The Class of 2024: What employers need to know about this year’s grads

September 5, 2024

 

Rachel Findlay

4 min read

A new wave of talent is entering the workforce, and this year’s graduates are eager to put their university education into action. Our Class of 2024 Report reveals what the UK’s newest workers really think about salary transparency, job perks and the use of AI in the hiring process.

Explore the highlights from our survey of more than 1,000 final-year university students.

This tech-savvy generation expects efficiency

The job hunt can be an exhausting experience, especially for graduates who have been applying for roles throughout their last year of university. The class of 2024 wants speed in all aspects of the job search – including quick responses and efficient processes. Forty-five percent say a quick and easy application, such as text message or one-click apply, would make them more inclined to apply for a job.

The bottom line? Born at the turn of the millennium, this generation grew up during a tech revolution. They embrace modern tech and expect it to work smoothly.

Employers who want to stand out should consider making their application process easier for candidates. Tools like iCIMS Applicant Tracking System help recruiting teams focus less on manual tasks and more on getting great candidates hired.

Uncertainty looms over UK graduates

With a new government in seat and a cost-of-living crisis to contend with, UK graduates are entering the workforce at a tumultuous time – and it’s inevitably playing a role in defining their expectations.

The result? High salary demands of the pandemic era job search are waning. The majority of 16–24-year-olds expect to make between £15,000-30,000 in their first full-time job after university, with a fifth (20%) of the overall class expecting to make between £25,000 and £30,000 annually.

In other words, graduates are balancing the concern of inflation with the fear of not being able to find a job. Employers can position themselves favorably with younger candidates by being transparent about salary ranges in their job descriptions.

Stability and growth are top of mind

While seeking a stellar salary may feel out of reach for this generation, they are switching their attention to long-term benefits that will secure their future. In fact, stability and opportunities for growth are now the biggest drivers in application decisions for graduates. Over half (51%) rank opportunities for growth or advancement in their top three criteria to consider other than salary when applying to a position, while 47% rank company stability and job security in their top three.

This generation is looking for the long-term stability they lacked in recent years, and it’s important to them that their career progression is valued. For many, that means a willingness to accept short-term sacrifice for long-term gain. Employers would do well to consider implementing an internal career site that promotes growth opportunities and helps employees plan (and train) for their next role.

They are prepared to go the extra mile

This generation is no stranger to change – and while the labor market fluctuates, they are prepared to go the extra mile to secure a role. Over a third (34%) say they will apply to more job roles to increase their chances of landing a job as a direct result of uncertainty, meanwhile 30% say they are applying to a wider variety of industries and job roles.

What does this mean for employers? Leaders are set to see a tenacious cohort entering the workforce. And while they are prepared for change, they have certain expectations. The flashy perks that may have drawn in entry-level talent in the past are no longer dominating recent graduates’ employer wish lists. Offering real benefits that add to their quality of life is imperative for this generation.

They’re using AI across the recruitment process

Considering the challenges that lie ahead of graduates entering today’s labor market, it’s no wonder they are getting creative in their search. Many young workers in the UK are looking at how they can ease the burden of lengthy recruiting processes, using AI to streamline and expedite their applications. An overwhelming 79% of graduates say they have considered using AI to aid the job application and interview process, using it for everything from interview prep to CV writing.

While Gen Z talent may be taking matters into their own hands, employers also hold responsibility in using AI to streamline efficiency for candidates. Gen AI recruiting assistants, like iCIMS Copilot, are helping TA teams make smarter hiring decisions, accelerate recruiting workflows and unlock breakthrough efficiencies. The younger generation of talent is jumping on the AI bandwagon, and to attract this class, employers must follow suit in embracing tools that speed up recruiting processes.

Authenticity is everything

For Gen Z talent, it’s easy to spot false company culture on career sites and social media pages. Forty-five percent said positive company reviews would make them more likely to apply for a role, while 27% said testimonial videos would work for them.

The Class of 2024 isn’t afraid to do their research, and with the click of a mouse (or tap of a phone screen), they can find out all the information they need on what it’s like to work with you. It’s important that employers show the current reality of their workplace culture at present while highlighting company objectives for the future. Tools like iCIMS Video Studio let employers create low-lift recruiting videos that showcase the voices of those who matter most – your people.

Want to know more about hiring this year’s grads?

Download the full report today and learn what employers need to know about how UK grads are approaching today’s job market.