Student-Athlete Career Outlook Report. Who is Hiring and When. Macro Employment Trends FALL. Most Desired Candidate Qualities

Transcription

1 Student-Athlete Career Outlook Report Who is Hiring and When Macro Employment Trends FALL 2016 Most Desired Candidate Qualities

2 Employment Trends for Recent Graduates 29.6% had a job upon graduating 29.6% 29.6 percent of surveyed 2016 college graduates had a job in hand upon graduating percent of graduates who were offered a full-time position accepted the job offer. Most students who applied for jobs received one or two offers (one: 62.6 percent; two: 27 percent). Job in Hand Accepted Job Offer 46.2% Six months after graduation, 82 percent of the class of 2015 were doing something whether that means working full or part-time (64 percent) or going back to school (18 percent). More than 16 percent were still looking for work or had given up looking, while just over half of the graduating class were employed in standard, full-time positions. 17.7% Continuing Education 1.8% Service/ Military 10.3% Employed Other 16.1% Still Seeking/ Not Seeking 54.1% Employed Full Time Standard Job Page 2

3 Employment Trends for Recent Graduates - continued Currently, the average offer rate to interns is 72.7 percent, the highest it has been since the peak of the pre-recession market. The current average acceptance rate is 85.2 percent, which is above pre-recession levels. The overall conversion rate is 61.9 percent that is a 13-year high. Among responding employers, converting students who have taken part in an internship or co-op program into full-time employees is a primary goal for most programs. Nearly two-thirds of responding students (65.4 percent) said they participated in an internship, co-op, or both 60.8 percent of those interships were paid. 72.7% of interns were offered a full-time position Employers plan to hire 11% more graduates 65.4% completed an internship, apprenticeship or co-op Employers plan to hire 11 percent more college graduates in 2016 than last year. Employers in the Northeast, Southeast, and Midwest regions of the U.S. plan to increase hiring by 14.9 percent, 9.9 percent, and 8.9 percent, respectiveley, while employers in the Western region plan to decrease hiring by 3.9%. 15% 14.9% 11% % 8.4% increase hiring by NORTH EAST SOUTH EAST MID WEST WEST -3.9% Offer Rate: percentage of interns offered a full-time position upon completing an internship. Conversion Rate: percentage of interns who are offered and accept a full-time position upon completing an internship. Page 3

4 Employment Trends for Recent Graduates - continued The average salary increase amount is up 4.9 percent in 2016 compared to last year. 61 percent of employers plan to increase salaries. Overall, students who had accepted an offer had a median starting salary expectation of $49,759 and their actual median starting salary was 1 percent higher at $50, percent of employers plan to offer signing bonuses in Average signing bonus for accounting, business, and computer science are projected to be $2,929, $3,100, and $6,357, respectively. 61% to incr ease salaries 51.8% plan to offer signing bonuses 12.6% of recent grads are underemployed For recent graduates, the unemployment rate is currently 5.6 percent (compared with 5.5 percent in 2007), and the underemployment rate is 12.6 percent (compared with 9.6 percent in 2007). 12.6% Underemployed 5.6% Unemployed Unemployment Rate: jobless workers who report that they are actively seeking work (does not include those who have stopped looking for work alltogether). Underemployment-Rate: includes unemployed individuals in addition to those who work part time but want full-time work ( involuntary part-timers), and those who want a job and have looked for work in the last year but have given up actively seeking work in the last four weeks. Page 4

5 Hiring & Recruiting Trends This year s respondents plan to conduct an average of 71 percent of their college recruiting in the fall, with the remaining 29 percent in the spring. 71% of recruiting occurs in the fall Last year, employers attended an average of 31 career fairs during the recruiting season percent of employers plan to use more technology in general to recruit talent. Job postings on campus and company websites were the most widely used technical applications; they were also deemed most effective. FALL 71% 51.8% plan to use more technology SPRING 29% The top four Bachelor s degrees by demand (indicated by the percentage of employers who plan to hire graduates with a specific degree) are: Business, 75.6; Engineering, 68.8; Computer & Information Sciences, 58.9; Math & Sciences The top four Bachelor s Majors by demand (indicated by the percentage of employers who plan to hire graduates with a specific major) are: Accounting, 54.4; Computer Science, 53.9; Finance, 50.6; Business Administration/ Mgmt., ACCOUNTING COMPUTER SCIENCE FINANCE BUSINESS ADMINISTRATION/MGMT. BUSINESS ENGINEERING COMPUTER SCIENCE MATH & SCIENCES MECHANICAL ENGINEERING INFORMATION SCIENCES/SYSTEMS MANAGEMENT INFO SYSTEMS ELECTRICAL ENGINEERING LOGISTICS/SUPPLY CHAIN ECONOMICS MARKETING % % Page 5

