One quarter of graduates in Northern Ireland and England are in employment for which they are overqualified and in which a degree is not required, according to an international study. The report found that although unemployment rates for graduates in the UK are extremely low compared to worldwide figures, they are more likely to find themselves in jobs with lower wages.
Another report from the Office of National Statistics states that 6 months after leaving university, many graduates are working as office juniors, road sweepers and cleaners. The number of students in non-professional roles such as sales/customer services, secretarial/administration, skilled trades, caring and service industries was over 60,000.
Recruitment company, Adecco, carried out a survey of 1000 companies who claimed that more than half of university graduates had expectations of working life which were unrealistic and one third of all firms believed that the education system was not equipping youngsters with skills which are required by British businesses.
Workers were found to have inadequate communication and information technology skills. One quarter of employers stated graduates had a lack of basic reading, writing and mathematical skills.
A spokesperson from Adecco identified that although Britain has one of the highest quality education systems in the world, a degree is no longer enough to get into the world of work. Employers are now impressed more by personality and attitude than they are by academic or vocational qualifications.
Almost half of graduates thought that their degree did not give them the correct skills to enter the world of work.
In the UK more than 50% of young adults now go on to university. UCAS submissions by those aged 18 are currently at higher levels than ever before. In England, tuition fees are now £9250, higher than any other country in the study with the exception of the USA. As more university graduates enter the job market, all competing for the same jobs, graduates cannot get jobs with salaries high enough to make the student loan repayments. 40-45% will never be paid back.
So what is the way forward? Adecco believes that the government, businesses and universities need to work together in order to develop the skills businesses need, with the curriculum including soft skills such as financial knowledge, communication skills and a good attitude.
It could also be argued that vocational training offers young people a better chance of securing employment than the traditional academic route. This takes place in a work setting, giving students the opportunity to gain experience and study at the same time, learn how teams work and develop better communication skills.
It is designed to match the individual needs of businesses, therefore ensuring young people acquire the knowledge and skills that companies want. This route gives them a better chance of achieving suitable employment after their course is complete. It is now possible to undertake structured vocational training concurrently with an academic degree, with Degree Apprenticeships.
Despite the fact that 25% of all graduates are taking on school leavers’ jobs, increasing the number of graduates and skilled workers will help economic growth in the UK.