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Organisations across the UK and beyond are facing an unprecedented surge in graduate applications, reshaping the recruitment landscape.
But how are graduates making their choices? And is the current, tougher economic market impacting their choices and behaviours?
The simple answer is yes, but what are the implications for graduate employers?
Office vs Hybrid
Research a couple of months ago by International Workplace Group highlighted that 49% of graduates would not consider applying for jobs that require them to be in office five days a week. Aa further fifth (18%) said they would have to seriously reconsider applying for roles that did not offer flexible working.
However at TMP Worldwide, we’re noticing that many employers are holding the line around full-time presence in office without a real impact on application volumes.
And a recent poll by Ploy, supported this with 80% of students / grads looking for their first job stating that they would you accept a graduate position 5 days a week in the office.
Whilst candidates may be more prepared to be primarily office based in their first job, workplace flexibility remains a powerful and valued retention tool for employers wanting to keep people longer term.
Hustle culture vs long-term jobs?
Same goes for job-hopping vs. building a career with one employer.
The popular view was that Gen Zers showed little corporate loyalty, preferring to move quickly if better opportunities came up. Frustrating employers investing in new hires and grad programmes.
However research from the insurer Admiral suggests a shift back to an ‘employer for life’ mindset – with younger workers favouring stability, progression, and belonging over quick ‘wins’ in new situations.
In fact, the average Gen Z employee now wants to stay in their job for seven years – twice the 3.5 year average tenure reported in analysis of official statistics.
Be prepared to showcase the wrap around offer available in the first 3-5+ years to secure hires willing to invest in your business.
EDI & Culture
And finally how do young workers view organisations stepping back from previous EDI & CSR commitments? These were the pledges often sitting at the heart of the brand proposition?
A poll from TMP Worldwide shows that whilst Gen Z continue to be motivated by organisations with a strong sense of social purpose, this doesn’t ultimately alter their job-hunting strategies as much as we might think. 80% of the students agreed that they would still accept an offer from employers that had reduced their public commitment towards DE&I & CSR.
And 72% agreed that they were now applying to employers in sectors they had previously dismissed as not matching their values.
But be mindful employers.
These adjustments are in response to the current environment and not necessarily in candidates’ values. Turbulent economics conditions globally, lower levels of vacancies and greater competition may affect choices but not values. To take your eyes off the ball would be foolish.
Data from the global Edelman Trust Barometer puts the UK outside of the top 20 countries where employers are ‘trusted to do the right thing’ – a 4 point drop on its position in 2024. People have lost trust in lots of areas.
To attract and keep the very best candidates, in what continues to be a highly volatile world, only those organisations with clear and declared values, reflected in their brand and offer will be in the running.