6 Hiring & Recruiting Trends - continued The information, construction, and retail trade industries reported the largest increases in projected hiring (72 percent, 44 percent, and 35 percent, respectively). 74 percent of employers said online job boards represented the highest quantity hires. INFORMATION CONSTRUCTION RETAIL TRADE % 74% said online job boards represented the highest quantity of hires Enterprise Rent-A-Car, Ernst & Young, Progressive, and Hertz were among the top employers of recent graduates for full-time positions. Ernst & Young, PwC, KPMG, and General Electric were among those employers who offered the largest number of interships to college students. 74% of recruiters find most of their hires online ENTERPRISE RENT-A-CAR ERNST & YOUNG PROGRESSIVE HERTZ PwC KPMG DELOITTE FBI BANK OF AMERICA ERNST & YOUNG PwC KPMG GENERAL ELECTRIC DELOITTE ENTERPRISE RENT-A-CAR INTEL AMAZON.COM LOCKHEED MARTIN MICROSOFT Page 6

7 Hiring & Recruiting Trends - continued The average cost-per-hire has risen to $4,129 in 2016 nearly 20% higher than the cost-per-hire in 2013 ($3,479). 75 percent of global talent acquisition leaders say their employer brand has a significant impact on their ability to hire great talent. $ $3, COST-PER-HIRE 2016 $4,129 75% say their employer brand impacts their ability to attract and hire great talent The average costper-hire has risen almost 20% The average employee tenure is eight years, the annual turnover rate is 19 percent and the involuntary turnover rate is 8 percent. The average time-to-fill for positions in 2016 accross all industries (and all age groups) in the U.S. is 42 days. For recent graduates, the average time between when a job is posted and the first interview is conducted is 38.7 days. Cost-Per-Hire: a ratio of the total dollars expended (in both external and internal costs) to the total number of hires in a specified time period. DAYS 42 average time-to-fill for all U.S. jobs DAYS 38.7 from job posting to interview for recent graduates Employer Branding: the process of promoting a company, or an organization, as the employer of choice to a desired target group one which a company needs and wants to recruit and retain. Time-To-Fill: a measurement of how long it takes an organization to fill a position once the opening has been approved. Page 7

8 What Employers are Looking For Leadership is the #1 skill employers look for on a resume Employers cite ability to verbally communicate with persons inside and outside the organization and ability to work in a team structure as the most important candidate skills. Two skills employers look for most on resumes are Leadership (80.1 percent) and Ability to work in a team (78.9 percent). The number of employers who prefer to hire candidates with relevant work experience decreased from 72.5 percent (2015) to 64.2 percent (2016). LEADERSHIP ABILITY TO WORK IN TEAMS COMMUNICATION SKILLS (WRITTEN) PROBLEM-SOLVING SKILLS COMMUNICATION SKILLS (VERBAL) STRONG WORK ETHIC 80% % 64.2% % percent of employers screen GPAs of those employers, 70 percent plan to screen by GPA use a cutoff of 3.0. Plan to Screen GPAs GPA % 70% plan to cutoff at Page 8

9 Hiring & Recruiting Trends - continued Nearly all job-seeking students (98.2 percent) said they use employer websites in their job search, and employer websites were rated as the most effective resource, with 80.4 percent of students rating them as very or extremely effective. 82 percent of upcoming graduates expect to earn more than $25,000 a year. 98.2% said they use employer websites in their job search 82% expect to earn more than $25,000 a year Career fairs are also popular among job-seeking students; 88.4 percent said they attended career/job fairs, and 62.1 percent rated them as either very or extremely effective. Students have become increasingly disposed toward seeking help from alumni, with more than 69 percent identifying alumni as a resource, and more than 59 percent identifying alumni as a very or extremely effective resource. In terms of the types of information they seek through job-search sites, current job openings and salary/compensation information top their list. 98.2% of graduates look employers up online during their job search 88.4% Attended Career Fairs 62.1% Rated Them as Very Useful 69% Sought Help From Alumni 59% View Them as Useful Resources Page 9