This fall intake, the class of 2023 will enter a new phase of being employed and going to work after having experienced a global pandemic for the last three years. So how are the newest cohort of college freshers responding to jobs? What are their preferences on skills and location? We have seen a paradigm shift toward students getting enrolled in business and tech majors. The most popular majors for the class of 2023 have been business administration, psychology, computer science, biology, and computer networking. There is a change in strategy to battle through the tough job market in the class of 2023 as the students are open to new industries and are starting the job search sooner by going for internships during their final semester.
There’s no question asked that we are in a competitive job market. As the candidates earn more experience, the competition narrows down and of course the salary range increases. That being said, currently, we are looking at 42.2 M full-time jobs and 307 K internship programs for freshers in 2022. New hires take this opportunity to get real-time experience and settle into an office environment. As entry-level jobs do not require experience or a higher level of education.
In this blog, we will look into details like what students can do in a highly competitive job market. What type of courses and certifications to go with, while the candidate is on the lookout for a job opportunity? But first, we will take a look at upcoming trends in comparison to previous years.
The Job Market Looks Promising for the Class of 2023
Soon-to-be graduates will get into a different kind of labor market, as employers are ready to hire 14% more 2023 graduates than the preceding year, as suggested in the article by Business Insider.
Companies are looking at ramping up hiring for new college pass-outs. It simply means that the ongoing labor shortage is proving to be an added advantage for the class of 2023 with over 42 million active job listings across locations. Getting a job in the great resignation period is certainly difficult for the experienced workforce when compared to a fresher landing a job. Although, this is bad news for the millennials, especially those in the 30 to 35-year range. Most of these positions might get filled out by a fresh graduate as a solution to heal the scars of the Great recession.
Employers Hire Multi-Skilled Candidates
Generally, employers tend to hire candidates who have proven they can handle the job due to the risk of a higher churn rate. However, college seniors can expect a lot of job opportunities next year as the focus is slowly moving towards looking at skill sets rather than experience alone. Employers are expecting to recruit heavily for both full-time hires and interns.
Employers are looking for top skills like management, customer service, sales, operations, leadership, research, innovation, and teamwork as basic skill sets to acquire to get a competitive edge in the marketplace. There are many courses and certifications for freshers to look into to get ahead of the curve. What do these skills represent on a broader level? Let’s take a look.
Problem-solving is an important skill to adopt as employers want their workforce to identify issues and come up with solutions.
Analytical and research skills help to find and evaluate information to make decisions. In this space, management, and innovation come into existence as well. Having an internship to learn these skills can be a top deciding factor to choose the right candidate.
Almost all jobs require good communication as it encapsulates how you want to share and receive information from your colleagues. Having technical skills improves the ability to use the internet, tools, and software without having to rely on others for basic work roundabouts. This shows professional acumen which is necessary to grow in a full-time job.
Class 2022: Get a competitive edge
Check out these top certifications that are good to have to apply for entry-level jobs. We have many tools available to access workforce trends of the current marketplace across geographies and industries. Using the JobsPikr tool, we can see that the certifications like project management, business analysis, healthcare, supply chain management, marketing, sales, and accounting certifications can come in handy to apply for jobs across most industries. The below insights are drawn from Joinhandshake and Jobspikr talent intelligence tool, here’s our take on this information.
Supply Chain Certification
The world is moving through e-commerce platforms at warp speed. Having globally recognized certification can improve your credibility to move up the ladder quickly. There’s a high need in the market for supply chain certification, there are more than 3220 jobs available across industries. Having a bachelor’s degree is a must to have your employees registered for this.
Marketing Certifications
Digital Marketing is a very competitive industry and getting your employees certified in this area can definitely demonstrate expertise. However, candidates need not have any prior degree to get enrolled for this certification. Marketing as an activity is required by most companies and that shows up in the data. There are more than 2600 jobs available in the market.
Project Management Certification
Careers in this area continue to be in high demand. The associate-level candidates with less experience can begin to understand how company projects can be handled. Anyone with a high school diploma can take up this certification by completing 35 hours of training in project management. This certification as a skill is required by most companies, we can see about 2370 jobs listed in this category.
Business Analyst Certification
Business analysis is important to analyze how a company process is created and improve production efficiency. This certification can be useful for those who want to move toward decision-making. Although this type of certification needs candidates to put in a lot of hours into training, we see about 1300 jobs listed in this category.
What does it mean for workforce analysts?
Going forward, talent analysts will need to be more thoughtful in their workforce demand and supply strategy by collaborating with business leaders across multiple functions. The use of predictive analytics will help to identify the right roles and skills. Staying focused on the changing business dynamics and economic conditions across geographies can help to drive strategic decisions. Predictive analytics can identify future outcomes based on historical data, which has the ability to forecast future patterns.
Based on the volume and competitive talent landscape, the process of attracting a workforce by offering clear career paths, mentorship programs, courses, and certifications based on locations and industry must be automated. Learning and transparent processes help entry-level candidates to grow and become an asset to the company. Talent Intelligence tools like JobsPikr adds value to your talent acquisition pipeline. Contact sales@jobspikr.com to schedule a demo and get the latest talent insights based on location, skills, certifications, and more. Talent Automation helps to streamline processes and attract the right talent while recruiting teams can focus on high-value actions to succeed.
Conclusion
Workforce analysis can support students in stressful times to help them navigate their job search. Introduce students to more opportunities, and more jobs in a wider range of industries. Despite the recent job layoffs from major companies like Twitter and Facebook, employers are still hiring and job openings remain high for the class of 2023.
