A study on employability using the USEM model: perceptions of employers and students enrolled in business courses in DLSU

The increase in global competition in business and commerce has brought a multitude of unique challenges, particularly to the labor market. Among these challenges is the heightened competition for jobs and the quest for competent employees that were qualified for the positions which they were hired for. With the rise in job applicants and number of jobs available in the market, today\u27s current situation calls for an adaptive and dynamic workforce. Employers seek a human capital that is able to adapt and readily respond to constant changes that are emerging in the work environment. One of the issues that employers frequently encounter is the mismatch of skills between the skills they expect from graduates and the skills that these graduates possess. It would seem that although students have received training and formal education in higher education institutions (HEIs), the skills they acquire in their undergraduate education do not equip them with the skills that are needed in the workplace. In this regard, the study aimed to investigate the factors that contribute to this mismatch of expectations. In addition, it aimed to discuss the means by which these expectations can be aligned in order to make students transition from school to work smoother for both employers and the students themselves. The attributes of employability were examined using the USEM Model of Employability, proposed by Knight and Yorke in 2004. This model holds that there are four broad and interrelated components employability, namely, understanding, skillful practices, efficacy beliefs and metacognition. Descriptive statistics was employed to determine the perception of students from the following selected field of specializations: accountancy, finance, and economics. Questionnaires were distributed to the students of selected business courses in De La Salle University and employees in the private sector whose line of work corresponds to the students\u27 field of specialization. The results indicated that the components of the USEM model were perceived to be relevant by both students and employers. In general, there were varying degrees of importance given to the various employability skills, and it was noted that employers perceived them to be more relevant to employability than students did. The researchers recommend that emphasis must be placed on these attributes, especially those included in the priority skills in order to fill the gap that exists between the perceptions of students and employers. The data gathered was instrumental in the decision making of those in the education, government business sectors, and other stakeholders that might be affected