Latest news with #employability
Forbes
28-05-2025
- Business
- Forbes
4 Trade-Offs Talent Is Willing To Make In An Uncertain Job Market
THE JOB INTERVIEW — Pictured: CNBC''s "The Job Interview" activation — (Photo by: Heidi Gutman) When asked to describe their dream job, employees frequently mention having an inspiring job, a supportive boss, high pay, and flexible hours. When talent is scarce and jobs are widely available, employees can make a wish list while organizations compete for the best candidate with the most appealing perks. However, those wish lists are quickly forgotten when hiring is slow, or when it is unclear what direction the job market will take. That is precisely the job market uncertainty we currently face. What trade-offs is talent willing to make when jobs aren't readily available? Randstad, a global talent leader operating in 39 countries worldwide with its headquarters in the Netherlands, explored the views of over 5,000 working individuals in North America, Europe, and the Asia-Pacific region between March 28 and April 9 this year. The report, released last week, reveals the compromises employees make in light of global and economic uncertainty. Employees worry most about keeping or getting a job when jobs are scarce. When asked what they find most important in an uncertain job market, employability is the number one priority. Not surprisingly, in the Randstad survey, 64% of the American respondents answered that they would choose long-term employability over an inspiring job, and 70% would trade remote work for staying relevant. From earlier recessions, we know that job stability becomes paramount in an uncertain job market. Professor Johnson from Washington State University examined what employees valued during the Great Recession, from 2007 to 2009. Using data points between 1991 and 2009, a clear upward trend in employees' value of job security is evident during the Great Recession. Choosing between a job and no job is not a real choice without alternatives. Instead of their dream job, employees opt for roles that offer professional development and opportunities to acquire future-relevant skills in areas such as AI, ensuring they add value to the company and increasing the chances of retaining their jobs. Does this mean that all wish lists go out the window the moment employees cannot take their job for granted? Not entirely. While once being taboo, mental health has transformed into an important topic that should be on the agenda of any organization. For many employees, support for mental health is a key criterion in their job search. In line with that credo, the Randstad survey reveals that stressful jobs can be a deal-breaker. Globally, 60 percent of participants said they would rather have a less stressful job than a higher salary. Many had already traded off pay or career advancement for work-life balance: 40 percent of respondents had accepted lower pay for a less stressful job, and 43 percent had chosen a job with flexibility over one with more opportunities for career progression. These numbers are in sync with the quest for work-life balance among younger generations. Especially Gen Z and Millennials are looking for jobs that don't consume their lives, and they are not willing to give up this goal for more pay. Job security is undoubtedly the most important, but this value is quickly followed by manageable jobs that allow for a work-life balance and good mental health. In 2024, the conversation was dominated by control over where employees work, as a whopping 90% of employers had a return-to-office mandate. It seems that some employees are starting to give up on that fight and have moved on to another. According to the survey by Randstad, 56 percent of respondents stated that they find control over their hours more important than control over their location, and 59 percent would trade a higher salary for control over their hours. These findings point out that organizations can't underestimate the importance of giving employees some level of control. Feeling in control of your life is a critical human need. If they must work in the office, giving employees decision latitude on their schedule is wise if organizations want motivated and happy employees. Now that so many organizations expect employees to work onsite, what does it take to get remote workers to return to the office, aside from schedule control? The Randstad survey shows that three-quarters of fully remote workers expect higher pay in return, or more annual leave days (67 percent). For this group, staying remote is so important that 58 percent said they would forgo a pay raise or a promotion to work from home, or they would simply quit their jobs. The latter is a risky position to take, especially in a market where organizations may be looking to streamline. Still, the numbers illustrate how challenging it is to retract a perk once it has been given. Employees have grown accustomed to the comfort of working from home and have adjusted their lives accordingly. If organizations want to retain remote working talent, they should give those remote workers a reason to come in. The most obvious way is by creating a supportive organizational culture that aligns with employees' values. Team leads can create moments for informal check-ins or organize team brainstorming sessions. Those in-person interactions are missing in remote work, and experiencing this human connection might convince remote workers that it is worthwhile to come into the office. Supervisors can also anticipate that employees may need some time to adjust to an office environment, which can be noisier and has a lower threshold for interruptions. It can be helpful to assign no-disturbance work blocks so that team members can know they will be able to complete key tasks without interruptions. When taking a helicopter view over what employees expect from a job when the economy is shaky, a clear pattern emerges. In times of uncertainty, job security comes first. Those who have a stable job focus on work-life balance, valuing mental health and job flexibility, whereas high pay and career advancement are temporarily put on the back burner. And while many employees would prefer to work remotely, organizations can lure them back to the office with the proper support.
