Survey: foreign-funded enterprises prefer fresh graduates

13:34, March 30, 2010      

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Survey of enterprises

Nearly 85 percent of foreign-funded enterprises are willing to recruit fresh graduates, up 35 percent from the previous year. At the same time, nearly 60 percent of foreign enterprises plan to recruit more fresh graduates than they did last year, according to a survey on the fresh graduate supply and foreign-funded enterprises' demand for fresh graduates in Shanghai in 2010. However, in the eyes of fresh graduates, state-owned enterprises (SOEs) have replaced foreign-funded enterprises to become the best employers.

60 percent of foreign enterprises will offer more jobs to fresh graduates

The survey shows that nearly 85 percent of surveyed foreign-funded enterprises expressed their willingness to hire fresh graduates, compared with only 50 percent during the same period last year. Meanwhile, Over 60 percent of surveyed foreign-funded enterprises intend to offer more jobs to fresh graduates and fresh graduates will account for more than 10 percent of the total newcomers in nearly 38 percent of surveyed foreign enterprises. The above-mentioned figures suggest that foreign enterprises have been putting fresh graduates into their talent pool. It also shows that they have not stopped seeking talented people and improving their strength due to financial reasons.

However, fresh graduates have different viewpoints about the ownership of enterprises and which industries they are in due to the financial crisis that broke out in 2008. More graduates now turn their eyes to SOEs because of job stability and the satisfying performance of such enterprises against the backdrop of the international financial crisis. This shows that job stability has become the primary consideration of many graduates.

Fewer graduates choose foreign-funded enterprises

The survey shows that central SOEs and large and medium-sized SOEs were most popular with the current year's graduates, followed by foreign wholly or jointly-owned enterprises, while private enterprises were least popular. The large change in the selected favorite employers is noteworthy – SOEs, favored by nearly 40 percent of respondents, replaced foreign-funded enterprises to be the most popular employer. Around 36 percent favored foreign-funded enterprises, down over 10 percent from the previous year. The percentage of graduates favoring private enterprises rose to nearly 8 percent, and the percentage of the graduates favoring governmental departments and public institutions fell considerably.

Although private enterprises were still least popular, the percentage of graduates who are most willing to work in private enterprises rocketed to nearly 8 percent from 2 percent in the previous year.

The survey also shows that the current year's graduates largely have a proper and positive job-seeking attitude. If they cannot land a job for a long period, only around 4 percent of the respondents will choose to stay at home and the rest will find a job through various means and channels. More than 62 percent of respondents are willing to lower expectations to first land a job. This means that employment expectations of this year's graduates often alter according to the changes in situation.

Survey data indicates once again that recruitment executives of foreign-funded enterprises do not pay attention to only high education degrees. On the contrary, the demand for graduates with master's and doctoral degrees is far lower than demand for graduates with a bachelor's degree. Foreign-funded enterprises seem to value skills more than education. For job-seekers with similar qualifications, those who have social service practice and experience are more likely to be employed.

The statistics on employment vary from industry to industry. While demand for graduates with a bachelor's degree is the highest overall, the demand for graduates with master's degrees is relatively higher in financial, consulting, accounting, IT, pharmaceutical and other industries that have higher professional requirements for job seekers.

By People's Daily Online
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