Honestly, this survey is a must-read. This study suggests AI can be a win-win for employers seeking better prepared hires and employees obtaining ‘higher job stability, faster promotions, and a better salaries’. The study is by Hult International Business School.
The survey included HR leaders and others and found…
– 94% of graduates with AI training say it boosted their careers
– 47% gained more job stability
– 42% earned more respect at work
– 34% got promoted faster
– 34% landed higher starting salaries
I thought it interesting that they found AI and data analytics maybe more important than interpersonal skills. 😃 Did I read that right? :-) HR leaders said 97% of new hires need strong AI, data analytics, and IT knowledge — while 90% still emphasized human skills.
Here is a quick recap of the findings:
- Graduates Feel Underprepared: 77% of recent graduates reported learning more in six months on the job than during their entire undergraduate studies. Additionally, 85% wished their college had better prepared them for the workplace, and only 24% felt they possessed all the necessary skills for their current roles.
- Employer Concerns: A staggering 96% of HR leaders believe colleges should take more responsibility for workforce training. Furthermore, 75% stated that most college educations aren’t adequately preparing individuals for their jobs, leading to increased onboarding and training costs.
- Hiring Challenges: Despite 98% of organizations struggling to find talent, 89% of HR leaders admit to avoiding hiring recent graduates. The primary reasons include a lack of real-world experience (60%), absence of a global mindset (57%), and inadequate teamwork skills (55%).
- Regrets and Guidance: A significant 94% of recent graduates expressed regrets about their degree choices, with 43% feeling doomed to fail due to their selected major. About half felt they didn’t receive sufficient guidance when choosing their degree, attributing some blame to college (79%) and high school (72%) counseling services.
- Value of Business Degrees: Employers show a preference for candidates with undergraduate business degrees, with 95% more likely to hire such graduates and 82% offering them higher starting salaries. Additionally, 97% of HR leaders emphasized the importance of new hires having a foundational understanding of business and technology topics, including AI, data analytics, and IT.
The survey underscores the urgent need to realign knowledge of the employee and employer as well as how educational institutions may need to update what they teach to make their graduates more prepared for global workplace.
