New research from the National Centre for Universities and Business (NCUB) reveals that 53% of university graduates who completed their studies within the past five years now hold senior level jobs.
The findings underscore the critical role universities play in equipping graduates with the skills needed for the workforce, as well as the need for stronger collaboration between universities and businesses.
The research highlights several key insights into graduate employment trends and the effectiveness of higher education in preparing students for their careers. According to the study, more than three-quarters (79%) of graduates found their university course helpful in developing skills for employment. However, graduates also emphasised the importance of businesses working more closely with educational institutions, with 88% agreeing that companies should collaborate more with universities to help students understand career paths.
Importance of Work Placements in Securing Employment
The survey also revealed the value of work experience, with 42% of graduates having completed a work or industry placement as part of their course. Of those who undertook such placements, an overwhelming 89% said the experience was beneficial in helping them secure employment after graduation.
Additionally, more than two-thirds (69%) of graduates indicated that their university course had been instrumental in furthering their career or achieving promotions. The data also shows that 70% of graduates found paid employment within two years of finishing their degree, underscoring the effectiveness of higher education in helping young professionals enter the workforce.
Skills Gap and the Role of Universities
Dr Joe Marshall, Chief Executive of NCUB, commented on the urgent need to address the UK’s growing skills gap. “The UK is facing a critical skills gap that is threatening national growth and future competitiveness,” said Marshall. “Two-thirds of large businesses are struggling to recruit employees with the necessary skills, directly impacting productivity and performance. With 7 million workers projected to be under-skilled by 2030, reskilling and upskilling the workforce is a pressing challenge.”
The research highlights the need for universities and businesses to work together more closely to address the skills shortage. According to Marshall, universities have a vital role in helping to bridge this gap, as more than half of recent graduates now hold senior positions and the majority report that their university education was helpful in gaining employment-related skills.
Collaboration for Future Skills
NCUB’s latest report, Collaboration for Future Skills, highlights the importance of partnerships between universities, businesses, and other stakeholders to meet the evolving demands of the labour market. Marshall noted that while universities are already contributing significantly to closing the skills gap, more needs to be done to foster collaboration at scale. “Barriers still hinder partnerships at the scale required to meet this growing challenge,” Marshall stated.
The report calls on the government to take action by partnering with universities and businesses to support greater collaboration on developing future skills in higher education. Specifically, NCUB recommends that policies be put in place to streamline national skills systems, allowing universities to align their programmes with the needs of both students and the job market.
Marshall concluded by urging government support: “Policies should streamline national skills systems, enable regulators to support university programmes that meet both job market needs and student interests, and encourage university-business partnerships.”
Addressing Future Workforce Needs
As the UK faces significant challenges in preparing its workforce for the future, the NCUB research provides a clear indication of how universities are playing a critical role in equipping graduates with the skills needed to succeed. However, the growing skills gap, projected to worsen by 2030, remains a pressing concern for businesses across the country.
Stronger partnerships between academia and industry, combined with government support, are essential to ensuring the workforce is prepared for the demands of an evolving economy. With a large portion of graduates expressing the need for better collaboration between businesses and universities, it is clear that efforts must be made to enhance these relationships in order to secure future economic growth and competitiveness.
