Interview with Prof. Plünnecke on the IW study

Professor Plünnecke, in your latest report, you describe the challenges currently facing the German economy: demographic change, digitalisation, decarbonisation, and deglobalisation are four key terms. What do companies expect from university graduates who might be available as future workforce?

Companies expect future university graduates to have practical experience as well as social and personal skills. The most valued social and personal skills in the recruitment process are independence, the ability to solve problems, proactive action and initiative, conscientiousness and openness to new ideas. These skills are strengthened by a stay abroad during studies and internships abroad. These skills are strengthened by spending time abroad during studies and internships. Additionally, innovative and international companies in particular attach great importance to intercultural skills and a command of foreign languages. These companies particularly consider a stay abroad more important than adhering to the standard study period.

To what extent can universities contribute to shaping the transformation process?

Universities play a central role in the economic transformation process. They must continue to train the necessary academic professionals, increasingly including international students from abroad. This requires more impetus for innovation through the transfer of knowledge from their research and the provision of expertise on global issues. Innovative and international companies see temporary stays abroad by German students as an important task. From the perspective of companies, the internationalization process is supported by access to international networks, a pro-European attitude in society, and the openness of the region where they are located. Supporting international students both at home and abroad can also be helpful in this regard.

What should actors in national (education) policy and the European Erasmus+ program, about whose next program phase is currently being intensively discussed, take into consideration?

Overall, the study shows that internationally educated students strengthen various competencies during their time abroad that are important for economic performance. In addition, international students can improve the pro-European attitude and openness to the world in society. Economic performance and societal openness are crucial for mastering the challenges of transformation. Programs like Erasmus+ should also be further developed at national and European level in the future. Expanding internships is conceivable here to further enrich the positive effects of studying abroad on social and personal skills with practical experience.

Link to the article by Prof. Plünnecke on studying abroad from an Economic Perspective