................................................3

EXECUTIVE SUMMARY.............................................................................................................3

INTRODUCTION...........................................................................................................................3

CHALLENGES FOR THE GRADUATE LABOR FORCE......................................................5

FUTURE DEVELOPMENTS.....................................................................................................5

Graduate Labor Market Since The Start Of The Coronavirus Crisis..........................................7

INDUSTRY.................................................................................................................................9

CONCLUSION............................................................................................................................9

PART B...........................................................................................................................................9

ONLINE BUSINESS.......................................................................................................................9

BENEFITS.....................................................................................................................................10

WEAKNESSES.............................................................................................................................11

CREDIBILITY..........................................................................................................................11

CUSTOMER SERVICE............................................................................................................11

TRENDS....................................................................................................................................11

SATURATION..........................................................................................................................11

TIME ALLOCATION...............................................................................................................12

CONCLUSION..............................................................................................................................12

References......................................................................................................................................13

APPENDIX....................................................................................................................................14

APPENDIX 1.............................................................................................................................14

APPENDIX 2.............................................................................................................................14

Figure 1............................................................................................................................................6
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Figure 2............................................................................................................................................7

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 PART A

EXECUTIVE SUMMARY
The COVID-19 health crisis has turned into a global economic crisis, putting at risk the health,
jobs, and incomes of millions of people around the world. Coronavirus, as suddenly as it came
out of nowhere it cast its root deep down and the aftereffects are still here. It collapsed the stable
economy of many developed countries. During the initial weeks and months of the COVID-19
crisis, countries moved rapidly towards creating a solution to provide unique was of emergency
support to keep households and companies crashing in debt, safeguarding jobs of people and
incomes, and prevent the economy from collapsing. In the coming months, as the peak of the
medical emergency pandemic becomes less intense and a little favorable to lift the lockdown
situation many countries increasingly turn to re-opening their economies, new policies were
needed and they will need to maintain this quick speed, modifying and adjusting the composition
and characteristics of support packages, targeting support where it is needed most, and
encouraging a return to work where possible[CITATION The2 \l 1033 ]. While doing that, it will
be important to start on the task of building back better to address the deep-rooted labor market
fragilities and structural inequalities that the pandemic has exposed. This covid crisis faced by
many countries has still not yet been overcome by its after-effects and one of the effects is left in
the graduate labor market. In this alarming medical emergency, the demand and supply balance
has been disturbed which is the root cause for the disruption for the graduate labor market.
People have left their jobs due to not being paid, many companies went bankrupt, some are
drowned in debt that they still are unable to pay and many on the other hand resigned/laid off
some of their employees. People have been facing a lot of problems due to this economic shock
caused by Covid-19. In short, a large chunk of the population dropped out of their jobs and
workplaces.

INTRODUCTION
The economic downfall caused due to the COVID-19 pandemic has not fallen equally on all
shoulders. Many people with other resources such as employees with other information resources
have been the least bothered by this crisis. Job and income losses have been particularly severe

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for women and the newly graduated who lack experience. Youth who are still studying have
been hit hard by school closures, they fear they might not end up getting jobs and the closing
down of entry-level jobs in the graduate labor market which might be become the reason for their
lack of experience resulting in being neglected for job positions. High and persistent graduate
unemployment and underemployment in the aftermath of the global financial crisis showed that
once the youth will lose touch with the labor market, re-connecting them with good jobs can be
very hard due to lack of experience with long-lasting effects[ CITATION The2 \l 1033 ]. As the
pandemic is causing massive damage to the informal economy, the situation for the graduate
labor market is vulnerable.

“Thousands of young people are supposed to be entering the labor market from July and they
could be left without work and nothing to do while coronavirus is sorted out[ CITATION
Par21 \l 1033 ],” says Stephen Isherwood, chief executive of the ISE. “We need to make sure
that a whole generation isn’t lost[ CITATION Par21 \l 1033 ].”

James Turner, CEO of the Sutton Trust, says: “Internships are increasingly necessary for many
graduate jobs, and there is a risk that young people with professional connections may be able
to find work experience while other, openly-advertised, opportunities cease to
exist[ CITATION Par21 \l 1033 ].”

Official figures show graduate labor market has hit unemployment more than the previous five
years, with more than 200,000 under 25s out of work for more than six months. Employment is
also falling even as the number of people in work begins to rise for every other age group,
reflecting the cumulative impact of lockdowns and young adults especially those newly
graduates bearing the brunt of job cuts[ CITATION Par21 \l 1033 ].

