How College Graduates’ Expectations and Attitudes Affect the Recruitment Process

It’s that time of year again—graduation season. And with the influx of new grads ready to enter the job market, now more than ever is the opportune time for employers to prepare themselves to attract younger workers.

But how can they do this?

Well, global management consulting, technology services and outsourcing company, Accenture, is here to help.  The company recently released its 2^nd annual Accenture 2014 College Graduate Employment Survey , which compares the expectations and attitudes of this year’s university graduates with the realities of the working world according to 2012 and 2013 grads.

Knowing the expectations and attitudes of the Class of 2014 can help businesses as they seek the best strategies for attracting top talent. So, below are some key takeaways from Accenture’s survey to provide insight into what recent grads are looking for and their perspectives when it comes to the job search and careers:

Expectations versus Reality

One important area the survey covered was the expectations of graduates versus their realities. And one significant reality is that many employers are not effectively developing their entry-level talent.

• Expectation: The survey revealed that 69 percent of 2014 grads believe more training or post-graduate education will be necessary for them to land their desired job. Also, four out of five (80 percent) expect that their employer will provide the kind of formal training programs necessary for them to advance their careers.

• Reality: Not even half (48%) of 2012 and 2013 graduates received formal training on their first job.

• Expectation: The survey found that 84 percent of 2014 grads believe they will find employment in their chosen field, and 61 percent expect that job to be full time.

• Reality:Again, reality paints a much different picture as 46 percent of 2012 and 2013 graduates reported having a full-time job, while another 13 percent have been unemployed since graduation.

• Expectation: Although 66 percent of 2014 grads expect to keep their first job more than three years, only 44 percent of 2012 and 2013 grads expect to be there that long.

• Reality: More than half (56 percent) of 2012 and 2013 grads have already left their first job or expect to be gone within one or two years.

• Expectation: Among the 2014 survey respondents, 43 percent expect to earn more than $40,000 at their first job.

• Reality: In an overwhelming contrast, only 21 percent of the 2012 and 2013 grads actually in the workforce are earning at that level. Shockingly, one-fourth of those workers (26 percent) are making less than $19,000.

Another reality from the survey is that 46 percent of 2012 and 2013 grads working today report that they are underemployed, i.e. working in a job that does not require their college degree, which is a 5 percent increase from last year’s survey.

Market-Oriented and Flexible

The survey data also noted that recent graduates are becoming more market-oriented when it comes to career choices. A whopping 75 percent of students who are graduating this year took into account the availability of jobs in their field before deciding their major. This, the survey explains, is an increase compared to 70 percent of 2013 graduates and 65 percent of those in the class of 2012.

Graduates are also willing to be flexible when it comes to securing employment. Nearly three-quarters (74 percent) of pending 2014 grads said they would be willing to relocate to another state to find work, and as the survey explains, 40 percent of those would be willing to move 1,000 miles or more to land a job. Only 21 percent of 2012 and 2013 graduates said they relocated for a job.

What Does this Mean for Employers?

The data highlighted graduates’ expectations versus their realities and their views when it comes to their role in securing employment, but what does all of it mean for employers? Well, Accenture has that information covered. The company offered three helpful tips for employers to utilize the survey data to improve its talent acquisition strategy for recent graduates.

The tips are as follows:

1. Reassess your hiring and retention strategies. If the jobs you seek to fill do not require a distinctive educational background, Accenture says change your hiring approach. Applicants with overly sterling qualifications may take a job out of necessity, but they may not stay long. Better to set your sights on other factors.

2. Hire based on potential, not just immediate qualifications. HR filters also fail many companies by screening out great candidates because their resumes don’t have the required keywords—phrases that are sometimes overly technical. Accenture reminds employers that recent graduates aren’t going to have every skill you’re looking for. Instead, look for candidates that demonstrate a desire for continued learning and enthusiasm for the job at hand. Look too for transferable skills, including communication and problem- solving capabilities, which can be applied in a variety of situations.

3. Use talent development as a hiring differentiator. Today’s college graduates are considering the availability of training as they make their decision about who to work for. If your training for new and recent hires is distinctive, Accenture advises to be sure to figure that into your social media presence and in your discussions with candidates.