Skills Are the New Knowledge: Transforming Commerce Education in South Africa

The global shift in education from traditional knowledge-based teaching to a focus on skills development is reshaping the landscape of Commerce education. Driven by the evolving demands of the job market, this trend emphasizes critical thinking, problem-solving, and digital literacy. A 2022 World Economic Forum (WEF) survey highlighted that 50% of all employees will need reskilling by 2025, underscoring the importance of adaptable and transferable skills to better prepare students for the dynamic nature of modern careers in commerce.

South Africa mirrors this global trend, with higher education providers striving to align educational outcomes with job market requirements. Both the South African Qualifications Authority (SAQA) and the Department of Higher Education and Training (DHET) emphasize the need for graduates with strong people skills and adaptability. Employers now prioritize practical skills and real-world experience over rote memorization when hiring graduates.

Compounding this challenge is South Africa's high unemployment rate. A 2023 United Nations Development Programme (UNDP) report revealed that youth unemployment exceeded 46% in early 2023. The report underscores the necessity of transforming curricula to focus on future skills and industry needs, alongside initiatives to enhance youth participation in the economy.

STADIO’s School of Commerce is addressing these challenges with two initiatives. The School is forming partnerships with industry associations, including the Project Management Institute, the Marketing Association of South Africa, the Ethics Institute, and the Risk Management Institute of Southern Africa. These collaborations enhance curriculum relevance, increase funding and resources, provide research and development opportunities, and improve employment outcomes. For commerce students, the benefits include practical industry experience, networking opportunities, further skills development, and enhanced employment prospects.

Furthermore, STADIO is leveraging digital credentials, known as "STADIO stripes," to help students display their skills to potential employers. These digital badges offer recognition of relevant skills and achievements, enhanced employability, motivation and engagement, lifelong learning and career development, accessibility and portability, and alignment with industry standards. An example within the School of Commerce is the stripe for project management, which has already benefited many students.

In conclusion, STADIO’s School of Commerce is proactively responding to future work trends, ensuring that students are well-prepared to thrive in the evolving job market.

 

DATE: August 2024  |  DISCLAIMER: The content of this blog is accurate at the time of publication. STADIO reserves the right to change the content due to changes in legislation, as well as for market requirements and other reasons.