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Friday, 7 July 2017

2017’s ambitious and prepared graduates feel under-employed

Accenture Strategy’s 2017 UK Grad Employment Study reveals that young people feel under-resourced in graduate level roles, with 71% citing that they feel under-employed.
That figure is up from 2015’s figure of 60% and is in contrast to the increased number of graduates employed full-time in their field of study, up from 46% to 60% in the last 12 months.
The report finds that while the job market for grads is strong, the roles on offer don’t go far enough to tap graduate skills.
Accenture’s report highlights the need for employers to get an understanding of what motivates Gen Z in order to retain them in the longer term.
For example, this year’s cohort value human interaction and communication skills. And while 68% welcome AI and other advanced technologies in enhancing their experience, they prefer to interact with colleagues face-to-face. Those employers who can provide a personalised and meaningful graduate experience are most likely to retain better graduate talent for longer.
These new entrants to the job market are flexible and loyal. 85% of graduates set out to stay with their employer for at least 2 years. When a company invests in their learning and development, graduates are three times more likely to stay for 5 years or more.
54% expect on-the-job training, 51% expect formal training and 46% expect shadowing.
And while this year’s crop of graduates is also ambitious and prepared, with 63% expecting full-time employment in their area of study, 83% are willing to relocate to a different region for the right job.
Given the current economy, it’s likely that they will have to. 39% of 2017 graduates will look for a job in a different city, while 36% will commute.
Nearly 9 out of 10 considered job availability when choosing their course, with most preferring to enter fields offering long term growth. STEM was the most popular major this year – up to 41% against last year’s figure of 30%. 
82% of new graduates who had completed an internship, apprenticeship or co-op secured a job post-graduation. 
However, their salary expectations do not line up with the experiences of recent graduates. 85% of 2017 grads expect to earn more than £25,000, but only 70% of 2015/16 grads do.

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