Generation Y, the generation that has been able to pick and choose roles and demand perks such as flexible working and sabbaticals, will have to learn to adapt to new economic conditions.

“They’ve got to be really open to looking at different opportunities and different sectors because it is incredibly tough to get in anywhere at the moment,” Philip Seager, managing director at financial staffing firm Alan Mitchell Recruitment, told Recruiter.

Several of Seager’s clients have been taking candidates on internships for mergers and acquisitions corporate finance analysts and are paying them a lot less than a permanent employee but with the potential for a permanent role arising. Before the recession, they would have recruited a permanent worker.

The attitude of candidates is paramount for Clare Harris, head of legal recruitment at law firm Lovells. Harris says the law firm is currently looking for graduates who will work hard and be responsive to clients and business needs. “We are always looking for people who are willing to learn, willing to come in with an open mind and willing to try their best. Their attitude should be to be as helpful as possible and to do the best they possibly can,” Harris adds.

For Stephen Isherwood, senior manager, graduate recruitment at Ernst & Young, the recession has brought about increased competition for places and has resulted in vacancies being filled more quickly. “We manage our pipelines very closely and are filling our vacancies sooner.
Graduates need to be aware that it is more competitive.”

The increased competition has meant that candidates need to reassess their options and consider temporary work with a view to a permanent job, according to Julia Vasie, joint managing director at commercial recruiter Huntress.

Vasie says Generation Y candidates need to be aware that her clients are now looking at using temporary workers rather than adding to their headcount. “We are about 75% on temps. It used to be a 60% temps and 40% perms split. The temp to perm conversion rate in London is roughly 30% and 20% in all other areas.”

Vasie adds that her firm makes a concerted effort to try and give candidates an overview of the current market and educate them on how to approach work. With so many more applicants, it is the ones with the positive ‘can do’ and ‘will do’ attitudes that will be fulfilling clients’ needs in securing a long-term temporary role or permanent post.

Education and clear communication is imperative right now, says Dr Charles Woodruffe, managing director at HR consultancy Human Assets. “Make it very clear what can and can’t be expected. Communicate clearly the vacancies you have, what you can afford to pay, what you can’t afford to pay, what you can afford to add as extras. It is down to communication.”

Ultimately Generation Y is a generalisation and shorthand for a particular type of person, says Woodruffe. “People born in certain set years behaved in a certain way because they have only ever known good times. Everybody was falling over themselves to recruit them. If it hasn’t sunk in that things are different, it surely will do.”