We have all been there at one point or another in our lives, job hunting. It’s not the easiest of feats to complete despite the ease with which the words, “go get a job!” may roll off the tongues of our significant other or family members.
In reality, finding a job is a job in itself! Information is your greatest ally because if you don’t know who is hiring then you are forced to go door-to-door dropping off your CV with companies in the hope that someone will say, “what luck, we were actually talking about hiring someone with your exact skillset just this morning!” Not the likeliest of scenarios as I’m sure you’d agree. So how do we collected this much needed information? Newspapers of course.
This has been the space in which you are guaranteed to find up-to-the-week information about companies that have vacancies. But there’s a catch. Which paper do you buy? Employers have a choice of advertising on any newspaper they choose. Your larger companies with bigger advertising budgets can foot the bill to advertise across multiple papers in any given week.
They do this to increase the reach of the vacancies they are advertising because they don’t know which paper the perfect candidate prefers to read. The job seeker doesn’t have the luxury of knowing what and where vacancies will be advertised, so forced to buy as many newspapers as they can afford for as long as they are looking for a job.
This is the beauty of online job boards. Their purpose is to help you find a job whilst saving you time and money. Online job boards are websites that connect the employer to the employee by sharing up-to-the-minute information. They provide a space where the employers can advertise vacancies in their company that job seekers can find in a central location.
These sites have been around for almost over 15 years now and finally in Botswana we have developed one for our market, Careerpool. This is a job board that will revolutionize the manner in which employers and employees share information with one another. With the cost ranging from negligible to nothing.
As a job seeker you now don’t need to purchase multiple newspapers and troll them for jobs that have been advertised. Careerpool now offers a central location where all available vacancies are listed for you to peruse at your convenience, through whatever device you have at your disposal with internet connectivity.
The timing couldn’t be more perfect for this technology as the telecommunications providers fight to provide the most affordable data for their clients. So this means searching for a job online will not burn a hole in your pocket. Careerpool and other international job boards of its kind boats exciting electronic recruitment functions for both employer and employee. For the job seeker, they can upload their CV to the site and setup job alerts.
This function allows the user to input their desired field of expertise and request to be alerted by mail of all jobs advertised on Careerpool that require the said expertise. So now you are automating your job searching minimizing the work involved!
The job adverts literally come to you on your device wherever you are in the world. True convenience and tangible cost cutting for the job seeker like they have never before seen or experienced. As now the time spent going to the site to check for advertised jobs is brought to a minimal. This kind of convenience is enjoyed by the employer as well.
The job adverts they post on Careerpool are guaranteed to get to the right people within the desired time as a result of them advertising on a centralized location where job seekers are present and have set about automating the process of receiving information on relevant vacancies. It is peace of mind that the fraction of the budget spent advertising on Careerpool will yield the desired result, people knowing about the vacancies and applying accordingly. The e-recruitment functions don’t end there.
I can’t tell you how many companies are struggling with the proper management of the CV’s that they receive on a daily basis. Through no fault of their own, mounds and mounds of CV’s pile up in offices and on desks in human resources departments. CV’s of people who were sent out of the comfort of their homes to, “go find a job!” by loved ones.
Hoping and praying that they are in luck and there is a position available for them at your company. This isn’t always true, in fact almost never. If companies do accept their CV’s they just join the pile of obscurity and are lost amongst all the others that came before it. But here’s the thing, your skill and experience might be of great value to the company at a later stage but now finding you in the heaps of non-impressive CV’s is a tall task for any practitioner.
Careerpool allows employers the opportunity to start their own digital talent pool within Careerpool. A talent pool that belongs to only them. When companies place adverts they can instruct candidates to apply directly to the site thereby growing this pool. Once the advert is closed and the candidate has been selected the unsuccessful candidates don’t get thrown out into the CV graveyard. Now they will form the basis of your talent pool.
A pool that you can come back to at a later stage with a new vacancy, if the system, instructed by you, deems they have fulfilled the minimum requirements outlined in your advert. The candidates who had previously applied and were unsuccessful may just be the perfect candidates for upcoming jobs. Nifty right? There is a fractional cost option to advertise jobs online through sites like Careerpool. They have a great reach and appeal with job seekers.
Not to mention the e-recruitment functions that go beyond just advertising. It’s easy to see why job board technology is here to revolutionize the recruitment process forever. It takes the work, out of finding a job! So whether job seeker or hr practitioner, search www.careerpoolbotswana.com, the job board designed for Batswana to reap the benefits of this world wide technological advancement.
This century is always looking at improving new super high speed technology to make life easier. On the other hand, beckoning as an emerging fierce reversal force to equally match or dominate this life enhancing super new tech, comes swift human adversaries which seem to have come to make living on earth even more difficult.
