A Labour Market Quiz

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Consider the following statements about the graduate labour market in the UK. Are they true (T) or false (F)… or somewhere in between(?)?

1) "Graduate jobs mean rapid promotion and job-for-life security"	T ? F
2) "Graduates only work for large, blue-chip organisations"	T ? F
3) "Employers are only interested in academic performance, so a degree is a guarantee of a 'good' job"	T ? F
4) "If you have a degree you won't need to do any more studying"	T ? F
5) "Employers always look for graduates from a specific degree discipline"	T ? F

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2) Surveys indicate that many graduates would like to work for large, multinational companies - perhaps because these are the companies they know about. Your own perceptions may be skewed by the fact that graduate vacancies in large firms (many of them household names) are the most vigorously advertised. However, Small and Medium Enterprises (SMEs) are playing a leading role in economic regeneration and job creation - even for graduates. The greatest potential for increased graduate recruitment and utilisation is therefore likely to be in SMEs, where a variety of new skills are required, and early responsibility is not uncommon.

The following comments made by graduates working in SMEs will give you some idea of the pros and cons of working in a small firm.

"The advantages of working in this small company are that you know everyone and managers are very approachable. There is no great hierarchy, and it's easy to discuss matters." (Ref.1)
"It is very friendly and communication is direct and personal. Due to the small number of people the hierarchy is extremely flat, everyone is more or less on the same level and this makes working a real team effort. There is much less red tape and you are not bogged down by rules and regulations. You often deal directly with your boss, which means you are not faced with different levels of managers with their own goals and agendas." (Ref.2)
"You are able to see the whole working of the company and your involvement within it. As your contribution directly affects the company's performance your responsibility is real…. The variety and number of different tasks means you are not as restricted in your role as you are in a large firm. Although you are responsible for certain tasks you have to venture outside this role, help others and sometimes work on an ad hoc basis." (Ref.3) -
"I have had to learn this job mostly by getting on and doing it, sometimes with a few written or verbal instructions as an aid, and sometimes by watching someone else - but there has been no formal induction or training." (Ref. 4)
Quotes from case studies in 'Making a Career with Small & Medium Employers', University of Hertfordshire Careers Service leaflet