With the youth unemployment rates in Nigeria increasing by 2% from 36.5% in 2020, it is important to learn skills that will help you excel in this competitive labor market. While steps to combat this problem are being taken by the government, as an aspiring member of the workforce some strategies and skills are required to navigate this situation.
Members of the workforce and business owners of private corporations can also lend a hand to combat this prevalent problem.
Here are some strategies to combat youth unemployment;
Entrepreneurs are essential in the creation of wealth and advancement of economic growth, employment, and innovation. With certain financial planning companies that assist in creating plans that will generate capital for small businesses, it is possible to start your own business if you start the work, therefore, creating employment opportunities for you and other youths.
Build multi-sector partnerships:
A partnership of small businesses with academic institutions and several other small businesses can help combat youth unemployment. This can be achieved through the help of networking companies that will help connect your business with the right businesses and institutions.
Understand the talent value chain:
It is very important to have a clear understanding of the talent value chain in any industry you are interested in going into. The transition from education to employment is a make or break juncture in every individual’s life and the determining factor is the talent every individual possesses. Build your talent, know the value of it and take advantage of your knowledge of the monetary value of it.
To build talent and create opportunities for yourself, the focus should be on building skills and knowledge. It also gives you the chance of getting retained after your apprenticeship or getting a positive reference under your belt during your transition from education to the labor force.
Look for jobs in an industry that is actively growing:
If there are few opportunities in an industry, you would find it to be very competitive. You may need a great deal of luck to succeed in it or might get frustrated if you get rejected often, you could also lose time in the early part of your career to a pursuit that does not pay off.
Work part-time while pursuing your passions:
It is important to have additional streams of income to support yourself and your dreams when building a career. It will not only help you live a desirable lifestyle but will also provide capital.
Every dollar spent on skill acquisition is a dollar spent on your product (yourself), use FPT to find areas you might excel in and training to improve your overall skill (the best way to prevent unemployment is to improve your skill constantly).
Find the balance between passion and growing industries:
It is important to work in places you are passionate about because it promotes productivity but it is also important to find a balance and incorporate the idea of establishing yourself in less competitive industries and find ways to contribute your talents in them while living your dream.
We live in a digitally dependent society today and it is very important to acquire skills in this area because it will give you an advantage over other aspiring candidates during a job interview.
All of these skills and strategies are relevant to individuals and corporations and should be taken into great consideration.