Careers guidance drives economic growth

Careers England has launched its latest policy paper: The Economic Benefits of Careers Guidance

Produced by Professor Tristram Hooley and Vanessa Dodd of the International Centre for Guidance Studies (iCeGS) at the University of Derby, the paper clearly demonstrates the significant contribution careers guidance makes to economic growth, both to the individual and society.

The paper states that careers advice does not simply provide expert advice about a difficult decision, but also enhances the human capital of individuals, which delivers economic benefits such as aiding labour market flexibility and enhancing the skill base of the country.

The paper supports the position promoted in Careers England’s recently announced position paper on the future of careers guidance which suggests that the government should re-examine current career guidance policy and consider how it can best maximise the economic benefits.

Professor Hooley commented: ‘Careers guidance makes a vital contribution to the economy. It helps individuals to be well informed, build their skills and to make purposeful and profitable career moves. The research demonstrates that this has a knock effect for the economy by increasing employment and reducing reliance on benefits. 

Katharine Horler, Chair of Careers England added: “This paper makes a compelling case for careers guidance to be at the heart of economic development policies at national, regional and local levels”.

“For the first time all of the research and evidence is clearly documented in one place – the paper demonstrates the most powerful economic argument for careers guidance to date.”