A person's GCSE and A-level choices are certainly very important when it comes to applying for a job, but they certainly aren't the be all and end all.

This is particularly true in a tough economic environment, when hard-pressed businesses will be demanding far more from new recruits than academic qualifications.

They want all-rounders who boast an array of valuable and useful skills, as well as some practical experience of operating in a working environment.

So with college and university leavers gearing up to enter a highly competitive labour market this summer, they need to make sure they fit the bill and offer what employers want or risk missing out.

According to a new study by Pearson Education & Skills and the CBI, many employers are planning to "upskill their workforces" during the next three to five years. Leadership and management skills look set to be in particularly strong demand throughout this period, but it seems some firms are not entirely confident of being able to fill these vacancies.

Indeed, the survey showed that about one in three companies believe lots of young people are leaving education without possessing various basic skills. As a result, many are having to provide remedial training to younger recruits to ensure they are capable of doing the tasks they are required to perform.

Self-management skills were said to be particularly scarce among this group, so people who have recently left school and college might be able to give themselves a competitive advantage by focusing on this area before applying for a job.

John Cridland, director-general of the CBI, stated that developing a "wider and deeper pool of skills" will be critical to driving economic growth in the future and ensuring Britain is able to operate on the same level as other countries across the globe.

"Levels of educational attainment are rising fast in many leading and emerging economies, so in the UK we must ensure that our education and skills system can continue to compete at the cutting edge," he commented.

Mr Cridland added that education is the most crucial factor that will dictate the lives of young Britons in the future and the country's long-term economic success.