Polly Hatcher, 23, studied history and is now applying for a master’s due to limited job
opportunities. “I feel a bit lost[ CITATION Abb20 \l 1033 ],” she says. “I had a plan and this
has thrown a spanner in the works[ CITATION Abb20 \l 1033 ].” Hatcher hopes further study
will make her a stronger candidate.

The students are often advised to go abroad or to continue their education. With options for the
people very limited due to pandemics, experts are predicting an uptake in postgraduate courses
over the next few years.

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A master can give students more skills in a competitive job market. Isherwood suggests “not to
look at further study as the easy safe option, since not all postgraduate degrees improve
employment prospects[ CITATION Abb20 \l 1033 ]”. Due to the Covid-19 pandemic, the
graduate labor market will face several challenges, but it will also provide opportunities for
Business School graduates to help rebuild the economy.

Coronavirus has made a quick and significant change to the UK's work market, including the
alumni work market. The pandemic contrastingly affects various areas, with the alumni work
market commonly less harmed and having expanded virtual working. Albeit enduring, the
alumni work market is as yet working essentially in another way. The drawn-out sway this will
have on financial patterns is dubious however with all the destruction it has openings for some
new business thoughts coming from Business School Graduates.

CHALLENGES FOR THE GRADUATE LABOR FORCE

One graduate recruiter said: “Firms are being realistic and most are putting recruitment on
hold. No one wants to offer an opportunity which might not be there in three
months[ CITATION Par21 \l 1033 ].”

The volume of vacancies as the measure is currently running at between 55- 65% of 2019
volumes, but this disguises considerable variation between industries[ CITATION Cha21 \l 1033
]. Only the health sector is currently operating around 2019 levels or if said that it is operating on
a large scale it would not be wrong, all other industries are below their 2019 averages. The
supply and demand chain has been affected a lot[ CITATION Cha21 \l 1033 ].

Many alumni selecting enterprises have scored better compared to their past midpoints. As a
rule, while as of now there have been moderately scarcely any employment misfortunes in these
areas[ CITATION Cha21 \l 1033 ]. Opportunities have been fairly discouraged, however still
better compared to average. All the more Small and Medium-Sized Enterprises (SMEs) work in
graduate selecting areas and SMEs have had a more troublesome 2020 than bigger organizations
because of a decreased ability to ingest shocks[ CITATION Cha21 \l 1033 ].

FUTURE DEVELOPMENTS
In the long term, the likely impact on the graduate labor market will be a declining creative
industry and the rise of virtual working[ CITATION Cha21 \l 1033 ]. It can be seen as an

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opportunity for business graduates. However, the recovery of the graduate labor market in the
UK may take longer than expected in 2021[ CITATION Cha21 \l 1033 ].

However, many organizations including the

 British Chambers of Commerce

 The World Economic Forum counsel

that skills shortages that were prevalent before the pandemic remain.

In the UK this implies that shortages of graduates in health, education, engineering, IT, social
care, and parts of business administrations have not decreased during a pandemic and will endure
into the recuperation abated during a pandemic and will persist into the recovery[ CITATION
Cha21 \l 1033 ].

The pandemic has had quite an impact on the UK graduate labor market and the consequences
will be suffered for years to come. The UK has a wide skill base and unique education system
which can help yet to overcome the situation the business graduate has the opportunity to come
up with unique ideas to support the downfall of the economy. Cooperation between the education
providers and job providers will be highly beneficial for all in this post-pandemic situation
[ CITATION Cha21 \l 1033 ].

the graduates are among the highest skilled workers with fresh minds that can come up with
unique ideas and they also play an important role end economy. This high level of skill and
unique ideas can promote innovation and growth Such that it is crucial in dealing with these
post-pandemic challenges. Graduates can handle more occupational and geographically mobile
jobs this factor can come in handy as their support for employment in a time of crisis. Skill
mismatch should be avoided because this can hamper their opportunity.

Graduates have specific skills related to their subject type (for example, engineering,
accountancy, psychology), as well as more general transferrable skills (writing, communication,
critical thinking). Because of these skills, graduates may have greater resilience during times of
economic crisis. Graduates may therefore be less likely to be unemployed in comparison with
those who do not have a degree[ CITATION Mar21 \l 1033 ].

