SA graduates confident about entering the workplace - Survey

Results from the first ever PPS Student Confidence Index (SCI) have revealed that South African students are optimistic about entering the workforce on completing their studies. The PPS survey, conducted with approximately 170 students, revealed a 79% confidence level when respondents were asked about whether their qualifications adequately prepared them for their respective professions.

The SCI survey also revealed a surprising 71% confidence level, when respondents were asked about the job opportunities available to them in South Africa once they graduate. Respondents to the survey were in their fourth year or above studying at a university or university of technology towards a profession specific degree, such as; engineering, medicine, law or commerce.

Macy Seperepere, Manager: Professional Associations at PPS, says that the results of the survey are very encouraging. “It is important to understand the mind-set of these future graduate professionals as it is these individuals who are in many ways will become the driving force behind the development of the economy.”

The results of the SCI also showed that 49% of the respondents believe that a degree is more important than securing employment.

Seperepere says that one of the biggest challenges facing the economy is the current brain drain of skilled professionals, who leave shortly after graduating. “This was also supported by results from the survey, which indicated that 59% of the students surveyed plan to move abroad for work purposes in the next five years after obtaining their qualification.”

“This is a real challenge and, based on these statistics, more needs to be done encourage young professionals to stay in the country,” she adds.

Nick Battersby, Chief Executive of PPS Investments, noted that while respondents revealed a confidence level of 71% in their understanding of financial matters such as budgeting and saving, 87% of respondents indicated that they would be more confident about their finances had they been taught about financial planning at school.

He says that although it is positive to see such a high level of confidence about financial matters, it is critical that more is done to encourage greater learning about finances within the schooling system. “Schools should consider implementing learning outcomes to teach pupils how to open bank accounts, how to file taxes, the basics of insurance and investing, and principles around planning for retirement.”

“Even though students are seldom responsible for financial expenses such as insurance, retirement annuities or life policies, it is important that they learn how to manage their finances at a young age so that they can foster good financial habits that will lead to future financial stability,” says Battersby.

In 2011, PPS conducted the first quarterly Professional Confidence Index survey to gauge the confidence levels of graduate professionals in South Africa. “Our reasoning has always been that it is incredibly important to track the levels of confidence amongst skilled occupations, especially with the acute shortage of skills that we are facing in the country,” points out Seperepere.

“Given that PPS has a niche target base of these graduate professionals we are in a unique position to be able to tap into and record the thoughts of this group, making a concerted effort to deal with their concerns. Now that we are starting to engage with the confidence levels of the students as well, we will be better able to address any issues within the respective professional fields that they work in,” concludes Seperepere.

To see student confidence index click here.