Education continues to be crucial for improving the likelihood of finding a job, according to Statistics South Africa’s Labour Force Survey for the fourth quarter of 2023.
Released in February, the survey found that the official unemployment rate increased by 0.2 of a percentage point, from 31.9% in the third quarter of 2023 to 32.1% in the fourth quarter of 2023.
According to the survey, the unemployment rate among people without a matric was 38.6%, slightly lower than before, while it was 9.6% among graduates, which was an increase from the previous quarter.
People with a matric or lower had higher unemployment rates than the national average, but those with higher qualifications had lower rates. Compared to the previous year, unemployment rates decreased for all education levels, with a significant drop among graduates.
Edel Goldbach, academic manager at Moonstone Business School of Excellence (MBSE), says these statistics confirm that you need to keep on improving yourself to remain competitive in a competitive world.
MBSE is an online education provider that offers a range of qualifications, short courses, and CPD courses approved by the Department of Higher Education and Training, the South African Qualifications Authority, the Council on Higher Education, the FSCA, the Insurance Sector Education and Training Authority, and the Financial Planning Institute of Southern Africa.
Goldbach says that with job scarcity and intense competition, it’s crucial for anyone, whether currently employed or seeking a career, to think about pursuing further studies. Otherwise, you might find yourself falling behind in the fast-paced world of work.
“Also, if you look at how fast things change these days, you can’t hope to study one thing and then keep on doing it all your life, because things are changing so quickly. You’re always having to reinvent yourself, learn different skills, and keep on developing and growing,” she says.
Goldbach says this is where online learning comes in. It’s a way for people who are already working to continue earning an income while they study.
However, the cost of studies often poses a significant obstacle for many individuals, along with doubts about whether they’ll see a worthwhile return on their investment.
Goldbach says furthering your education can substantially enhance your career prospects.
“If it’s between you and another applicant for a job, that maybe moves you up in the corporate ladder. Companies look at everything on your CV, including your studies. How much self-development did this person do, did they learn new skills, or do they just sort of float by based on what they have?”
She explains that the return on investment lies in acquiring new skills through online courses, as well as learning indirectly from the unwritten curriculum, such as time management, proactive study planning, and meeting deadlines for assessments.
“Employers look at those kinds of things. If they know that you studied a course part-time while you were working, then it says something about your character. It says you can manage your time and be proactive – start something and then also complete it because that’s a big thing.”
What to consider when choosing a learning institution
When choosing a learning institution and a course to study, Goldbach says one of the first things that you need to consider is whether the institution is accredited.
“That’s very important. And look at what is it that you want to study and what is it that they are offering. Are its qualifications, as in MBSE’s case, linked to professional associations like the Financial Planning Institute or the Insurance Institute?”
She says an important aspect to consider when it comes to online learning is whether the institution offers support, and if it does, at what level.
“How much support will you be getting? Is that lecturer immediately available? If possible, try and see if somebody else studied through that institution that can give you answers to these questions.”
Goldbach says other questions to ask are how the course modules are structured and how flexible it is – for example, how much flexibility do they offer in terms of their timelines? Do they have deliverables every week, or is it a bit more spread out? How often do they have intakes? How will you write your exams? Can they be done online, or do you have to go to a venue?
“In terms of choosing the actual course, you have to ask yourself what is it that you want to do, what is it that you want to learn about, and then choose your goals from there. And maybe compare options, compare prices,” says Goldbach.
The advantages of online studies
The biggest benefit of studying online is its flexibility. Goldbach explains that if, for example, you compare a postgraduate diploma offered by a brick-and-mortar institute versus an online institute, online studies mean you won’t have classes, say, every Tuesday and Thursday from 7pm to 9pm.
“For some people this is an advantage and for others a disadvantage. It depends on your view, but a lot of people with small children and families might not find it easy to go to evening lectures, whereas an online course allows you to do everything you need to when you get home – cook supper, put your kids to bed – and then you can address your studies at night or on the weekends.”
Besides being flexible, studying online also means that you don’t have to worry about paying for transport to get to a learning institution.
However, Goldbach cautions that online learning requires self-discipline.
“You get out what you put in,” she says.
Reach professional goals in 2024 by studying further with MBSE
The closing date for applications for MBSE’s second semester intake is 1 July.
MBSE offers the following accredited qualifications:
- Postgraduate Diploma in Financial Planning (NQF 8)
- Advanced Certificate in Financial Planning (NQF 6)
- Occupational Certificate: Compliance Officer (NQF 6)
- Higher Certificate in Wealth Management (NQF 5)
- Higher Certificate in Short-term Insurance (NQF 5)
Apply today at www.mbse.ac.za.
For more information, contact MBSE at help@mbse.ac.za.
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