IOP2605_Assignment_4_Semester_1_2023 IOP2605 Assignment 4 Semester 1 2023 QUESTION 1

IOP2605_Assignment_4_Semester_1_2023 IOP2605 Assignment 4 Semester 1 2023 QUESTION 1 Read the following excerpt and answer the questions that follow: “Basing her educational agenda, such as the Millennium Development Goals, on the tenets of human capital theory, South Africa has, like many developing countries, invested heavily in education over the last decade (between 5.3% and 5.5% of the GDP for the period ) (World Bank, 2010). If, as human capital theorists argue, there is a direct relationship between education and development, this investment should not only have yielded real economic growth, but unemployment rates should have dropped. This has not, however, happened: South Africa has one of the highest unemployment rates in the world, higher even than in most of the emerging economies” (Nieuwenhuis, 2012). Could you find a more recent reference? 1.1 In your own words, Explain the three groups in the labour market identified by Erasmus (2010). In addition, distinguish the three main areas in which the correct training policies can make a positive impact on the eradication of structural employment and on productivity enhancement. (7) Erasmus (2010) identified three groups in the labor market: the highly skilled, the semi-skilled, and the unskilled. The highly skilled group includes individuals with advanced education and specialized training, while the semi-skilled group has some level of training but may not have advanced education. The unskilled group has little to no training or education. The three main areas in which the correct training policies can make a positive impact on the eradication of structural employment and productivity enhancement are: Training for employability: this includes programs that help individuals gain the necessary skills and competencies to be employable in the labor market. This study source was downloaded by from CourseH on :52:16 GMT -05:00 Training for job-specific skills: this type of training focuses on specific skills required for a particular job or occupation. Training for entrepreneurial skills: this type of training focuses on developing the skills and competencies needed to start and manage a business. 1.2 In your own words, discuss how the department of higher education and training (DHET) assisted higher education (HE) to align its offering with the expectations of employers and the employment environment of the future by looking at organising framework for occupations (OFO). (7) The Department of Higher Education and Training (DHET) has assisted higher education (HE) to align its offerings with the expectations of employers and the employment environment of the future through the Organising Framework for Occupations (OFO). The OFO is a tool that classifies and organizes occupations according to skill level, field of work, and specialization. This framework enables the DHET and HE institutions to better understand the skills and competencies required for different occupations and to develop programs that are aligned with the needs of employers and the labor market. By using the OFO, HE institutions can design curricula that address the needs of specific occupations and industries, and ensure that graduates are equipped with the necessary skills and competencies to succeed in their chosen careers. This, in turn, can help to reduce unemployment and increase productivity in the economy. 1.3 In your own words, discuss the characteristics of career self-management as suggested by Coetzee and Schreuder (2017). (6) Coetzee and Schreuder (2017) suggested that career self-management has the following characteristics: Proactivity: