The 2016 CBI/Pearson Education and Skills Survey “The Right Combination” was published yesterday, and makes excellent reading for graduates as demand from employers for their higher level skills continues and is projected to rise in the coming years. As for employers, they have high levels of satisfaction with their graduate recruits and know just how critical the right skills are when someone enters the workforce – however there are concerns over the numbers of graduates available to meet high-skills gaps.
The survey, conducted across the UK during April-May 2016, received nearly 500 responses from employers of all sizes (51% SMEs) accounting for the employment of more than 3.2million people. Over 40% of respondents had some staff in the South West. Below we provide the headline messages from the report for you.
Key messages for graduates and graduate recruiters:
Demand for higher skills is rising fast
- More than three quarters of businesses (77%) expect to have more job openings for people with higher-level skills over the coming years while just 3% expect to have fewer.
- The proportion of businesses not confident there will be enough people available in the future with the skills to fill their high-skilled jobs has reached a new high (69%).
- More than four in five businesses (84%) will be maintaining or increasing their investment in training in the year ahead.
- Fewer than one in ten businesses (9%) has cut back on graduate recruitment in the past year while 29% increased their graduate intakes, giving a positive balance of +20% increasing graduate recruitment. This represents a further expansion in graduate jobs, following positive balances of increased graduate intakes of +13% in 2015 and +18% in 2014.
Ensuring graduates have the skills for successful careers
- Businesses look first and foremost for graduates with the right attitudes and aptitudes to enable them to be effective in the workplace – nearly nine in ten employers (87%) rank these in their top considerations, far above factors such as the university attended (13%).
- For nearly two thirds of businesses the degree subject studied is also among the top three considerations (cited by 65%), particularly in sectors such as manufacturing and among engineering, science & hi-tech firms (86% and 83% respectively).
- Many businesses are satisfied with graduates’ basic skills and general readiness for employment, with more than four in five firms reporting satisfaction or better with graduates numeracy (91%) and literacy skills (86%), and nearly the same proportion satisfied or better with graduates’ problem solving (79%) and communication skills (77%).
So the messages are pretty clear – demand for the higher-level skills that graduates bring to the workforce are very much in demand, and that demand is set to grow.
To delve into further details see the full report.
To recruit a recent graduate or to find a graduate job here in the South West go to: www.gradsouthwest.com
Dr Deborah Watson, Director, Gradsouthwest Ltd.