Looking for an edge in today’s competitive job market? CEOs recommend two key strategies. Learn more.
Looking for an edge in today’s competitive job market? According to the nation’s senior corporate executives, you’ll have the most success by following two key employment strategies. What are CEO’s top recommendations?
Recent college graduates struggling to find a permanent job should work as an intern – paid or unpaid – to gain experience, according to senior corporate executives surveyed by Millionaire Corner in May. The execs ranked participating in an internship as one of the two most effective employment strategies
An internship not only helps college grads build their resumes, but accomplishes other employment strategies, as well, according to WetFeet, a website founded by Standford MBA grads researching their next career moves. “By interning, you not only gain professional skills, but also gather insight into a particular industry or organizational culture, and establish connections that might lead to a job,” according to WetFeet.
Internships allow college grads to gain valuable experience and establish a professional network, but they also enable companies to test, train and recruit new employees. A survey conducted last fall by the National Association of Colleges and Employers suggest a paid internship is the best of all employment strategies. According to NACE, college grads who had participated in paid internships were more likely to get a job offer, have lined up a job by graduation and receive a higher starting salary than grads who took part in an unpaid internship or had no internship experience.
“Paid interns reported spending more time on ‘professional’ duties and therefore appeared to gain more of the ‘real’ experience that appeals to employers than unpaid interns, who spent more time on clerical activities,” according to Marilyn Mackes, NACE executive director.
Landing an internship – particularly a paid one – can be difficult in today’s competitive job market. Experts advise grads to begin their internship search at their college placement office, a valuable resource, then expand the search through social networks and by contacting companies and non-profits directly.
Senior corporate executives also recommend that recent college grads hold down a part-time job while continuing to search for full-time, career-track employment. The execs rank working part-time during a job search as one of the top two most effective employment strategies. A January report by the Brooking’s Institute finds unemployed workers have a more difficult time finding a job than employed workers, and their chances decline with every month of joblessness. No wonder few corporate executives recommend searching for a job on a full-time basis as one of their top employment strategies. (Millionaire Corner resesarch shows that many young Americans are burdened by student loans and unexpected medical expenses.)
Few senior corporate executives advocate volunteering until the job market improves or going back to school as effective employment strategies. Also low on their list of employment strategies are “start your own business,” “work abroad,” or “seek financial help from the government.”