FORTY-two percent of fresh graduates leave their first jobs after less than a year, a new study by Monster.com showed.
The study, which surveyed at least 1,115 graduates in the Philippines, noted that the lack of professional development is the main reason they don’t stay longer in their jobs (72 percent), followed by the desire to earn more money (48 percent) and the need for more challenging work (32 percent).
According to Monster.com, the research is meant to uncover insights, challenges and expectations around the recruitment process for young local talent.
The firm is a global online employment solutions provider registered under the New York Stock Exchange.
The survey uncovered numerous mismatches between talent and employer expectations when it comes to the graduate job seeker experience, as well as important insights into what local employers are looking for in curriculum vitae (CV), and the biggest mistakes young talent make during job interviews.
The research showed that 41 percent of fresh graduates in the Philippines said the biggest challenge in their first job was a lack of industry knowledge, which set them off on the back foot.
Although this might be expected due to having little experience, some 32 percent said the second biggest challenge involved issues with the boss, followed by 30 percent of them “not being prepared for work life.”
What about pay?
The research said that while this indicates an apparent lack of leadership support to help young talent transition into the working life, 80 percent of surveyed employers across the region believe they do provide sufficient support for fresh graduates to succeed.
However, employers were quick to note that young local talent may be expecting too much when it comes to compensation.
Fresh graduates focusing too much on money during initial interviews disappoint employers, followed by tardiness during the interview, and the lack of research on the company.
Fifty-three percent of employers said any discussion around salary in the initial interview is “unprofessional”, as the focus should be on fit and getting a better understanding of the job role and requirements.
“Money is obviously a key concern for fresh graduates, and this makes sense – they are finally embarking on their career journey and will be excited about earning their first full-time wage. But young talent would be smart to play down their salary hopes, and instead focus on what they can gain from experience in their first job. How can they contribute to the bigger picture, what skills can they learn, and what path might they have to grow?” said Sanjay Modi, managing director of Monster.com for Asia Pacific and Middle East.
Want more skills
“In the same breath, employers must be mindful of young talents’ keen desire for leadership support to upskill. Fresh graduates are aware that being given the opportunity to expand their responsibilities and competencies can lead to bigger and better-paying roles, which will help employers to retain and develop talent in the long term.”
The firm said one of the best ways young talent can get ahead is through internship programs.
Fifty-four percent of Filipino talents completed at least one internship before landing their first job.
Of the group, 70 percent said the internship helped them gain first-hand knowledge and experience in their chosen career path.
Employers give importance to internships, too. Majority of them said it is important for fresh graduates to have completed an internship in a relevant field.
Yet interestingly, only 42 percent of employers currently offer an internship program, although one quarter said they are planning to implement this in the next 12 months.
The survey also asked employers what they focus on when examining CVs.
The research said employers care most about any experience a seeker might have that is relevant to the role, followed by qualifications and education, and a well-written and easy to read resume.
Monster Philippines has launched the #MyFirstJob campaign to provide insights and awareness around graduate recruitment and bridge expectations between employers and jobseekers.
Monster.com surveyed a total of 2,368 job seekers and employers across Singapore (536 respondents), Malaysia (717 respondents), and the Philippines, spanning all industries.