GMAC’s annual survey of corporate recruiters indicates high confidence, predicts strong hiring
RESTON, Va., July 2 (Bernama-GLOBE NEWSWIRE) -- Despite concerns about inflation and recession risk, employer confidence in graduate management education (GME) and its ability to prepare business school graduates to be successful in their organizations has reached new heights since the pandemic, according to an annual survey of global corporate recruiters of business graduates released today by the Graduate Management Admission Council (GMAC). This increase in confidence was seen across key industries business education caters to like consulting, finance and accounting, as well as technology. The best news for today’s business school graduates is that employers' appreciation translates into optimistic hiring projections, with the majority of global recruiters planning steady or expanding hiring in 2024. A third expected to hire more MBA graduates than last year.Notably, employers’ renewed confidence in GME is reflected in the growing number of them who say business school graduates tend to outperform their other employees, fast-track to upper-level positions, and earn more than other employees, and the share has grown in recent years despite – or perhaps due to – the rapid rise of technologies like generative artificial intelligence (AI). With the attention AI has received, the responding employers do not necessarily believe the predicted changes have hit their workplaces just yet, with only 26 percent considering AI to be an important skill for current GME graduates to leverage in their organizations. However, when asked which skills will be most important in five years, AI ranked high across regions and industries. More importantly, employers consistently value problem-solving and strategic thinking as the top skills for GME graduates of both today and tomorrow, and these core competencies are seen as essential around the globe.
“As disruptive technologies like generative AI reshape the labor market and the skill economy expands, employers are putting a premium on strategic thinking, people leadership, and problem-solving while betting on the rising importance of tech prowess. To achieve success, future business leaders will need to harness technological advancements and possess the knowledge and experience to manage the change brought on by these evolutions,” said Joy Jones, CEO of GMAC. “This year’s Corporate Recruiters Survey affirms that graduate business programs continue to be uniquely positioned—and trusted for their ability—to develop business talent with increasingly relevant and cutting-edge skills, who are equipped to tackle new and perennial challenges with a balance of tech and human understanding.”
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