- Education is our country’s future. And the outlook is scary
- Mind the gap: why do new graduates lack necessary skills?
- The Sleeping Beauty of corporate education
- The key to talent retention
- A world of online opportunity for business education
- New rules for professional education
- Is a foreign language course a benefit or an investment?
- Demonstrating the potential of dual education in Slovakia
- Discovering the potential in Slovakia’s talent pool abroad
- The future of work – virtual collaboration and solving the world’s biggest problems
- Committee on Business-Academic Cooperation
- Expat opinions on corporate competitiveness in CEE
- Interim manager – ER doctor or plastic surgeon?
- Leveling the playing field: Promoting diversity in hiring
- What makes you an attractive employer?
Education and the Labor Market
Imagine a future where 30% of the population do not have the basic
education necessary for employment. Imagine a lack of high-quality job
applicants, soaring unemployment and related increases in social
security payments. That’s the future we are heading for.
Law firms tell me that new lawyers lack project management skills (meaning the ability to lead teams to deliver projects efficiently and quickly); businesses tell me that sales is not a subject taught on the traditional academic syllabus yet it is one of the most important topics for business. Other examples include: “Nurses have lost the skills to care for patients”, “Teachers don’t know how to practically manage a class”. Every country I visit the story is the same from employers!
Every company needs educated employees. It is management’s responsibility to motivate employees to participate in educational programs. Training courses and workshops can be considered as a corporate Sleeping Beauty. Fortunately, things are changing. Western European companies have realized the necessity of educational programs for a good working environment.
In order to stay competitive, businesses must maintain a highly skilled, motivated staff. Findings of the CEO Survey 2015 performed by PwC and Forbes show that almost 50% of Slovak CEOs are anxious about how their ability to maintain key experts will influence organizational growth.
While universities are often criticized for not being a perfect fit for all business and vocational needs, they deserve our appreciation for maintaining a strong position as established sources of academic rigour.
On 12 March 2015, the National Council of the Slovak Republic adopted a new Act No. 61/2015 Coll. on Professional Education and Preparation amending certain acts (the “Act”). Most of the provisions of the Act have been effective as of 1 April 2015 and the remaining part will become effective on 1 September 2015.
Each year, companies in Slovakia pour tens of thousands of euros into language training for their employees. However, many of these companies consider this a benefit for employees, but not as an investment in human resources. In addition, the return on money invested is not measured by the vast majority of companies at all. More details on this topic is contained in the Slovak Association of Language Schools (AJS) survey.
International companies that have established themselves in Slovakia will increasingly need an educated workforce, said US Ambassador to Slovakia, Theodore Sedgwick, at the first annual conference, Business Service Center Forum, which was held last month in Bratislava.
If you approach a group of talented Slovak high-schoolers with a question about their further education, it is very likely that universities abroad will get mentioned quite often. More and more Slovaks decide to take advantage of the available opportunity and seek quality education at top universities in other countries. But do they return to Slovakia later or apply their skills somewhere else? And why should we care? Michal Kovács of LEAF offers his perspective on this issue in the following interview.
Given today’s connected world where global expertise can be accessed online, important environmental problems can now be solved collaboratively by specially created multidisciplinary teams.
Slovakia’s transition to a knowledge-based economy has been on the agenda of several successive governments. Two things are clear: it is a long-term project requiring solid commitment from the government and academia, but also the business sphere; its success is of crucial importance for the future of Slovak economy.
More than 25 years after the collapse of the communist regimes, critical corporate issues still stop companies in the Central and Eastern European regions from becoming more competitive. In spite of improvement in many fields, a pan-regional survey of foreign senior managers makes it clear that much still needs to be done in terms of decreasing bureaucracy, eliminating corruption, focusing on customer service and taking more managerial responsibility.
The need to fend off a sudden, life-threatening economic crisis at a company, detection of corruption, a death or illness in top management – these are typical situations that an interim manager encounters.
Recent changes in Slovak legislation permit companies to adopt “temporary equalizing measures” to level the playing field for historically disadvantaged minorities, including Roma. In the United States, many companies, including Fortune 500 corporations, have instituted their own diversity programs and have recognized the competitive advantages of a diverse workforce.
In the recent KICC survey1 89% of top students stated they are prepared to move countries regularly for the right job. Their career choice is at most influenced by offered professional challenges, career opportunities and working environment.