Even with a strong job market and a high demand for skilled workers, employers are still having a tough time finding and keeping the right employees to meet their changing business needs.
Our 2024 Graduate Employability Report surveyed 1,000 U.S. employers and 974 recent graduates to shed light on this issue, highlighting how graduates’ perceptions are changing, the influence of AI on the workforce is increasing and post-secondary education is evolving.
The value is there, but opportunity knocks
Employability-focused curricula have changed how graduates see the value of their education: 73% of graduates surveyed think their education was worth the cost, a big jump from 52% in 2023. However, while their perception of the value has improved, there are opportunities to enhance GenAI literacy. In fact, 62% of employers believe candidates should have a basic knowledge of GenAI tools. But many grads aren’t ready to use GenAI in the workforce, and 70% of graduates believe GenAI training should be included in their courses.
“By bridging the GenAI skills gap, we can ensure our graduates are not just prepared for their first job but are equipped with the adaptability and technological fluency to thrive throughout their careers.” – Michael Hanson, CEO of Cengage Group, “Higher Education’s Value Shift”
To get a full account of how graduates and employers are feeling about the state of the workforce — and what educational institutions are doing to offer job-ready skills alongside traditional academic credentials — read the Cengage Group 2024 Graduate Employability Report.