Research reveals what students want from future employers

Based on Universum's national student surveys of more than 200,000 business and engineering students in the world's twelve largest economies, the World's Most Attractive Employers reveal the top choices for today's young talent.

The research also highlights why these employers are attractive and how students around the globe differ in their thinking about their careers.

Focused on creative, friendly work environments

When asked about what attributes would make an employer attractive, students surveyed indicate that they want to work in creative and friendly work environments. In fact, "a creative and dynamic work environment" is the Nr. 1 most sought-after attribute for engineering students in the 12 largest economies surveyed, taking priority over other attributes like a high starting salary or leadership opportunities. For business students, this is also a high priority, coming in as their Nr. 4 top choice.

Following closely behind "a creative work environment" in popularity is "a friendly work environment," which places Nr. 6 for engineers and Nr 5. for business students. In several countries, students prioritize a friendly work environment over a creative work environment (France, Germany, and Russia for both business and engineering; Australia and Canada for just business).

"We see this as an indication that members of this generation, are really taking a different approach to work," comments Petter Nylander, CEO of Universum. "We have seen for several years now that work and life are merging - students today don't see as much of a separation between the two as we have in the past, and they know what a large role their work will play in their lives. For this reason, they want to work in an environment that resonates - and employers need to rise to the challenge and make investing in the work environment a priority."

South African students have different priorities

Students in South Africa, however, have very different priorities when surveyed in the annual Universum survey. As opposed to the trend in the most developed economies, South African students indicate that professional training and development is the number one attribute they are looking for in an employer.

There is also a far greater importance attributed to leadership in South Africa compared to the rest of the world, a trend also evident in other emerging markets. "In emerging markets, students still tend to prefer harder values, such as money and leadership, reflecting how South African society has not yet moved to a stage of post-materialism" says employer branding consultant at Unviersum South Africa, Jenali Skuse.

Students in Asia and SA focused on remuneration and advancement

When students were asked to rate the relative importance of four categories - the employer's reputation & image, the characteristics of the job they'll perform, remuneration & advancement, and the people & culture of an employer - students in Asia and Russia place a higher priority on remuneration & advancement than students elsewhere.

In general, the emphasis students place on remuneration is inversely proportional to the per-capita GDP of their country. Exceptions include Russia (which has a "mid-sized" per-capita GDP, but in which students place an extremely high value on remuneration), and Japan (which has a high per-capita GDP, but in which students place a high value on remuneration). In South Africa, with a relatively low per-capita GDP, rumeration and advancement is viewed as very important.

Business students gravitate towards traditional industries

For business students, employers in the professional services industry (i.e. management consultancies and auditors), as well as in banking, have seen steady improvements in the rankings over the last three years. When we look at the top ranked employers for business students this year, organisations like the Big Four accounting firms and large, global banks have performed extremely well.

"Many of these institutions offer some of the most desirable jobs in each of these markets," continues Nylander. "By offering the right combination of the strong company culture, career advancement prospects, training and development, and financial security that business students are looking for, they are increasingly seen as the best employers. Plus, as the global economy recovers and these firms hire more entry-level positions, it's natural that students would be attracted to these employers in larger numbers."

With uncertainty in the economy, slow growth and unrest in traditionally stable industries, there have been great shifts in which industries are attractive to South African students. Mining, traditionally very attractive to engineering students, has decreased in attractiveness. "With the labour unrest on the mines and the economy in flux, students are looking for careers that provide stability and job security in SA", comments Skuse.

For engineering and IT students, software employers take the top spots

As they continue to search for workplaces where they can exercise creativity, engineering students are drawn towards employers in the software industry. This industry is becoming more attractive whereas other industries, like pharmaceuticals, are losing in attractiveness.

In South Africa, the IT industry has seen a year on year increase in attractiveness. "This year we saw an even more significant shift in the attractiveness of the IT industry in SA, with the shift away from more traditionally attractive industries such as mining, engineering students are looking elsewhere, and IT is a key industry benefitting" observes Skuse.

"Software employers are, of course, strongly identified with the types of work environments and company cultures that these students prefer," concludes Nylander. "The startup culture often associated with these employers is highly attractive to many students - and for employers hoping to attract engineering students, a strong culture is something that employers should cultivate. On top of that, these organizations can also offer the development paths and high remuneration that students seek."