More NZ women take up self-employment: Report

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Wellington, July 15 | The number of self-employed women increased almost 14 per cent to 143,500 in the year to March 2021, the country’s statistics department said in a report released on Thursday.

The term “self-employed without employees” can include people who are starting their own business, sole traders, independent contractors, freelancers, or gig workers, and excludes people who employ others”, labor market statistics manager Andrew Neal said in the report.

The latest data from the March 2021 quarter Household Labor Force Survey showed the number of women who were self-employed with no employees increased by 17,500 over the year, up 13.9 per cent, reports Xinhua news agency.

This coincided with a drop in the number of women in paid employment, though this drop was not statistically significant, Neal said.

The number of self-employed men reached 211,600 in the same period, up 3.5 per cent, though this was also not statistically significant, he said.

“After the challenges that Covid-19 presented this past year, employment opportunities for women are continuing to bounce back and we’re seeing this in an increasing shift into self-employment,” Neal said.

In the March 2021 quarter, when asked about how they felt about their work, 91 per cent of all self-employed women reported that they would prefer to continue working as they were.

Only 6.4 per cent of self-employed women said they would prefer to work for someone else, according to Stats NZ.

Overall, most self-employed people worked in the professional, scientific, technical, administrative, and support services industry in the March 2021 quarter, followed by the construction industry.

Other industries with a high proportion of self-employed people were agriculture, forestry, fishing and mining industries, as well as arts and recreation, Neal said.

In the year to March 2021, 8,600 more people were employed in New Zealand, making a total of 2,758,000 employed. Among them, there was an increase of 24,700 self-employed people, statistics show.

The total number of self-employed people increased by 7.5 per cent in the year to March 2021 to reach 355,000, the only statistically significant change among other employment statuses, Stats NZ said.

Source: IANS

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Does MBA really help in getting a better job offer ?

Does MBA really help in getting a better job offer ?

Most students pursuing an MBA come with the sole objective of having a decent job offer or a promotion in the existing job soon after completion of the MBA. And most of them take loans to pursue this career dream. According to a recent survey by education portal Campusutra.com  74% MBA 2022-24 aspirants said they would opt for education loans.

There are exceptional cases like those seeking master’s degree or may have a family business to take care of or an entrepreneurial venture in mind. But the exception cases are barely 1%. For the rest 99%, a management degree is a ticket to a dream job through campus placements or leap towards career enhancements. Stakes are high as many of them quit their jobs which essentially means loss of 2 years of income, apprehension and uncertainty of the job market. On top of that, the pressure to pay back the education loans. Hence the returns have to be high. There is more than just the management degree. Colleges need to ensure that they offer quality management education which enables them to be prepared for not just the demands of recruiters and for a decent job but also to sustain and achieve, all along their career path.

  • So, what exactly are the B Schools doing to prepare their students for the job market and make them industry ready ?
  •  Are B schools ready to deliver and prepare the future business leaders to cope up with the disrupted market ?  

These are the two key questions every MBA aspirant needs to ask, check and validate before filling the MBA application forms of management institutes. And worth mentioning that these application forms do not come cheap. An MBA aspirant who may have shortlisted 5 B Schools to apply for, may end up spending Rs 10,000.00 to Rs 15,000.00 just buying MBA / PGDM application forms.

While internship and placements data of some management institutes clearly indicates that recruiters today have specific demands. The skill sets looked for are job centric and industry oriented. MBA schools which have adopted new models of delivery and technology, redesigned their courses, built an effective evaluation process and prepared the students to cope with the dynamic business scenario, have done great with campus placements despite the economic slow down.

However, the skill set being looked for by a consulting company like Deloitte or KPMG may be quite different from FMCG or a manufacturing sector. Institutes need to acknowledge this fact and act accordingly.

  • Management institutes should ensure that students are intellectually engaged, self motivated and adapt to changes fast. In one word ‘VUCA ready’.
  • B Schools should encourage students to participate in national and international competitive events, simulations of business scenarios.
  • Institutes should have the right mix of faculty members with industry exposure and pure academics.

The placement records of 2021 across top management institutes indicated the fact that recruitment is happening, skilled talent is in demand and certain management institutions continued to attract recruiters even in the middle of an ongoing crisis.

It is time, all management institutes rise to the occasion, understand market realities and identify areas of improvement at both ends – students and faculty.

After all, the stakes are high at both ends. B Schools taking corrective measures will stay while those which are lagging will end up shutting down.

Author Name : Nirmalya Pal

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