Bachelor of Commerce (Digital Marketing) - Postsecondary ...
Bachelor of Commerce (Digital Marketing) - Postsecondary ... Bachelor of Commerce (Digital Marketing) - Postsecondary ...
Figure 3 – Area of Responsibility 35% 32.7% 29.1% 30% 25% 20% 15% 10% 5% 14.5% 14.5% 9.1% 0% HR Business Marketing Regional Accounting B. Executive Summary This chapter provides an overview of labour market trends, opportunities, and employment prospects for graduates of Fanshawe College’s proposed business degree programs through review of labour market information and national, provincial, and regional occupational forecasts and analysis of data collected from 55 interviews with senior representatives of businesses, organizations, and regional economic development associations. Employers who participated in the interviews were from mid‐sized and large firms across a broad range of sectors. Labour Market Shortages Employers reported the most significant labour market shortages in the current labour market for positions in Marketing (Digital Marketing Analyst, Search Engine Marketing Specialist, Digital Marketing Specialist, and SEO Specialist) and Accounting (Taxation Specialist). Marketing was also the business concentration most likely to be identified as facing future shortages, with fully 20% of Employers indicating that supply would be insufficient to meet labour market demands over the next five to 10 years. Digital Marketing, Web Marketing, SE Marketing Specialist, Digital Technology Optimization, and Social Media were identified as the occupations with the greatest undersupply. Digital Marketing and other technology‐related specializations were also viewed as highly relevant to industry and sector needs. Future labour market shortages for a broad range of Business Management occupations were also reported by 18% of Employers. Entrepreneurs were singled out by a few Employers as being in critical future undersupply. The specializations most valued by employers were Leadership & Management and Sustainable Business. Although less frequently selected by Employers as important to their sector or industry, Employers who identified Entrepreneurship placed high value on this specialization. Shortages were less likely to be anticipated in the areas of Human Resources (11%) and Accounting (9%). In Human Resources, future needs for Labour Relations Representatives, Health & Safety Specialists, and HR Generalists were noted. There was high interest among employers in almost all the HR specializations being considered by Fanshawe College, particularly Recruitment & Selection, Training & Development, and Occupational Health & Safety. Employers felt least able to assess future Accounting LKSB Degree Program Feasibility Study • 2011 176
needs, with almost half unable to comment on the likelihood of future shortages. Those who expected future shortages in Accounting felt the shortages would be particularly acute in senior financial positions. Accounting and IT was the specialization most valued by Employers. Skills Gaps The majority of Employers who had recently hired for business positions reported that the skills, training and knowledge of the new hires met their expectations. Satisfaction was highest for new employees in Business Management and Accounting. The following skills gaps were identified by Employers: Some Accounting graduates were perceived to lack skills in analysis, data entry and Microsoft Excel. Some Marketing graduates were viewed as lacking industry specific knowledge and experience, high‐level communication and writing skills, and knowledge of social media and search engine marketing. Some HR graduates were considered to lack full understanding of payroll, skills in Excel, and relevant work experience. Some Business Management graduates were perceived to lack basic people management skills. Employer Perceptions of Postsecondary Business Programs The breadth and depth of theoretical knowledge provided by a university business degree was viewed as its key strength, together with the reputation and prestige of a university education. The focus on theory was also considered to be a major weakness, and a concern that university graduates may not know how to apply their knowledge to the workplace. The most important strength of a business degree earned at college was the hands‐on experience provided in a college setting. The commonly‐held perception of college as inferior to university was the major weakness, along with the potentially narrow specializations of college business degrees. Fanshawe College Business Degrees and Diplomas Two‐thirds of employers endorsed the need for Fanshawe to offer business degree programs. Employers saw college business degrees as an accessible and affordable option for local students who could not get into UWO but wanted to stay in the London area, and who were likely to remain and work in the area after completing their program. Almost two‐thirds of employers supported the continued offering of business diplomas if the business degrees go forward, but several questioned the long‐term viability of business diploma programs. Cautions were raised that employers would increase minimum educational requirements for entry‐level business positions. Skill Sets and Job Performance The majority of Employers believed that college business degree graduates would bring a different set of skills, training and knowledge to the workforce than graduates of university business programs, with several Employers singling out co‐op experience as the key differentiator. LKSB Degree Program Feasibility Study • 2011 177
- Page 285 and 286: Three‐quarters of Current Student
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Figure 3 – Area <strong>of</strong> Responsibility<br />
35% 32.7%<br />
29.1%<br />
30%<br />
25%<br />
20%<br />
15%<br />
10%<br />
5%<br />
14.5% 14.5%<br />
9.1%<br />
0%<br />
HR Business <strong>Marketing</strong> Regional Accounting<br />
B. Executive Summary<br />
This chapter provides an overview <strong>of</strong> labour market trends, opportunities, and employment prospects<br />
for graduates <strong>of</strong> Fanshawe College’s proposed business degree programs through review <strong>of</strong> labour<br />
market information and national, provincial, and regional occupational forecasts and analysis <strong>of</strong> data<br />
collected from 55 interviews with senior representatives <strong>of</strong> businesses, organizations, and regional<br />
economic development associations. Employers who participated in the interviews were from mid‐sized<br />
and large firms across a broad range <strong>of</strong> sectors.<br />
Labour Market Shortages<br />
Employers reported the most significant labour market shortages in the current labour market for<br />
positions in <strong>Marketing</strong> (<strong>Digital</strong> <strong>Marketing</strong> Analyst, Search Engine <strong>Marketing</strong> Specialist, <strong>Digital</strong> <strong>Marketing</strong><br />
Specialist, and SEO Specialist) and Accounting (Taxation Specialist).<br />
<strong>Marketing</strong> was also the business concentration most likely to be identified as facing future shortages,<br />
with fully 20% <strong>of</strong> Employers indicating that supply would be insufficient to meet labour market demands<br />
over the next five to 10 years. <strong>Digital</strong> <strong>Marketing</strong>, Web <strong>Marketing</strong>, SE <strong>Marketing</strong> Specialist, <strong>Digital</strong><br />
Technology Optimization, and Social Media were identified as the occupations with the greatest<br />
undersupply. <strong>Digital</strong> <strong>Marketing</strong> and other technology‐related specializations were also viewed as highly<br />
relevant to industry and sector needs.<br />
Future labour market shortages for a broad range <strong>of</strong> Business Management occupations were also<br />
reported by 18% <strong>of</strong> Employers. Entrepreneurs were singled out by a few Employers as being in critical<br />
future undersupply. The specializations most valued by employers were Leadership & Management and<br />
Sustainable Business. Although less frequently selected by Employers as important to their sector or<br />
industry, Employers who identified Entrepreneurship placed high value on this specialization.<br />
Shortages were less likely to be anticipated in the areas <strong>of</strong> Human Resources (11%) and Accounting (9%).<br />
In Human Resources, future needs for Labour Relations Representatives, Health & Safety Specialists, and<br />
HR Generalists were noted. There was high interest among employers in almost all the HR<br />
specializations being considered by Fanshawe College, particularly Recruitment & Selection, Training &<br />
Development, and Occupational Health & Safety. Employers felt least able to assess future Accounting<br />
LKSB Degree Program Feasibility Study • 2011<br />
176
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