Intern Avenue has had a look at the most recently published HECSU data (2014 Academic year) tracking UK graduate transition into the job market. Our research yields some alarming insights into graduate employment statistics.
The 2014 Academic year saw 338,230 proud UK graduates complete their first degree. Of those leaving university the vast majority did not enter full-time graduate level employment. (See graph below for destinations)
The further we delved into the graduate employment statistics, the more disheartening the picture became. Of those who were lucky enough to find a full-time job, 31.8% of graduates were in roles that didn’t even require a degree. Let us put this into perspective: the amount of university tuition fees “wasted” for these 60,769 graduates equates to approximately £1.6 billion in 2014.
This figure shows the astonishing number of graduates that are currently in full-time employment where their degrees and education are undervalued. With 43,293 graduates only working part-time, 21,308 still unemployed and a further 60,769 graduates in roles unsuited to their education level. This totals 125,370 graduates who aren’t in a full time position suited to their education level, equating to £3.4 billion worth of “wasted” tuition fees.
These fresh, energetic and talented young people need employers to recognise their value and potential – the UK needs to invest in it’s own future!
Dupsy Abiola, CEO of Intern Avenue has a view:
‘I am disappointed and concerned that our valuable stream of graduate talent is being undervalued by UK employers.’
While pleasing to note that the post-recession trend is in the right direction, there still remains huge opportunity for UK employers to reap the benefit of the skills and energy of this valuable resource.’
This also leaves us with a substantial group of potential employers who must be helped to recognise the value in this emerging talent pool. If we could make just a 2% impact on this situation, almost 2,600 graduates could be either in employment or indeed in the right employment.
So what are the challenges?
How do employers reach candidates?
How do students and graduates find employment opportunities?
Where is the match point for the two needs to meet?
Employers and graduates speak a different language and through different media platforms.
Which platforms do employers use to communicate?
Which platforms do graduates use to communicate?
Where can employers & graduates find a common channel for communication?
It can be difficult to find relevance between a graduate CV and a job description.
How can a robust graduate profile be provided that can help the employer make an informed judgement on quality applicants for an appropriate role?
What Intern Avenue can do to ‘Help you, Help them’
‘Intern Avenue is dedicated to finding value for both employer and employee – and as Final year students turn their minds to last exams, we want to help them with what happens next – and you can too!’
We want to help you help these graduates find an internship or graduate job that matches their talent. We want you to benefit from this as much as they will by finding the perfect candidate. Our platform and our technology can overcome the challenges identified:
- We provide a space in between Facebook and LinkedIn in which employers and candidates can communicate directly.
- Our candidates’ profiles mean that they are notified as soon as a role becomes available that matches their qualification, their skills and their location.
- The profiles are easily comparable and a quick glance is enough to spot your perfect new graduate or intern.
So, help us on our mission to help these graduates find their perfect graduate job or internship today!
Looking to hire a graduate? Call us on 020 7898 3800 to speak to a member of IA Team
or use the code GRAD30 when you signup to our Starter, Basic, or Pro packages to get a 30% discount
Higher Education Career Services Unit http://www.hecsu.ac.uk/