Rosy job market for new college grads

College graduation season is in full swing and it’s likely that those recent or soon-to-be grads are already applying for any open positions at your company — if they haven’t landed their first post-college job already.

Their timing couldn’t be better. According to a new survey from CareerBuilder, 74% of employers say they plan to hire recent college graduates this year, up from 67% last year and the highest outlook since 2007. Half (50%) also plan to offer recent college graduates higher pay than last year.

That’s great news for recent grads, as well as employers looking to boost their ranks the fresh perspectives young people often bring.

According to Jim Jeffers, metro market manager of staffing agency Robert Half in Madison, the local Dane County job market offers the most opportunities for recent grads who majored in accounting, business administration, or computer science.

“In Madison, manufacturing, tech, engineering, banking, finance, insurance, and health care are all booming industries right now,” says Jeffers. “We anticipate that these industries will keep growing and expanding, and do not anticipate any slowdown of job growth any time soon.”

Jeffers also says he can’t predict what the hiring and salary uptick may mean for current workers, “but anytime there’s an increase in salaries it tends to bode well for employees across the board.”

Even with all this good hiring news, it’s far from a sure thing that a new college grad will land his or her dream job right out of the gates. However, Jeffers says that first job doesn’t need to be “the one.”

“The first job is just that — it doesn’t set the course for your entire professional career.”

According to Jeffers, these are the top six questions he hears from new college grads on the job hunt, along with his answers:

1. I don’t meet all of the requirements listed in the job description — should I apply anyway?

“If you meet three-quarters of the requirements, apply for the job. Some firms write job descriptions for a ‘perfect’ candidate — one who may not exist. If you show solid skills and are eager to learn the rest, you may land an interview.”

2. I have a great internship. How can I approach the firm about parlaying this into a full-time role?

“Talk with your manager sooner rather than later. Express your interest in staying and note how you’d contribute moving forward. Be flexible as to what the entry-level position may look like. If your manager doesn’t have the budget to hire you, ask for referrals to other departments that might.”

3. The career I’m interested in has nothing to do with my major. How do I start my search?

“Branch out to gather the information and resources you need. Tap your professors for ideas and use the resources at your career center. Ask your classmates if their older siblings or parents can advise you. Reach out to people who graduated last year for their input and referrals. Research local firms online to see if they hire new grads. Build your LinkedIn profile and join professional groups in your field of interest.”

4. I can’t get a job without experience, yet I can’t get experience without a job. What should I do?

“For new grads doing some type of work is better than not working at all, so consider taking a temporary position or internship. You can always continue your search while you work and the role could build your network and skills, and may even become full time. Be sure to add any work experience — paid or not — to your resume and LinkedIn profile. Highlight the experience you do have, especially roles that show your soft skills and customer service abilities, as employers place a high value on them. Restaurant and retail jobs, volunteer work, internships, and student activities provide great experience, and show you can balance schoolwork with other priorities.

5. The well-known firm I want to work for just turned me down. Should I keep trying to get in there?

“Thank the hiring manager for considering you and ask if he or she will keep the door open in the future. But expand your horizons; don’t limit yourself to working for the biggest brands. Many organizations can offer a solid career path to you.”

6. The salary for my first job offer seems low. Do I have any leverage to negotiate?

Yes — but negotiate based on hard data and industry research. Research market rates for similar roles, and emphasize your ask based on these findings. Additionally, the hiring manager may not be able to budge on pay, so consider what else you might negotiate, like schedule flexibility, more vacation, or training. Forty percent of CFOs surveyed said they are willing to negotiate perks.

(Continued)

Millennial myths and makeovers

There are quite a few myths surrounding the latest generation of college grads about low work ethic, high expectations, poor in-person communication, and exorbitant entitlement, says Jeffers. However, the reality of what millennials bring to the table in the workplace is vastly different than their reputation suggests.

According to a survey conducted by Robert Half, 21% of millennials surveyed expressed a desire for strong leadership, noting “mentoring ability” is the single characteristic they value most in a leader/boss, ranking second only to honesty/integrity.

Additionally, they value in-person collaboration highly — nearly two-thirds (64%) of those polled said they prefer to collaborate with a small group in an office.

“Generation Z is the first truly digital and truly global generation,” explains Jeffers. “They embrace technology wholeheartedly and tend to be highly creative. They are entering the workforce intent on making significant contributions from day one.”

One of the most significant influences millennials have had on the modern workplace is a level of heightened transparency, preferring things spelled out realistically and in clear detail rather than having things sugarcoated, Jeffers points out.

“This group has been called the ‘reality-check’ generation, in that they crave both financial and workplace security after seeing their parents and grandparents weather the Great Recession. Another way millennials are helping to shape the workplace is their desire to work for organizations whose values are aligned with their own.

“Forty percent of millennials surveyed said they want to make a difference and have a positive impact on society, and 30% are willing to take a 10–20% pay cut if it meant working for a cause they cared deeply about. New graduates are highly enthusiastic, while more experienced employees temper their enthusiasm with pragmatism. The challenge for managers is, as it has always been, to harness that positivity and direct it toward measurable outcomes.”

Stay flexible

New grads looking to succeed after landing their first job are advised to be flexible and eager to learn as much as possible, notes Jeffers. “Their first job may not be exactly what they wanted or expected, but it would benefit them to focus instead on getting solid work experience working for a boss they respect and colleagues they can learn from.

Jeffers suggests newly hired recent grads consider internships, volunteer assignments, or temporary work as a way to gain experience and build their skill set. Their degree, work experience, and GPA are good indicators of technical abilities; however, hiring managers are more focused on soft skills than ever before.

“Highlighting strong communication and collaboration skills can show they are a good fit for an organization,” explains Jeffers. “For new grads to stand out when applying for open roles, we suggest including accomplishments such as those from major school projects, internships or summer jobs, or volunteer opportunities on their resumes.”

Click here to sign up for the free IB ezine — your twice-weekly resource for local business news, analysis, voices, and the names you need to know. If you are not already a subscriber to In Business magazine, be sure to sign up for our monthly print edition here.