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Korn/Ferry Survey Indicates Labor Market for New Graduates Should Remain Strong

2008-07-10 03:05 1037

- Nearly Two out of Three Executives Say Their Company is Hiring

Recent Grads -

LOS ANGELES, July 10 /Xinhua-PRNewswire/ -- An uncertain global economy and labor market are not significantly affecting hiring plans for new graduates, according to survey results released today. The latest Executive Quiz from Korn/Ferry International (NYSE: KFY), a premier global provider of talent management solutions, was tabulated in June 2008 as the majority of new university graduates hit the job market.

Nearly two-thirds (65 percent) of executives surveyed say that their organization is planning to hire recent graduates with either a bachelor’s or master’s degree this year. In addition, 65 percent also say they are hiring either the same number (35 percent) or more (30 percent) new graduates this year than in recent years. The good news was tempered by 36 percent of executives who say they are hiring fewer new graduates than in past years.

"Hiring plans for new graduates seem to be holding strong despite a downward trend in the overall labor market," said Caroline Nahas, managing director of Southern California for Korn/Ferry. "Maintaining the pipeline of new talent is critical even during an economic downturn as it positions companies for a recovery. Further, as Baby Boomers continue to retire and deplete the workforce, companies need to continue to replenish their future talent pool."

The survey results also provided insight into how new graduates can increase their odds of getting hired. Respondents cite the interview process as the most critical element in the hiring decision, running away with 71 percent of the vote, as compared with past internship or work experience (21 percent), reputation of the school (five percent) and references (four percent).

During the interview phase, the most common mistake candidates make is not doing their homework on the position and the company (59 percent). Other noteworthy mistakes made by candidates include applying for a position beyond their ability (18 percent), lack of professionalism (12 percent) and overemphasizing salary and title (11 percent).

Methodology

The Korn/Ferry International Executive Quiz is based on a global survey of executives registered within the firm’s online Executive Center, ekornferry.com. Respondents from more than 90 countries, representing a wide spectrum of industries and functional areas, participated in the most recent Executive Quiz in June 2008.

About Korn/Ferry International

Korn/Ferry International, with more than 80 offices in 39 countries, is a premier global provider of talent management solutions. Based in Los Angeles, the firm delivers an array of solutions that help clients to identify, deploy, develop, retain and reward their talent. For more information on the Korn/Ferry International family of companies, visit http://www.kornferry.com .

Source: Korn|Ferry International
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