A high grade point average, multiple majors, impressive summer internships, and extensive study and travel abroad no longer guarantee an entry-level job after college. A recent survey by Intelligent found that companies are hiring fewer new graduates, believing they are not ready for the workforce. Unfortunately, college grades that look impressive on a resume and make your parents proud don’t necessarily translate to employment these days. What happened?
Companies are struggling with how to manage a new generation of graduates who were isolated by the pandemic during their high school and early college years, robbed of traditional communication skills by technology and social media, overprotected by helicopter parents and even helicopter universities, and plagued by extreme anxiety and fear of failure. Today’s college grads don’t fit the traditional mold of corporate America. These new graduates seek independence from those trying to control their lives, and they’ve exercised survival instincts that have been sharpened during the pandemic. Their mindset is entrepreneurial, not team-focused.
Three students who took an advanced independent study course under my tutelage this spring semester helped me gain a deeper understanding of how to effectively manage this emerging cohort of graduates who don’t quite fit into the modern enterprise. Unconstrained by a traditional classroom structure, these three advanced students did an amazing job: They each chose a topic and, over the course of a 15-week semester, pursued their interests like dedicated small business owners.
One student designed a new line of pajamas, found a manufacturer to make prototypes, and created an investor pitch that incorporated a buy-one-give-one strategy, distributing one pair for free to patients at the cancer center receiving treatment. A second student from Ukraine developed a digital fundraising campaign to support children in her home country. An accomplished pianist, she created multiple social media posts featuring herself playing piano pieces by Ukrainian composers and encouraging donations to the children. A third student decided to develop a plan to increase awareness on campus for her university’s business school. She researched diligently with students on campus, where she maintained a tradition that spanned three generations. She found useful insights built into the plan reviewed by the dean.
These three students were highly motivated and enthusiastic throughout the semester. I met with them weekly to discuss their progress, but never told them what to do or how to proceed with the project or required them to meet as a team. They did show signs of anxiety at times, but because I deal with college students all day long, I was able to spot the signs right away. Providing positive guidance and upbeat comments got them back on track quickly.
My experience working on these student projects has given me a deeper understanding of why companies today struggle to manage new grads. Companies will not work well with mid-career, bright, team-oriented millennial managers. These managers will be disheartened by their independence and perplexed as to why 22-year-old employees with fewer responsibilities are so stressed and scared.
Unfortunately, recent college graduates are attracted to large companies because they see them as prestigious and successful. They believe that working for a large company will alleviate their intense anxiety and that landing an entry-level job will be a sign of success after graduation. Their anxiety is only intensified when their online applications are ignored or rejected after an interview.
In my experience teaching college grads, juniors, and seniors, I know that very few of them have the skills or temperament to succeed in a large corporation; instead, they have the life experience to be independent. Not surprisingly, many college graduates jump into entrepreneurship without any corporate experience. A recent American Express survey found that one in five Gen Z and millennials start a company right after college.
Even if big companies have given up on recruiting new graduates, we should not give up on them. They are not like graduates, even if they are a year or two older. Their motivations can be misconstrued due to underdeveloped communication skills and high levels of anxiety. However, my recent experience working with them shows that if we encourage their talent for independence and recognize and manage their stress, they can become great, talented people with an entrepreneurial spirit that will change the face of business.
Image by Flamingo Images — Adobe Stock — Asset ID#: 158448081
Bill Bergman is a marketing instructor at the Robbins School of Business at the University of Richmond, where he teaches courses on disruption, digital marketing, and professional sales.
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