Apprenticeship Levy
The apprentice levy tax began in April 2017 and applies to all employers. The University’s annual wage bill is above £3m, and will pay 0.5% into the levy each month at an annual cost of £1.2 million.
This scheme will allow staff to further educate themselves, and in essence enhance the business of the University. However the impact of the scheme will result in a 20% loss of productivity for every member of staff on a course. The levy may also increase the potential loss of staff once gaining greater qualifications, they may look for opportunities elsewhere impacting on staff retention. Alongside the £1.2m paid to the levy the University’s cost to grow and maintain business is substantially higher.
Student Fees
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The ability to attract students is a strange situation as a financial analysis leads us to see an increase in student numbers with the ability to maintain this year on year. This goes against the threat of the increased affordability of higher education.
This increasing trend may have a substantial downside to business, within densely populated student areas. The more people attending university courses the need for skilled labour or lower skilled requirements will be in short supply.
If the University educates students in skills that are not required for business then employment will be low as they do not have the necessary skills to carry out the work.
If we don’t offer the correct degree courses that employers and businesses require then students will not come.
This will have a major impact on Newcastle University’s’ reputation as one of the best for graduate employability with degrees that are relevant to the workplace. The University is consistantly in the top 20 for graduate career prospects.
Conclusion
The University realises there are many external factors impacting on its business survival. Issues related to Brexit are many and complex with numerous uncertainties.
The continuation of working and lobbying the government on the relevant issues are key to minimising the impact on the organisation.
The University requires the government to guarantee as a minimum the same level of research funding we currently receive from the EU
The
Another down effect is that it could possibly effect the number of people that are furthering their education, if a basic job can make them afford most of their needs then there will be little desire to spend money and time investing in their education.
“Universities teach students how to think, but they do not provide real world experience, so people leave school unprepared for the workplace” (Smith). “More than half of all companies (60%) said new graduates lacked critical thinking skills and attention to detail (56%), while 44% found fault with their writing proficiency, and 39% were critical of their public speaking ability” (Berr). Students find it very difficult to understand what they need to do to prepare for the workforce. Instead, students could have been doing other things that could increase their techniques to help them make money in different
There have been a study that most jobs in future won’t require a college degree According to the Times(, eight out of the ten job categories that will add the most employees during the next decade including home-health aide, customer-service representative, and store clerk—can be performed by someone without a college degree. It’s true that this small jobs don’t require a college degree but if we see ourselves and our history we have been developing too fast and in that development life got harder, and requirements for opportunity increased. The world is changing, the job that once required no education are now demanding GED or high school diploma and need not to be statistics that soon that requirement would change to college diploma as the world is advancing at a fast phase that it never did. It was 6 to 7 years ago when need a of computer skill wasn’t even a question and now whole world is
A job requires skill and knowledge. Murray says, “ The increase in wealth in American society has increased the demand for all sorts of craftsmanship… work of specialized skills in stonework, masonry, glazing, painting, cabin making, machining, landscaping, and a dozen other crafts” (Murray 236). Murray says that college will not provide the skill set for these jobs. College is where. Murray wants these type of people with low academic ability to shoot for one job and not move from that occupation or move up the ladder. Sanford J. Ungar in “The New Liberal Arts” makes a counter argument saying “It is far wiser for students to prepare for change and the multiple careers they are likely to have than to search for a single job track that might one day become a dead end ” (Ungar 191). During the economic recession, many workers in the manufacturing industry were laid off without a guarantee that they would be rehired in the future or that their positions would still be available. Unfortunately some of these jobs will never come back because the positions have been modernized. Non-stop robotic arms have replaced humans in the assembly line, which have financially benefited the companies. The advancement in technology has brought the world to a state where skilled labor jobs are not needed as much as others such as jobs in computer information systems or computer networking. Ungar brings up Geoffery Grain, president of the Hart Research who says that the responsibility of higher education today is to prepare people “ for jobs that do not yet exist” (Ungar 191). Higher education will always be beneficial now or in the future, it will never be a
Because having a degree has become so common, employers now use it as a way to eliminate people who would not make good candidates for employment—even if a degree isn’t a totally accurate determinant of one’s talent or work skills. The mass availability of college education may actually “debase its intrinsic value” (Bankston, p. 338).
The degree is seen as a free (to the employer) screening tool to filter through the applicants. The employer sees the degree as a representation of the individual’s ability to learn as well as a level of perseverance desired in employees. Considering the social and economic pressures in today’s world, all individuals with the ability to attend college and achieve a degree should do so in order to better prepare themselves for a competitive job market.
Businesses want to not only see that people have the knowledge to graduate from college, but that they also have the discipline. In today’s knowledge-based economy a college degree is one of the most important and valuable things a person can withhold to have success. With the economy here in the Unites States being down that puts a lot of pressure on people without jobs, and even more pressure on the people with jobs to keep them.
As the world of work becomes more complex, many workers need training to avoid losing their jobs or being passed over for promotion. Consequently, many who would not have considered college 20 or even 15 years ago are finding themselves back in school. As adults become students, employers, colleges, and workers are changing old notions about how to go about pursuing higher learning.
economy. The point of this article is to bring awareness to the rising numbers of student
Authors: Matos, Frederico, Source: Journal of Higher Education Policy & Management. Dec2013, Vol. 35 Issue 6, p626-638. 13p.
A college education is necessary to get a job that pays well, or to get any good job. Any, and every job that is ‘worth’ having requires some type of higher education, whether it relates to the job or to show general experience, a degree is required. “This calls for greater access to a college or university
As more and more students graduate, they begin to look for work; hoping for a job capable of paying off their debts and making their chosen degree worthwhile. In America, we are running into the problem of a lack of jobs, requiring a degree or not. From service-jobs to white-collar jobs, "...more than 14 million jobs are vulnerable to being outsources offshore." (Roberts).College graduates that are native to America are struggling to find work due to the outsourcing of jobs, in turn damaging our economy.
The tuition increases have come in response to the lack of federal funding to universities, leading them to find their own way to provide for their upkeep. “Recent increases in university tuition fees are part of a new entrepreneurial trend in higher education in which institutions are expected to generate more of their own revenue” (Quirke). The universities have decided that since they can no longer look towards federal funds to fuel their costs of maintenance and revenue, they must find a new route towards attaining much needed funds, and they have chosen to
At the same time students today face a higher chance of unemployment after graduation. This
This essay will be examining both sides of arguments and give reasons to why the policy is unfair to current and future university students. As for the impact on the economy in the UK, Graphs, and statistical data will be included to further explain and analyze.