Background
The skills of many talented graduates are being wasted. East London, for example, has some of the highest graduate unemployment rates in the country but has the shining towers of Canary Wharf on its doorstep - one of the richest square miles on the planet.
Recent figures show that certain groups of graduates, in particular Pakistani, Bangladeshi, Indian and Chinese women, Black African men and those from a working class background suffer from employment levels well below the average. This untapped pool of talent, usually concentrated in deprived areas, is a loss to both the local and national economy. It also contributes to low levels of social cohesion in such areas.
The Young Foundation conducted focus groups with graduates, employers and university careers service personnel to understand the issue in more depth. There was broad consensus that without access to networking opportunities, highly-developed communication skills and a good dose of confidence it could be extremely difficult for graduates to make a successful transition to employment.
Some graduates are able to benefit from their parents’ professional experience; drawing on their knowledge of CVs, interviews and self-presentation when meeting a possible future employer. Often, these graduates are able to profit from family financial support and well-developed personal networks, accessing interesting opportunities to enhance their CVs.
However, not everybody has access to these same advantages. There are many whose families do not have the skills, experience, networks or finance to support the kind of extra-curricular activity that lends credibility to a young person’s CV. For these graduates, finding and securing interesting, appropriate work can be much, much harder.
Even before the recession, this was an issue. Around 17% of graduates are currently unemployed (Institute for Public Policy Research, Jan 2010) – a figure that does not include graduates who may be “underemployed”, working in jobs that simply serve to pay the bills.
Research carried out by the Young Foundation suggests there is a significant gap in support for graduates as they make the transition from education to employment. Universities are frequently unable to offer employability skills programmes as part of a degree – and post-graduation support in developing ‘soft-skills’ is often extremely limited. In many cases, low levels of self confidence and misconceptions of the labour market also lead to ‘self exclusion’ from valid job opportunities.
The Fastlaners programme helps graduates overcome these issues and navigate the 21st century job market successfully.
