Unemployment in the Financial Sector

Financial sector

I have observed that there is a problem of unemployment in financial sector facing our society in today's world filled with an advanced information technology. A lot of graduates from universities and colleges with qualification in finance, accounting, banking and economics struggles to get jobs related to their fields.

Now, as a person with such background of the named fields, I have these thoughts to share with the responsible authorities. I believe if they do, it will be helpful to address the problem in question.

It is simple, they have to focus on research, innovation, skills development on related fields and then implement the results as follows:

#1. Promote Digital Financial Services

In today's modern world, information technology plays a greater role in the financial sector. That being the case, I advise responsible people to invest more in digital payments, mobile banking, online financial consulting and financial technology. If they do this, a lot of new employment opportunities for IT specialists, accountants, financial analysts and customer service representatives will be created.

#2. Provide Practical Training and Internships for Fresh Graduates

I advise the responsible authorities to do this because a lot of graduates have academic qualifications but no work experience. So, if they get such trainings, mentorship and internships, they will improve their skills hence succeed in the job market.

#3. Establish Financial Services Company

I advise the responsible authority to establish companies that offers accounting, financial planning, tax consultancy, auditing and business advisory services to individuals and small business. If they do, it will provide employment opportunities for fresh graduates. In addition to that it will help other business manage their finances efficiently and effectively.

#4. Support Small and Medium-Sized Enterprises (SMEs)

I advise the responsible authorities to support SMEs by connecting them with financial institutions. This is by creating good environment for them to get low interest loans and also to help them have good investment opportunities. This will make SMEs grow hence crates more employment to young people.

#5. Encourage Young People to become Entrepreneurs

I advise the responsible authorities to let fresh graduates to change their mentality about depending only on formal employment and ignoring entrepreneurship. I suggest with the knowledge they have; it will be easy for them to become entrepreneurs. A lot of them who took such decision found their financial breakthrough. This is because they already have financial knowledge supported with creative mindset and financial capital.

Conclusion

If the responsible authorities orient themselves to business creation, innovation to information technology, practical training, internships for fresh graduates, establishment of financial service companies, support SMEs and entrepreneurship, unemployment in financial sector will be a history.

Thank you very much for reading.

What are your thoughts?