Data points to recruiters keeping headcount stable in 2020 as employers exhibit caution in maintaining talent amidst downturn
RESTON, Va., Sept 22 (Bernama-GLOBE NEWSWIRE) -- The Graduate Management Admission Council™ (GMAC™), a global association of leading graduate business schools, in partnership with MBA Career Services & Employer Alliance (MBA CSEA), the European Foundation for Management Development (EFMD) and Highered has released its annual 2020 Corporate Recruiters Survey. As this year’s report was nearing conclusion in March, COVID-19 was unfolding. Given the disruption caused by the global pandemic, GMAC initiated additional data collection to expand those results to provide more relevant insights about the economic impacts of COVID-19 across hiring and salary trends. Additionally, deeper perspective was gained on the skills that employers are looking for as organizations continue to grapple with the economic downturn. In this year’s report, employers expressed optimism for the future which is noteworthy given the uncertainty and economic retraction that has gripped the global economy since March. Before COVID-19, 92 percent of firms expressed intent to hire MBA graduates in 2020, a figure that dipped to 77 percent during sampling amid COVID-19. However, when asked about hiring plans for 2021 nearly 90 percent of employers said they plan to hire MBA graduates, a level similar to the rate seen in the pre-COVID sampling. “When thinking about the skills and experience required to help organizations and industries rebuild after an event like COVID-19, it makes sense that employers are expressing a desire to hire more MBA and business master’s graduates,” said Sangeet Chowfla, president and chief executive officer at GMAC. “The world was changing rapidly even before the current pandemic and while COVID-19 has brought with it perhaps unprecedented challenges across every sector, b-school classrooms have long been preparing MBA students for a dynamic and often uncertain environment. Employers place a premium on that kind of talent and perspective.” mrem.bernama.com/viewsm.php?idm=38199
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