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Report reveals how global economic instability has impacted UK graduates’ expectations for the workforce, driving them to rewrite the rules for their careers
LONDON [14 June] – iCIMS, the talent cloud company, today published the UK Class of 2023 Report to uncover expectations of this year’s graduates as they approach today’s job market. Informed by a survey of 1,000 undergraduate university students in the UK, the report reveals that just as in the early aughts — when these soon-to-be grads were born — an uncertain economy is making graduates wary.
According to the new research, nearly all final-year university students (97%) are considering alternative job-seeking options like applying to more job types, taking a job unrelated to their degree or applying to a post-grad to cushion their entrance. The research found job seekers in the U.S. and France are taking a similar approach to increase their chances of landing a job (97% and 94.3%, respectively). Yet, these worries may not be necessary, as iCIMS data reveals encouraging opportunity for this incoming class, with employers hiring at a steady rate.
”This cohort of graduates entering the workforce has seen tremendous disruption as the labour market flexed and contorted throughout the pandemic, the shift to remote working and now the mainstreaming of generative artificial intelligence,” said Hung Lee, host of the Recruiting Brainfood podcast. ”It is no surprise that they are taking the rational approach of applying for more jobs, even as their expectations from employers continue to rise. We can only wish them the best of luck, do what we can to support and most importantly, do what we can to learn from them.”
While this class is anxious and eager to land a job, they’re also rewriting the rules of what they want in their careers. New rules for engagement include:
”With new ideas, energy and vision, Gen Z talent is driving a modern workplace that other generations might find hard to comprehend,”said Eric Gellé, senior vice president of EMEA, iCIMS. ”The reality is that the future is, and will be, led by Gen Z so if employers don’t look to consider their skills now with the foresight of a future that changes constantly, they may have no future at all. To stay ahead of the competition, businesses must adapt to a new generation of talent entering the workforce. ”
Download the iCIMS UK Class of 2023 Report for more insights and advice on attracting and retaining the newest entrants to the UK workforce, and learn how to use this data to create a hiring process that resonates with Gen Z by registering for this virtual discussion on 29 June. Explore more hiring trends and expectations of Gen Z job seekers in the U.S. and France.
Register for RecFest in Knebworth Park on 6 July to get a demo of iCIMS’ innovative solutions and see how iCIMS is helping organisations including Lloyds Bank and Sysco transform how they build winning workforces.
iCIMS is a leading provider of talent acquisition technology that enables organizations everywhere to build winning workforces. For over 20 years, iCIMS has been at the forefront of talent acquisition transformation. iCIMS empowers thousands of organizations worldwide with the right tools to meet their evolving needs across the talent journey and drive business success. Its AI-powered hiring platform is designed to improve efficiency, cut recruiting costs and build exceptional experiences for candidates and recruiters. For more information, visit www.icims.com.