Only 16% of graduates looking for their first job since March have been successful, with the new cohort of graduates from the summer set to hit ‘job hunt fatigue’ by Christmas – claims staffing business Walters People, who surveyed 2,000 UK graduates.
Job market confidence amongst the young (18-24 yrs) has dropped by almost 20%. In 2019, 85% of graduates felt optimistic about their future, compared to 67% of graduates in 2020.
Phil Westcott, the director of Walters People, claims that “In times of crisis or uncertainty, companies tend to hire experience over potential – which is why the junior-end of the jobs market has been so badly hit.” He further states that this means companies are losing out on a “generation of new ideas”, which is key in any field of work.
Compared to 2019, the average time it takes to find a new job is much higher. It has dropped from one third to one quarter of students finding a job before the end of their course or training. The earning potential for those has also decreased, meaning the future looks bleak for new graduates.
Three quarters of young graduates (70%) directly blame Covid-19 for their delayed or lack of entry into the workforce, yet only 6% have taken this opportunity to upskill in other areas outside of their degree choice.
Westcott adds: “Things are not the same, and times have changed very rapidly and so my advice to young job seekers is to approach your job hunt differently to what you would have done pre-Covid.” With video interviews and remote working environments, there is a call for a change.
Westcott highlights the way that you can change you approach to the new job market saying:
“Rather than email or submitting a CV, revamp your approach by creating a quick video detailing your experience whilst illustrating your personality. Start to understand the key words and skills in your preferred job specs and align your LinkedIn and online profiles to reflect this.
“In this current market you have to almost ‘convince’ a business as to why they need you – be bold in your approach, share ideas, show your passion for the industry, and get across why you believe change can lead to opportunity – as this is the type of mindset that a business is seeking from any new starter, be it junior or someone much more experienced.”