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“In Quarter 3 (July to Sept) 2020, people aged 25 to 64 years without a degree accounted for
37% of the unemployment rate, followed by those without a degree aged 16 to 24 years (31%).
Comparatively, graduates aged 25 to 64 years and young graduates (aged 16 to 24 years)
accounted for 15% and 9% of the overall unemployment rate respectively. Individuals aged 25
years or over who hold a higher degree, accounted for 8%. These figures suggest that
graduates on average are less likely to experience unemployment than non-graduates.
Overall, 76% of unemployed individuals do not hold a graduate degree[ CITATION Mar21 \l
1033 ].”

Graduate Labor Market Since The Start Of The Coronavirus Crisis

Over 70% of graduates in employment are concentrated in the top three occupations

 managers
 directors
 associate professional
 technical occupations
 professional occupations

Their proportion in these occupations increased during the crisis, possibly because these
occupations have been able to expand more than the other lowlife employees working at the
front desk. Therefore employing more graduates is beneficial because they could more easily
relocate online[ CITATION Mar21 \l 1033 ].

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Figure 1

Over 60% of graduates who stayed in employment, were employed in high-skilled or upper-
middle-skilled occupations over the Quarter 1 2017 to Quarter 1 2020 period. During Quarter 2
and 3 of 2020. An increase in the proportion of graduates in high-skilled occupations was
observed, while there is a decrease in the middle-low- and low-skilled occupations[ CITATION
Mar21 \l 1033 ]. The proportion of graduates in the upper-middle-skilled occupations shows a
very small increase in Quarter 2 but, in Quarter 3, revert to the average over the
period[ CITATION Mar21 \l 1033 ].

High-skilled workers have been better able to continue working during the pandemic since 70%
of professional occupations were reported to be working from home. Meanwhile, only 5.4% of
machine operative professionals, a low-skilled occupation, worked from home in the reference
week.

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Figure 2

Graduates have brought general and transferable skills which allow them to work from home as
well as in a work environment which is beneficial in the COVID-19 crisis where distance is to be
maintained[ CITATION Mar21 \l 1033 ]. They have a better understanding and knowledge
required to work from home. Businesses can only flourish if they can adapt to new changes thus
it can be said that it has become a need for an organization to hire fresh business graduates that
can help them amid this crisis.

INDUSTRY
Graduate workers were better able to change occupations in the periods before and in the first
few months of the crisis, compared with workers in the total labor force in the UK[ CITATION
Mar21 \l 1033 ]. These occupational shifts may have been helped by their wider skill set. Given
the higher level of human capital, graduates may be in a stronger position to adjust to challenges
imposed by the pandemic in terms of retaining jobs and finding new employment opportunities;
however, these jobs may not be of the same quality and they may not fit their skill
profile[ CITATION Mar21 \l 1033 ].

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CONCLUSION
In a nutshell coronavirus effects in the graduate labor market have still not unfolded completely.
however, it can be said that graduate workers may be far better in the labor market for better
outcomes to diminish the economic crisis[ CITATION Mar21 \l 1033 ]. Hence it is a problem as
well as an opportunity for the graduate labor market to which they should adapt. the more unique
and creative ideas the more chances the organization or business has to outshine in this crisis.

PART B

ONLINE BUSINESS
As coronavirus emerged from nowhere it created a fear in people many saw downfall but among
those, I found the emerging virtual business outshines all the other businesses behind. after
graduation, I would like to start my very own virtual business because nobody knows when the
next wave of coronavirus may return leaving behind many jobless. Coronavirus has accelerated
business and many organizations to expand their e-commerce. I have seen people taking interest
in this virtual world. I would like to create my brand Because of the increased demand for online
shopping. It will provide customers with access to a significant variety of products from the
convenience and safety of their homes. It will enable me to run the business without any proper
office setup and less money to invest in it. it will allow me to run the business from home or any
place suitable for me.

BENEFITS
In my opinion, starting an online business that is your own Is cost-efficient as well as easy to
start. I am fond of website creation tools which play important role in online business. I like to
have freedom in work and for my online business is the best and easiest way to earn and gain the
freedom to work and implement your own unique set of ideas. social media is a great means of
connecting online businesses to the whole world. thus a person with an online business has more
benefits than someone who is running my business in a specific region. I can't connect to the
whole world and gain more customers being online rather than starting a business somewhere
where I live.

