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09 March 2020 | Story Prof Francis Petersen | Photo Sonia Small
Prof Francis Petersen
Professor Francis Petersen is the Rector and Vice-Chancellor of the University of the Free State

The shortage of skills is a global phenomenon and employers are concerned about the need for skilled professionals to meet the demands of various sectors of their economies. This situation has reached worrying proportions in South Africa, where it has become apparent that there is a nonalignment between the skills graduates are equipped with and those that are required in the workforce. 
Moreover, the continuous contraction of the South African economy is further spurring the unemployment crisis: the weak economic performance is not sufficient to create jobs in line with the growth of the working-age population. It is also evident that skills shortages and a lack of social capital have become a systemic problem that prevents access to jobs. 

Preparing graduates for the world of work
Unemployment in South Africa is about 29%, according to Statistics South Africa’s latest Quarterly Labour Force Survey; the unemployment rate of people between the ages of 15 and 34 years is 56%. Earlier this month, President Cyril Ramaphosa announced in his State of the Nation address that the country is facing its highest unemployment rate since 2008. Referring to youth unemployment as a “crisis”, the president said about two-thirds of the 1.2-million young people entering the labour market each year remain outside employment, education, or training.

There is an argument that a university graduate should not necessarily be job-ready, but must have the ability to think, to adapt and to learn relatively quickly. Even with this expectation, it is critically important to understand the world of work and to have a relationship with the job market. This is not only important from a future employment perspective, but it will also bring the job market closer to the academic curriculum and the research agenda of the university. It goes a long way towards starting to co-create solutions and conceptualising futures that are more inclusive and sustainable.

UFS interventions to improve student success
The University of the Free State (UFS) has taken collaboration with the private sector, industry, and commerce very seriously — most of the academic departments have industrial or sector-specific advisory boards through which robust discussions are taking place concerning the curriculum, appropriate funding to students, interventions to improve student success, challenges of the job market, and which research projects are essential to tackle. Through these boards, a relationship between the university, industry, the private sector, and commerce is established. This is a good starting point not only to address employment, but also to provide a catalyst for optimising an ecosystem to address the country’s economic challenges.  

UFS has also established a Short Learning Programmes office, as we believe that training and retraining workers in an ever-changing job market is essential. 
Our proactiveness in creating platforms of engagement with companies about student recruitment — as well as motivating companies, donors, and funders to employ and fund our top graduates — is evident through the work of our Career Services office. Trends in job placement are identified to help us better understand which markets to tailor our programmes to, and to create corporate partnerships for job-training opportunities. Keeping our students informed about career opportunities and equipping them with the skills and grit to make them employable — whether it is to find employment or to start their own business, is the Career Services’ goal.

Developing an entrepreneurial mindset 
Entrepreneurship has a vital role in combating unemployment. Equipping students with an entrepreneurial mindset is a priority, and “entrepreneurial thinking” is one of the university’s key graduate attributes. 

UFS supports the notion that preparing young jobseekers for the ever-evolving world of work is an integral aspect of their learning at university. We offer a compulsory foundation module to expose all of our first-year students to aspects of entrepreneurship, which are also captured throughout the curriculum.  
The UFS Business School has developed initiatives and training programmes specifically aimed at entrepreneurial enterprises. Our Centre for Business Dynamics works with the business sector, helping companies to stay competitive by bridging the gap between existing skills and those required by each industry. Short courses in entrepreneurship are among the tools they use to achieve this. Practical impetus is provided to students with business ideas through our Student Business Incubator; initiatives such as Young Entrepreneurs and the local chapter of Google’s Startup Grind U further stimulate entrepreneurial thinking.

Solving the skills gap
At UFS, we have found that to help the country in solving the skills gap and allow higher education institutions to thrive, various factors, such as industry, region, and job role are important. It has become all too clear that it is not enough to have only technical knowledge — a combination of skills is required for most jobs as technology becomes an integral part of daily tasks in the workplace. Education efforts should focus on areas that set individuals apart from machines and technology. 