The recent discovery of a pandemic, Covid-19, which moves at a pace of unimaginable and unpredictable proportions; locking people inside homes and barring human interactions with its dreaded death threat, is currently being felt.
Member of Parliament for Kanye North, Thapelo Letsholo has cautioned Government against excessive borrowing and poorly managed debt levels.
He was speaking in Parliament on Tuesday delivering Parliament’s Finance Committee report after assessing a motion that sought to raise Government Bond program ceiling to P30 billion, a big jump from the initial P15 Billion.
Government Investment Account (GIA) which forms part of the Pula fund has been significantly drawn down to finance Botswana’s budget deficits since 2008/09 Global financial crises.
The 2009 global economic recession triggered the collapse of financial markets in the United States, sending waves of shock across world economies, eroding business sentiment, and causing financiers of trade to excise heightened caution and hold onto their cash.
The ripple effects of this economic catastrophe were mostly felt by low to middle income resource based economies, amplifying their vulnerability to external shocks. The diamond industry which forms the gist of Botswana’s economic make up collapsed to zero trade levels across the entire value chain.
The Upstream, where Botswana gathers much of its diamond revenue was adversely impacted by muted demand in the Midstream. The situation was exacerbated by zero appetite of polished goods by jewelry manufacturers and retail outlets due to lowered tail end consumer demand.
This resulted in sharp decline of Government revenue, ballooned budget deficits and suspension of some developmental projects. To finance the deficit and some prioritized national development projects, government had to dip into cash balances, foreign reserves and borrow both externally and locally.
Much of drawing was from Government Investment Account as opposed to drawing from foreign reserve component of the Pula Fund; the latter was spared as a fiscal buffer for the worst rainy days.
Consequently this resulted in significant decline in funds held in the Government Investment Account (GIA). The account serves as Government’s main savings depository and fund for national policy objectives.
However as the world emerged from the 2009 recession government revenue graph picked up to pre recession levels before going down again around 2016/17 owing to challenges in the diamond industry.
Due to a number of budget surpluses from 2012/13 financial year the Government Investment Account started expanding back to P30 billion levels before a series of budget deficits in the National Development Plan 11 pushed it back to decline a decline wave.
When the National Development Plan 11 commenced three (3) financial years ago, government announced that the first half of the NDP would run at budget deficits.
This as explained by Minister of Finance in 2017 would be occasioned by decline in diamond revenue mainly due to government forfeiting some of its dividend from Debswana to fund mine expansion projects.
Cumulatively since 2017/18 to 2019/20 financial year the budget deficit totaled to over P16 billion, of which was financed by both external and domestic borrowing and drawing down from government cash balances. Drawing down from government cash balances meant significant withdrawals from the Government Investment Account.
The Government Investment Account (GIA) was established in accordance with Section 35 of the Bank of Botswana Act Cap. 55:01. The Account represents Government’s share of the Botswana‘s foreign exchange reserves, its investment and management strategies are aligned to the Bank of Botswana’s foreign exchange reserves management and investment guidelines.
Government Investment Account, comprises of Pula denominated deposits at the Bank of Botswana and held in the Pula Fund, which is the long-term investment tranche of the foreign exchange reserves.
In June 2017 while answering a question from Bogolo Kenewendo, the then Minister of Finance & Economic Development Kenneth Mathambo told parliament that as of June 30, 2017, the total assets in the Pula Fund was P56.818 billion, of which the balance in the GIA was P30.832 billion.
Kenewendo was still a back bench specially elected Member of Parliament before ascending to cabinet post in 2018. Last week Minister of Finance & Economic Development, Dr Thapelo Matsheka, when presenting a motion to raise government local borrowing ceiling from P15 billion to P30 Billion told parliament that as of December 2019 Government Investment Account amounted to P18.3 billion.
Dr Matsheka further told parliament that prior to financial crisis of 2008/9 the account amounted to P30.5 billion (41 % of GDP) in December of 2008 while as at December 2019 it stood at P18.3 billion (only 9 % of GDP) mirroring a total decline by P11 billion in the entire 11 years.
Back in 2017 Parliament was also told that the Government Investment Account may be drawn-down or added to, in line with actuations in the Government’s expenditure and revenue outturns. “This is intended to provide the Government with appropriate funds to execute its functions and responsibilities effectively and efficiently” said Mathambo, then Minister of Finance.
Acknowledging the need to draw down from GIA no more, current Minister of Finance Dr Matsheka said “It is under this background that it would be advisable to avoid excessive draw down from this account to preserve it as a financial buffer”
He further cautioned “The danger with substantially reduced financial buffers is that when an economic shock occurs or a disaster descends upon us and adversely affects our economy it becomes very difficult for the country to manage such a shock”