Its been a while since our last publication and would you believe the changes that have happened? At 2GN Education Centers we have been busy with the development of our education programs and reaching out further. There are many reasons for this and we will be discussing these as we go along.
You will have noticed over the years that academic qualification is bringing lower and lower salary levels to graduates of virtually all educational institutions. You might also have noticed that quality educational training has not gotten cheaper even when the economy is bad. So the level of investment in education remains about the same or increases but the returns are diminishing. Is there an explanation for this?
You bet there is, and you want to pay attention here! There is a "Law of Economics" called the "Law of Supply and Demand". Basically, this law states that prices increase for a given product where there is a greater demand relative to the supply, and prices tend to fall when there is a lesser demand relative to the available supply, assuming that everything else remains equal (or unchanged).
Applying this law we can reasonably conclude that in the area of quality academic training the demand is either static or increasing. This would explain, to a large degree, why the price for quality academic training is either static or increasing. If you think about this you will begin to see how this could be so. Today, some level of education is needed for nearly every job, and even relatively common jobs, are now demanding greater levels of skill and knowledge to perform effectively.
But if there is greater demand for better training at the employment side then how can the price for jobs be falling? There are a number of reasons for this, but generally, there is a greater supply of qualified persons than there are jobs for them. This may seem puzzling as many employers are having difficulty finding the right persons to fill job vacancies!
Having been in all these categories myself at various times (employee and employer; teacher and student) I believe I have an advantage over most persons looking at this issue and can provide a bit of insight into the meaning of this and, more importantly, what this means for you.
You see, jobs are largely determined by the goods and services being produced in a given economy. The greater the range and volume of goods and services being produced the greater the need for human input - for the most part. Let's say that you are in an economy that is mainly involved in selling things that are produced in other countries. Your economy will need more sales persons, accountants and customer service skills - up to a certain point. After that point is reached there is no more need for more sales persons as they will not sell large enough volumes of goods to make economic sense. But lets say there is a sales training school that developed to meet the need for sales persons at the time that the demand was greatest. This school will still have persons enrolling to do sales believing that they will find a job with relative ease. So the school trains them.
Then, a dozen trained sales reps show up for the last available job. The employer is now in a position to attempt to pick the best skilled person and offer a lower price for the job, since all the applicants are qualified. As persons realize that the chance of getting the job is 12 to 1 some will be prepared to accept the lower salary. The price has gone down for this skill even though the trainee would have paid the standard rate for their training. And so the process goes.
The school that provides training has no particular interest in knowing the number of jobs available. It will usually just stop offering that course when there are not enough enrollments. Because the school that provides the training and the businesses that provide employment are working with real amounts of money, they know what is happening in their industry very well and can respond quite quickly. The job seeker, on the other had, is not so fortunate.
Conventional wisdom is to get as well trained as you can be and get the highest paying job you can get. This drives the training and employment industry. In the end, the employer calls the shots. This suggests that it may be in your best interest to become an employer rather than a trained job seeker. There is considerable wisdom in this and we will look more closely at it in our next blog post.
In the mean time, we have taken a slightly different approach to our training programs. At 2GNEC we have not only made the learning process more sensible, enjoyable and productive but we have taken the time to do some research and have used our findings to create training programs that more closely match what employers are looking for. This is a significant benefit both to employers and employees. Whichever one you are, or become, you can certainly benefit from our training programs.
So visit our website at www.2gnec.com . Click on our Education link and make sure to subscribe for our free information kit. There is no cost or obligation at all and we might just have the course that is right for you.
We'll be back soon to continue this discussion. Until then, take care.
2GNEC Training Team
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