There is a need for graduates to evolve with career opportunities, as many employers consider critical and strategic thinking skills as fundamental in middle-management roles. Collaboration, negotiation, emotional intelligence, cognitive flexibility, and resilience are important abilities in the workplace.

With the right skills and networks, our graduates will be able to secure employment, have enterprising mindsets to support and sustain themselves, and contribute to the development of their communities. 

A strong focus on employability as part of the core business of a university and the ability to equip our graduates with the necessary skills will remain crucial factors in the years to come. Our relationship with industry, the private sector, and commerce is crucial to driving this.

This article was published in the Mail&Guardian newspaper on 6 March 2020


News Archive

Number of PhD graduates a record for School of Accountancy
2017-06-27

Description: School of Accountancy PhDs Tags: School of Accountancy PhDs

From left to right: Dr Stiaan Lamprecht,
Dr Cornelie Crous, Prof Hentie van Wyk
(Programme Director: School of Accountancy),
Prof Francis Pietersen (Rector and Vice-Chancellor),
Prof Dave Lubbe (Research Fellow: School of Accountancy),
Dr Léandi Steenkamp and Dr Louis Smidt.
Photo: Charl Devenish

This year’s mid-year graduation ceremony for master’s and doctoral degrees saw the School of Accountancy honouring four alumni with PhDs in Accounting on 26 June 2017 at the Callie Human – a record for the School of Accountancy.

Professor Hentie van Wyk, Programme Director of the School of Accountancy and promoter of one of the doctoral degrees, says, “Over the past three to four decades before 2017, no more than five doctoral degrees were awarded by the School of Accountancy.”

Dr Cornelie Crous, Dr Léandi Steenkamp, and Dr Louis Smidt received their doctoral degrees with specialisation in Auditing, and Dr Stiaan Lamprecht with specialisation in Accounting.

PhD candidates’ thesis and personal profiles
Dr Crous, who was born in Bloemfontein on 30 June 1979, is currently working in the School of Accountancy as a Senior Lecturer in Auditing. Her thesis, which is titled ‘Corporate Governance in South African Higher Education Institutions’, influences the application of corporate governance principles in higher-education institutions. It provides a thorough breakdown of the application and disclosure of the application of corporate governance principles in terms of both South African and international best practices in publicly-funded universities in the country.

Dr Lamprecht’s thesis, ‘A Financial Reporting Framework for South African Listed Companies under Business Rescue’, contributes innovative knowledge and insights to the existing body of knowledge on financial reporting.  According to his study, with reference to a listed company under business rescue, there is a need for an underlying financial reporting assumption that varies from the recognised going concern and liquidation assumptions. Users of the financial statements of such a company also require an accounting measurement model based on current values, as opposed to the mixed-measurements accounting model employed at present.

Dr Smidt completed both his master’s and PhD degrees at the UFS. This father of two sons is currently a lecturer at the Tshwane University of Technology. His thesis, ‘A Maturity Level Assessment on the use of Generalised Audit Software by Internal Audit Functions in the South African Banking Industry’, has already started to contribute to the internal audit profession in South Africa and globally.  Due to its existing extension to internal audit functions in various industries in Canada, Columbia, Portugal, and Australia, the value has been enhanced, as it now provides an internationally correlated set of results.

Dr Steenkamp, who completed her Magister in Auditing with a distinction at the UFS in 2013, is a qualified Chartered Accountant (CA (SA)), Certified Internal Auditor (CIA), Certified Information Systems Auditor (CISA), Professional Accountant (SA), and member of all the professional bodies. Her thesis, ‘The Sectional Title Industry in South Africa: Enhancing Accounting and Auditing Practices’, makes a significant impact on the sectional title industry and the accounting profession in South Africa. The literature review gave an in-depth overview of risks associated with sectional title for various stakeholders (i.e. owners, trustees, managing agents, auditors and accountants, and EAAB-appointed inspectors).

“Indeed a special day for the School of Accountancy!” says an ecstatic Prof Van Wyk. Professor Dave Lubbe, Research Fellow in the School of Accountancy, was the promoter for three of the four doctoral degrees.

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