The Independent
21-05-2025
- Business
- The Independent
Why it's so hard for young people to get a job right now – and what needs to change
For generations, young people have been told the path to opportunity is clear. Study hard, get a degree, and success will follow. This promise – central to the idea of 'meritocracy' – has shaped the aspirations and investments of millions (though in reality, access to university and employment is also shaped by factors like family income, schooling and geography). Today, however, many graduates in the UK and elsewhere are struggling to land a job – and it's a problem which extends far beyond finding roles that match their qualifications. In some cases, graduates are being turned down for roles in supermarkets or warehouses – not because they're unqualified, but because they're seen as overqualified, too risky or surplus to requirements. In terms of the UK economy, this isn't just a problem of job shortages. It signals a deeper breakdown in the social contract – the long-held promise that education leads to opportunity. And it exposes how the connection between learning and labour is coming undone. As the focus of employers, higher education providers and the state has shifted towards the notion of 'employability' – the skills and attitudes that help people get and keep jobs – labour markets have become highly competitive and spoilt for choice. At the same time, it's worth remembering that while employment remains a key concern, the value of education extends far further – shaping personal growth and civic engagement, for example. Employability places the burden squarely on young people to become work-ready while ignoring the wider barriers they face. These include hiring algorithms, labour market saturation as graduate numbers remain high while vacancies dry up, and uneven access to opportunity. Even with degrees and internships, many young people are finding themselves locked out of meaningful work. Research I undertook with colleagues on education-to-work transitions shows how graduates often invest heavily in becoming employable through a mix of soft skills, adaptability and professionalism. But these efforts now rarely guarantee a job. Instead, graduates frequently enter a labour market that is both oversaturated and under-responsive. Over the past two decades, the number of graduates in the UK has grown sharply. This surge has intensified competition, pushing many into roles below their qualification level. The UK government's Get Britain Working white paper recognises this disconnect. It also highlights the legacy effects of the COVID pandemic, especially among young people aged 16–24 who are not in education, employment or training (Neets) – of which there are now estimated to be 987,000, and rising. But while the government's proposed youth guarantee scheme offers basic training and apprenticeships, it does little for those already in the labour market. What's blocking the way? Despite the emphasis on developing skills, many young people – both graduates and non-graduates – struggle to progress in the labour market. For example, the number of entry-level roles in retail, hospitality and logistics is shrinking due to rising costs, automation and algorithmic hiring systems that privilege some over others. Recent increases to employer national insurance contributions and the national minimum wage are putting pressure on payrolls, reducing already limited opportunities for young people. This highlights the limits of the popular narrative that effort always leads to reward. The idea that young people just need to try harder collapses under the weight of such constraints. Businesses are also facing tight margins, as well as the problems that come with high staff turnover due to a lack of career development opportunities, as rising costs make it harder to invest in staff. But our research shows that even highly motivated graduates – those who network, gain skills, take internships and are adaptable – can struggle to get a foot in the door. The UK employment rights bill, which is making its way through parliament, is designed to curb exploitative labour market practices. But professional bodies and trade associations warn that some employers may respond by cutting staff and reducing flexible work. While reforms such as reframing the purpose of Jobcentres are critical in making unemployment seem unattractive, they are likely to fall short of creating sustained opportunities. Policy paradox All of this reveals a paradox. In trying to clamp down on job precarity, the UK government may be shutting young people out of the entry points they need, skilled or otherwise. Well-intentioned policies such as the youth guarantee and employment rights bill risk failure when the labour market often rewards privilege over merit. Today's labour market can penalise young people twice over. First, they're expected to be employable with the right skillset. Yet even when they are, many find the door shut. In my view, the way forward is to create new, accessible roles that reflect a broader duty of care on the part of employers, universities and policymakers. This includes building skills pathways along the lines of the Youth Futures Foundation programme, which works in deprived areas to create pathways that connect young people with support and jobs. It also means embedding hiring practices that ensure a closer focus on someone's potential, such as blind recruitment or diverse hiring panels. Incentivising employers to hire and value young talent could be transformative, as could forging partnerships between universities and industry which focus on building the skills needed for employment. Government initiatives such as the Trailblazers scheme, which identifies young people at risk of falling out of education or employment, are a good start. But they could be more effective alongside a combination of digital tools that bring together mobile apps for tracking career progress, a skills dashboard, and AI career advice. Restoring the social contract means sharing responsibility. Our research finds that employers should regularly review how they assess talent and design career pathways. Universities should collaborate with industry to ensure graduate skills align with employer expectations. And the government must address deep-seated inequalities shaped by region, class, race and institutional prestige. Ignoring these issues mean they will continue to largely dictate who gets in, who gets ahead, and who gets left out. A collective responsibility ensures that education is recognised not just as a route to employment, but as a cornerstone of a fair, thoughtful and inclusive society.
Arabian Business
09-05-2025
- Business
- Arabian Business
QS Quacquarelli Symonds
Brand View: The University of Manchester ranked 27th best university in the world, driven by a focus on employability and employer reputation
