Picking the right job candidate is not easy. I was given the task of recommending college students for summer employment for my organization. I promptly pulled together a team of both seasoned professionals and recent college grads to make the job selection. We reviewed more than 100 resumes and interviewed several candidates. We had to make these selections quickly.
To my surprise, I was flabbergasted at the lack of employment preparation for by some people. For example, some students did not have the correct phone number listed on their resumes. We did not have time to waste tracking down candidates.
In one situation, we had called a prospect to interview him but missed him on our call to set up an interview. He called us back with a list of times he was available to be interviewed. In other words, he expected us to work our interview schedule around his. Needless to say, we did not call him back.
In other cases, we contacted prospects and asked them two basic questions: (a) why did they want the job and (b) what separated them in terms of skills and abilities for the job. In some cases, the students could not answer those questions. I am sure in hind sight; they would have understood that those types of questions would be asked.
We were fortunate to land two quality candidates. The team continued to be concerned about the lack of understanding by these college students about the job interview process. Because of this, we developed a job strategies checklist to provide universities and college students for our campus visits or university interactions.
Sadly, these miscues in understanding the financial climate and the hiring process of employers could jeopardize their future. In this blog, we will examine the current economic crisis and how students and parents can better position themselves for more employment opportunities.
The current economic forecast looks bleak in the near term for college grads and those preparing to graduate in 2013. The U.S. Labor Department estimates that the unemployment rate for recent college grads between ages 21 to 24 has averaged over 8%.
According to the Economic Policy Institute, recent grads will probably need to settle for low-level positions. In fact, about 52% of employed college grads under age 25 were not working jobs that require a college degree according to a Northeastern University economist.
College grads and current students must find alternative strategies to overcome employment obstacles. Rising tuition costs, a stagnate economy, and lack of career advancement continue to haunt ambitious young professionals.
Seasoned professionals are too cautious to retire early due to the uncertainty in their own future with the rising health care costs as they age. In fact, getting a college education appears to be a big liability and financial load for students.
As the clock struck midnight several days ago, interest rates on federally subsidized Stafford student loans jumped from 3.4% to 6.8% until Congress can change it. Some estimates conclude that the average college student will see an additional $2,600 cost for his or her loan.
According to the Project on Student Debt, two-thirds of 2011 college graduates had an average debt of more than $26,000. Consequently, millions of college grads will see themselves carrying massive college debt loads with dim hopes of finding jobs in their majors.
Columnist Hadley Malcolm summed up this situation best, “Like countless Millennials across the country, they find themselves tethered to that debt load, stuck between the desire to become fully independent adults and not being able to afford the financial and cultural milestones traditionally associated with young adults.”
Employment opportunities have changed because the hiring processes have changed, yet most individuals do not realize this fact. A process is defined as any part of an organization that inputs and transforms them into outputs in hopes of greater value to the organization than the original inputs.
Robert Jacobs, Richard Chase, and Nicholas Aquilano, authors of Operations & Supply Management, note, “Understanding how processes work is essential to ensuring the competitiveness of a company.”
Yet, understanding the hiring process would be an asset to college grads who are competing with their college peers and seasoned professionals. For most college grads, this reality makes it vital to find a good, well-paying job. Yet, most people are in the dark about the job strategies necessary.
Peter Cappelli, author of Why Good People Can’t Get Jobs, explains that employers have shifted their expectations on prospective employees: “With an abundance of workers to choose from, employers are demanding more of job candidates than ever before…To get a job, you have to have that job already. It’s a catch-22 situation for workers – and it’s hurting companies and the economy.” Regardless of where you stand on today’s college students, it is clear that some intervention is necessary if they are to be successful in this troubled market.
With the increases in college debt and decreases in significant job opportunities, both college grads and college students must understand today’s hiring process. Additionally, with the rising cost of a college education, parents cannot afford to idly sit by and watch their child wander aimlessly through college. Individuals can help themselves by becoming knowledgeable in all aspects of the employment process. The road will not be easy, but planning will create the right environment for success in the future.
Please discuss employment processes that have changed since you graduated. Provide valuable employment strategies to recent college grads and current college students.
© 2013 by Daryl D. Green
 “Class of 2013 faces grim job prospects” by Annalyn Kurtz
 “Class of 2013 faces grim job prospects” by Annalyn Kurtz
 “The cost of student debt loan” by Hadley Malcolm
 Operations & Supply Management by Robert Jacobs, Richard Chase, and Nicholas Aquilano.