Katie had been applying for several graduate jobs, particularly in accounting. Over the past few months, she participated in assessment days, virtual presentations, and other pre-interview activities. However, she had just received her fifth rejection, making a graduate job seem out of reach. Like many students, Katie would thrive in the workplace due to her ability to grasp concepts quickly, solve problems, and apply herself in various situations. She completed an internship last summer after earning a first in her second year, and the company offered her a graduate job in the finance department. However, Katie aspires to be an accountant and aims to complete her professional exams, so she is still waiting for the right graduate job.

So, what was the problem? Despite her academic excellence, Katie hadn't developed some crucial employability skills needed for success during the interview process, which typically includes assessment days, interviews, and presentations. Comparing Katie with another student, the difference in employability preparation is clear. For comparison, we can talk about Noman who has invested time in developing his employability skills. A few weeks ago, Noman returned from Romania after his team's success in an international business competition. Five students from the university entered the competition, winning each stage, and are now representing the university at the final event in China. Noman is also a Peer Assisted Learner (PAL), supporting first-year students with their academic studies and participating in marketing activities, networking events, and visits. Therefore, although Katie is academically stronger than Noman, he has seized every opportunity to develop his employability skills. He is articulate, confident, and can network effectively because he understands and appreciates the soft skills needed to succeed in a corporate environment.

In today's competitive job market, university students must equip themselves with more than just academic knowledge. Employability skills – the abilities and attributes that make individuals more likely to gain employment and succeed in their chosen careers – are crucial for standing out to potential employers. A study conducted by the CMI highlights that nearly 80% of employers believe graduates aren’t work-ready upon entering the employment market. But who is responsible for developing employability skills: universities or employers?

When students start our Accounting and Finance programme, we have one message: ‘get out of your comfort zone’. We encourage students to explore, engage, and experience every opportunity they can access to start developing the skills needed to be successful in the workplace. Furthermore, the Accounting and Finance programme has professional development embedded into the curriculum at each level. Students complete a full unit on professional development each academic year, exploring various areas with a focus on applied knowledge. As part of the final assessment, students produce CVs tailored for specific jobs, create LinkedIn profiles, attend mock assessment centres, create online presentations, and engage with various companies. Lecturers, personal tutors, and support staff also encourage students to participate in optional events like guest lectures, employer and alumni panels, CV-building workshops, and other activities. This strategic introduction and development of employability skills throughout the programme has allowed all our students access to these crucial skills.

Employers also play a significant role in developing university students' employability skills, particularly mid-tier firms. We have found that when employers actively engage with our students through site visits, networking events, and guest lectures, our students respond positively. Strong employer engagement can motivate, inspire, and focus students to take responsibility for their own development. At the same time, employers can see the talent on offer and recruit for their companies.

The reality is that not all students fully engage with their professional development, but those who do tend to secure graduate jobs and develop a strong foundation for workplace success. The benefits of developing employability skills are numerous; skills such as communication, teamwork, problem-solving, and adaptability are what employers seek in potential graduates. University students who can articulate their ideas clearly, listen actively, and collaborate with others are more likely to succeed in networking and establishing connections that lead to job opportunities and career advancement. By focusing on developing these skills alongside their academic studies, students can build professional relationships, adapt to workplace changes, demonstrate leadership, improve problem-solving abilities, increase confidence, and foster a positive work ethic. Investing in employability skills is an investment in a successful and fulfilling career.

So, going back to who is responsible for developing employability skills for university students, universities or employers? From our experience, strong strategic partnerships between universities and employers, whilst working together for a common goal, have had a positive impact on our students. The accounting profession is competitive, and our students need to meet workplace demands to be successful. Both universities and employers must work together to prepare students for industry. After all, it is hard work being an accountant: we live in ‘accrual’ world.