Understanding the next talent wave: Career expectations of graduates in turbulent times
Legrand, Valérie ; Quataert, Sarah ; Dewettinck, Koen ; Buyens, Dirk
Legrand, Valérie
Quataert, Sarah
Dewettinck, Koen
Buyens, Dirk
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2023
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Young graduates are the talent of the future, and they will become an important group in organisations in the next decennial. Whilst the inflow of graduates in the European labour market is increasing yearly (Green & Henseke, 2021), recent years have been characterised by economic uncertainty. The recession caused by the COVID-19 pandemic had a temporary yet detrimental effect on the labour market (Lee et al., 2020), and the question arises whether this led graduate students to lower their career expectations or whether the imprint of this generation is so strong that their expectations remain high. To gain more insight ino how organisations can attract, develop and retain graduates according to their current needs, our study examines the impact of economic uncertainty on the career expectations of graduates. Contextual forces such as globalisation, technology, organisational restructuring, and the growth of services have altered the way we look at careers and challenge what older generations have taken for granted (Barley et al., 2017; Dries et al., 2008; Rousseau, 1990). We also know contextual influences are likely to have a stronger impact than the generational cohort to which one belongs (Deal, 2007; Wong et al., 2008). To our specific interest is the impact of the COVID-19 recession on individual factors influencing the psychological contract beliefs that precede the employment relationship, i.e., the anticipatory psychological contract (APC) (De Vos et al., 2009; Rousseau, 2001). One considers this as the lens through which graduates view their future employment relationship and could be seen as the foundation for the development of their future psychological contract. Our study elaborates on three types of individual factors that are expected to impact their anticipatory psychological contract expectations: optimism, careerism and the desire for future job security (De Vos et al., 2009; Rousseau, 2001).We report data from three matched samples of advanced master students surveyed a few weeks before graduation. Sample 1 (N = 110) was surveyed in June 2017, whilst sample 2 (N = 125) and sample 3 (N = 97) were surveyed in June 2020 and 2022 respectively. Data were obtained using self assessment questionnaires measuring optimism (De Hauw & De Vos, 2009), careerism (Rousseau, 1990), and expectations about employer inducements (job security). All responses were provided using five-point Likert scales. One-way ANOVA analyses and post-hoc comparisons reveal significantly lower levels of optimism concerning the economic situation in graduates from 2020 compared to those graduating in 2017 and 2022. However, in comparison to previous graduate cohorts, each new cohort reports significantly higher levels of optimism concerning the jobs available given their skills and diploma. Our findings for careerism partially support the literature that this is rather a stable individual factor, not so much influenced by the socioeconomic situation (De Hauw & De Vos, 2009; Rousseau, 1990). Only when comparing graduates from 2020 and 2022, significant lower levels of careerism are reported by the latter. Lastly, master students graduating in 2020 attach more importance to job security than the ones graduating three years ago and in 2022. These findings demonstrate the impact of contextual factors on the career expectations of graduates. Students graduating in a period of recession report lower levels of economic optimism and a higher preference for job security than students graduating in a period of economic growth. The research presented adds to the existing literature on what new cohorts of graduates expect from 1086their future career and employer. In terms of practical relevance, our aim is to contribute to the research on the expectations and intentions of graduates towards their future employment relationship as it can provide important information for the development and implementation of effective human resources (HR)-practices towards new employees. As such, the intended audience can be both academics and practitioners.In conclusion, we hope to contribute to the ‘Decent work and economic growth’ Sustainable Development Goal as described by the United Nations with this research
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Anticipatory Psychological Contract, Career Expectations, Career Management