Employability is a set of achievements – skills, understandings and personal attributes – that make graduates more likely to gain employment and be successful in their chosen occupations, which benefits themselves, the workforce, the community and the economy.
-Professor Mantz Yorke, 2004
Employability is the term used to refer to a person’s capability and gain of knowledge and skills that could be used to produce an individual’s economic value. This does not only constitute a college degree. A person’s employability includes “soft skills” that are crucial in order to work, which includes social or people skills. Some refer to employability as human capital, which is the stock of knowledge, habits, social and personal attributes, creativity and tact, among others, that are embodied in the person’s ability to perform well and contribute to the company, community, and labor force.
According to Gary S. Becker from The Concise Encyclopedia of Economics, the most important investments in human capital are as follows:
It is evident that high school and college education greatly raise a person’s income and potential to be given a high-ranking and high-paying job in the future. Although it is not a prerequisite to being successful in life, education is indeed a good investment whose benefits will surely be evident as one moves among the labor force. Other than getting a good education, a person should also invest in the hands-on training and application of the set of skills and knowledge that he or she has gained and acquired. Learning should not stop from just reading and getting information from books. Application and experience are vital in improving one’s potential for success. Every one of us should invest more in our own growth as individuals and also as employees. No one gets to the top by the instant flick of a finger. It is a continuous process of learning, gaining experience, harnessing knowledge, and interacting with people in order to develop one’s full potential to becoming a success.