Contemporary Business Studies - Academy of Knowledge Process ...

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International Journal of Contemporary Business StudiesVol: 4, No: 2. February, 2013 ISSN 2156-7506Available online at http://www.akpinsight.webs.comeven when the outcome is uncertain; they can tolerate the unambiguous situation; they get a sense ofaccomplishment and persist in their goals; they are autonomous and able to adapt to changing conditions;and they work independently, but can cooperate with others if they need to. Understanding one’s ownresilience and providing opportunities to enhance it should help the individual overcome career barriers.Waterman et al. (1994) and Collard et al. (1996) promoted building a resilient workforce in response tothe changing and competitive workplace. From their point of view, resilient workers should takeresponsibility for their own career management and enhance their employability skills.2.6 Work IdentityWork identity describes one’s self-definition in the career context; it provides direction for futureopportunities and behaviors, at the same time organizing his or her past experience (Fugate, 2006).According to Fugate et al. (2004), work identity resembles constructs like role identity, occupationalidentity, and organizational identity in that they all refer to how people define themselves in a particularwork context. In other words, people who define themselves as employable tend to exhibit attitudes andbehaviors that are consistent with the perception that they are employable, which also influences theirpersonal career goals and ambitions (DiRenzo, 2010). Specifically, work identity refers to the extent towhich one’s career is central to one’s identity. Research has found that people who have lesser work roleshave lower career aspirations, do less career planning, and are less satisfied with their careers (Valcourand Ladge, 2008).The research done by McArdle et al. (2007) proposes that, by being proactive and adaptable andmaintaining a strong work identity, employable individuals may be more likely to see the positiveoutcomes that can come from unemployment. As a consequence, unemployed people may use job loss asa time for critical reflection on career identity and direction. In other words, unemployment could serve asan opportunity to affect change and strengthen one’s career identity, thus maintaining a positive selfesteemdespite being unemployed.Work identity works together with self-efficacy to facilitateidentification of career opportunities and pursuit of career goals (Valcour et al., 2008). Bandura (1997)refers self-efficacy as individuals’ beliefs about their abilities to solve tasks or take on certain roles (ascited by Berntson, 2008). Meanwhile, Stajkovic, and Luthans (1998) said that self-efficacy also representsan individual‘s confidence in his or her ability to be successful at specific tasks or within a given context(as cited by DiRenzo, 2010).2.7 Human CapitalHuman capital theory suggests that education or training raises the productivity of workers byimpartinguseful knowledge and skills, hence raising workers’ future income by increasing their lifetimeearnings(Becker, 1964). Becker (1964) and Mincer (1974) provide an explanation that links investment intrainingwith workers’ wages. In particular, their theory draws a crucial distinction between generaleducation andfirm-specific training. While Becker (1964) suggests that education or training raise the productivity ofworkers by impartinguseful knowledge and skills, others provide different explanations for how educationis related to worker productivity. One is based on the argument that the higher earnings of educatedworkers simply reflect theirsuperior ability acquired during the process of education, rather than throughskills and knowledge. Spence(1973) argues that education is used as a market signal to indicate thepotential productivity of workers.Human capital is “generally understood to consist of the individual’s capabilities, knowledge, skills andexperience of the company’s employees and managers, as they are relevant to the task at hand, as well asthe capacity to add to this reservoir of knowledge, skills, and experience through individual learning”(Dess&Picken 2000:8).For another example, a recent study by Crossman and Clarke (2009) hasfound2013©Academy of Knowledge Process10
International Journal of Contemporary Business StudiesVol: 4, No: 2. February, 2013 ISSN 2156-7506Available online at http://www.akpinsight.webs.comemployers to favour graduates with international experience as theywere perceived to have good benefitsand outcomes such as networkingpotential, experiential learning opportunity, additional languageacquisition,and the development of soft skills. Working experience is a good example ofthe significanceof human capital in the role of seeking employment as it isone way for graduates to demonstrate what keyemployability skills they haveacquired by providing this evidence of work-related or experientiallearning(as cited in Crossman and Clarke, 2009).Lastly, according to a study by Bernstein (1976), graduates with practical experience such as workingexperiences have positive changes in feelings of personal and social efficacy, also resulting in showing agreater sense of responsibility and career development which eventually leads toward high employability(as cited in Muhamad, Yahya, Shahimi, and Mahzan, 2009).2.8 Social CapitalThe concept of social capital is currently receiving a lot of attention fromdevelopment agencies andresearch institutions. Falk and Kilpatrick (1999) argue that the accumulation of social capital is theoutcome of the process of learning interactions. Learning interactions require a learning event (an actualoccasion) and occur in a contextual dimension (the broad, socio-cultural and political frame of reference).A precondition to building social capital is the existence of a sufficient quantity and quality of learninginteractions. For example Falk and Kilpatrick suggest that quality learning interactions includes anhistorical context, external interactions, reciprocity, trust, shared norms and values.The planning and implementation of community projects may be one such learning interaction. Uphoff(1999) distinguishes between structural and cognitive social capital. Structural social capital involvesvarious forms of social organization, including roles, rules, precedents and procedures as well as a varietyof networks that contribute to cooperation. Cognitive social capital includes norms, values, attitudes andbeliefs. Structural and cognitive social capital is complimentary: structures help translate norms andbeliefs into well coordinated goal-orientated behaviour.Other authors (Sabel, 1994) argue that social capital builds up as a result of all actors committingthemselves to ongoing negotiations based on shared understanding of common goals. Hechter (1987)suggest a multistage process for building group solidarity. Having joined together members must deviserules and procedures, which get institutionalized over time. Internalizing rules and procedures, membersmoderate their behaviour so that these correspond to the expectations others have. This build up of socialcapital of formal rules and mutual expectations facilitates extending group activities into previouslyunexplored areas.3.0 PROPOSED THEORETICAL FRAMEWORK3.1 Fugate, Kinicki and Ashforth (2004)Fugate et al. (2004) provide not only the conceptual foundation for the construct of employability but alsoprovides the conceptual glue that integrates the component dimensions of employability (i.e. careeridentity, personal adaptability and social and human capital). Fugate et al. (2004) argued thatemployability captures the aspects of each of the three dimensions that facilitate the identifications andrealization of career opportunities within and between organizations. Please refer to figure 3.1 below.2013©Academy of Knowledge Process11
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