What the Class of 2023 Wants From Future Employers
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Here's your money briefing for Friday, May 5th. I'm J.R. Whelan for The Wall Street Journal. Every year around this time, millions of college graduates set out to enter the workforce.
What does the Class of 2023 study reveal about how many grads accept offers before graduation?
But there's more to it than just sending out resumes and scheduling interviews. A key to success in grads landing the right job is companies knowing what they're looking for in an employer. And that's where some fall short.
They don't say, In two years, you can be here. In five years, you can be here. Here's the lateral movement. Here's the traditional upward mobility. Here's an example of two or three people who started in your role and where they're at today.
We'll talk to Tom Gimbel, CEO of the LaSalle Staffing Network, which surveyed thousands of students after the break.
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The next generation of workers will soon be entering the workforce hoping to land their first job. According to a new poll, the class of 2023 has very clear expectations of what they're looking for in an employer. WSJ contributor and founder of LaSalle Network, Tom Gimbel, joins us to discuss the results of the survey. So, Tom, college seniors often line up jobs before graduating, but LaSalle's most recent survey showed that 62 percent of recent grads had accepted a job offer by the time they finished college. What does that tell us about the job market for the class of 2023?
We surveyed about 2,500 soon-to-be college graduates. And what it said to us when the number was so high, that there is some pending fear over the economy. They don't want to wait and see what's out there. They interviewed aggressively. And when an offer came, they took it. Now, simultaneously, I think it's a much more educated group of people due to social media and transparency. So I think they also know what's available more than any other graduating class as well. So the combination of the two.
What does it tell us about the demand for college graduates?
Well, what it says is about six months ago, it was almost a two to one ratio, one and a half to one ratio of the number of jobs available versus workers. And now we're about a one to one. But what it says is that from an experienced staff, companies can't find the people. And so when that happens, they're going to revert to recent college graduates. They're going to sign them up early. They want to get the best of the best.
You know, Tom, as much as nearly any 2023 grad wants to land a job, the employers really need to attract the right candidates to fill the spots. What did students say they're looking for in an employer?
They want to know that there is career development, there's career progression, there's some sort of mentorship. that people actually, at the end of the day, people care about me and I can hear it. I don't mind working 60 or 70 hours a week, if that's what the case may be, and there's a light at the end of the tunnel. And when companies learn how to map that out and to sell the career path the right way, that's where people are saying, I want to work there.
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