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Many famous businesses and brands started doing their business building an empire out of
nothing but a computer screen a domain name and a website from where no millions of people
connect online to buy their products. I'm an expert in building a business website and online
store so all I need is to spend some time gaining traffic and building a strong connection with an
audience to whom I want to sell my products or services. Due to this lockdown situation, online
shopping has become extremely popular among people which I've seen many small businesses
taking advantage of to create an empire out of scrap.

I want to create my products I can even hire people to work with me once my business flourishes
to help create products that will be valuable for the consumer all my target audience. This online
brand also allows me to promote other companies products as an affiliate marketing and I would
not have to spend any time or money in creating my products or services. I can simply
recommend the best products to my target audience and earn money through promoting the
product or service that can be good for my target audience.

One of the best parts that I love about affiliate marketing is that I don't even have to ship any
products or stress about the supply as I have virtually an unlimited supply since everything is
digital and I'm just promoting products and services of another brand and earning good money.
this will allow me to reach a much larger audience than if I run a traditional business that will
have reached only specific people in a specific area. as I mentioned above online websites are
always open for any kind of business and do not require me to always be there for any query
related to transaction all orders etc.

Another important fact is that I can start the online business all by myself Ben wasting my time
and effort in it. I won't have to pay employees to rent an office or pay other expenses that a
traditional business worries about. As an individual entrepreneur, online businesses are the best
and quickest way to start with the least expense.

WEAKNESSES
There are many weaknesses that I would need to work on for example lack of credibility,
customer service challenges, knowledge about recent trends, marketplace saturation, and
allocating time towards this business.

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CREDIBILITY
When I talk about lack of credibility it is because the traditional companies have built a certain
level of trust between the customer and the business they run. The fact that they have invested a
lot of time and money to start up their store. While in e-commerce I will have to work harder
invest more time to get the credibility and trust of my loyal customers. it will take time for me to
prove that my business is legitimate especially at the start when it is small and ready to expand.

CUSTOMER SERVICE
Building reputation is another challenge, many online businesses have a reputation for their
brilliant customer service. whereas most online businesses have to face this challenge of
interaction with customers. Online businesses don't have the means to set up personal
appointments all I can do is resort to an email chat board or other online means of
communication with my customer to enhance my customer service.

TRENDS
I will have to keep myself updated on all the recent trends to be updated about my customer's
demands, what my target audience prefers, what they might dislike, and what will increase my
sales. being in any kind of business how's this demand to be up to date with the recent trends if I
want to excel in my business.

SATURATION
market saturation is another aspect to worry about because in online businesses there are many
competitors and if I don't have loyal customers people will prefer buying things from local
businesses which are offline instead of building trust in me. Online companies have dozens of
competitors across the world not only in a specific area the level of saturation has made it
difficult to penetrate in a marketplace. I would need to invest a lot of time to overcome this
weakness for the best of my business.

TIME ALLOCATION
The last least problem is the allocation of time. if I give proper time to my business, I will get
better results quickly. all I would need to do is to specify the time I need to invest generously and
on which area, which aspect needs more attention and time for me.

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 CONCLUSION
Online businesses have a lot of advantages if all the weaknesses and disadvantages are covered. I
will need to develop a growth strategy that is reasonable and sustainable in the long term. I will
need to understand and work hard to excel and outshine my competitors. I have the advantage of
expanding my business from a small number of customers to become a successful organization
without even stepping out of my room if I gave it proper time and work on my weaknesses. I
need to have a realistic perspective.

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 References
Ball, C. (2021, January 11). What are the emerging impacts of COVID-19 on the graduate labour
market?

Partington, R. (2021, April 21). Youth unemployment: the young workers hit hard by the Covid
crisis. Youth unemployment.

Romiti, M. (2021). Graduates’ labour market outcomes during the coronavirus (COVID-19)
pandemic: occupational switches and skill mismatch. Office for National Statistics, 1(1),
14.

(2020). The impact of the COVID-19 pandemic on jobs and incomes in G20 economies. Saudi
Arabia: International Labor Organization.

Young-Powell, A. (2020, june 1). 'I'm worried I'm not going to get a job': meet the corona class
of 2020. Future of education.

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 APPENDIX
APPENDIX 1
Working from home in covid as a freelancer. Interest in creating a website for affiliate
marketing.

APPENDIX 2
Working from home is a better option in this post-pandemic situation. Many businesses have
converted themselves to online marketing as it has become a need in recent times.

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