Here’s a possible reason for the escalating talent shortage in companies worldwide – an inability to meet expectations of young talent who do want to join companies.
High percentages of recent graduates report that salaries offered are low and there’s a lack of learning experiences that advance their careers.
Those were among the main findings of the College Graduate Employment Survey by Accenture.
While almost all (90%) graduates expect to find a job in their field of study, only 64% of them stated they have been successful in doing so.
Instead, 49% of the 2013 and 2014 graduates feel that they are underemployed or working in a job which does not require a degree.
In addition, training expectations of such young talent are not being met.
While 77% of college graduates expect to receive formal training at their first job, only half of them stated their employers provided formal training opportunities.
“The gap between expectations for training and the reality of what recent grads have experienced presents employers with a significant opportunity to differentiate during the recruiting and retention parts of the talent supply chain,” the report stated.
“It’s also a way to strengthen the organisation through ongoing capability development.”
Young talent have also reported being let down in terms of the compensation they had hoped to earn.
More than four out 10 (41%) of recent grads stated they are making $25,000, far less than the $50,000 expected by 27% of them.
“It’s important to engage with recruits earlier in the supply chain. If you don’t have an internship program, it’s time to start one,” the report stated.
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