A graduate recruitment programme is often considered by many to be the domain of the multinational corporation. Companies who have hundreds of thousands to invest in graduate training and who can absorb any unexpected costs should their hires fail to live up to expectations. But the truth is that every business be it big or small, can benefit a great deal from implementing a graduate recruitment programme.
But before we go any further, let’s have a look at why they’re such a boon to those entering the job market.
The benefits for graduates
As you can imagine, when there are hundreds of other newly qualified professionals hitting the market at the same time, landing the right role can be quite difficult. And with those experienced pros in employment open to new opportunities now more than ever, finding a job straight out of college can be an uphill struggle.
Enter the graduate recruitment programme.
Those who are accepted into a programme can relax knowing that they
can gain some relevant industry experience as soon as they leave education
have job security for a minimum of a year once they perform well
don’t have the stress of interviewing at multiple companies
will have reasonable targets based on their limited experience
For an inexperienced young adult straight out of college, a recruitment graduate programme can be the best possible way to get their career off to a good start.
Now, what about those on the other side of the interview table?
The benefits for employers and recruiters
While there are some employers who feel somewhat reluctant to hire straight from college, those in the know understand that graduate recruitment programmes have significant benefits.
Here are a few of the most notable.
Graduates are affordable
According to a gradireland survey, the average starting salary for graduates across all sectors in 2019 was €30,409. It might seem like a lot for an inexperienced graduate that may need some guidance over the first few months, but it is considerably lower than the average full-time wage of €48,946.
If we take the average salary as a benchmark, hiring a graduate could save the company almost €20k right off the bat. Even if we’re being a little generous with that salary, there’s no doubt that hiring grads fresh out of college is certainly a good move for a company on a tight budget. Particularly if there are plans to expand within the near future.
Fresh talent provides fresh perspectives
Graduate programmes give an employer the opportunity to bring fresh blood into a team that may be in danger of stagnation. This is often why employers covet fresh talent. Sometimes a team needs a disruptor who breaks the ‘rules’ and takes a different approach to an existing process.
In fact, this is one of the most interesting ways that companies have started to further diversify their workforce beyond the scope of gender and cultural backgrounds.
Graduates have the latest skills
Whether we’re talking about industry-specific skills or general business and computing skills, the graduates that make it onto a programme will have them in abundance. Not only that but they’re eager to use them.
While you will certainly need to bring graduates up to speed on internal working processes, they should already be quite familiar with the latest industry trends or developments in industry skills. And that brings us to our next point.
Graduates are quick to learn
Their brain is still in learning mode and so the shift from learning in the lecture hall to learning on the job isn’t such a great leap. This means that while they are certainly not pushovers, graduates are often easier to guide and give feedback to.
In short, they are eager and want to impress and that makes it a whole lot easier to integrate them into your team.
Programmes work in the long-term
Graduate recruitment programmes work in the long-term, but only if the employer makes a concerted effort to help the graduate visualise their long-term career.
Think about it this way. If a graduate has a clear roadmap that shows career progression once they reach certain goals, then they are much more likely to stay in the long-term. However, this career progression must also be rewarded accordingly.
Yes, they may have been hired for less, but they must be paid for the value they bring to the company. So it’s essential that any roadmap offers incentives to stay that include experience, ongoing training, and reasonable salary increments.
Graduates motivate those around them
As we said earlier, the average graduate is fresh out of college and eager to impress. They bring with them a raw energy and enthusiasm for the job that can become infectious.
They are good with technology, are possibly better at multitasking than some of your existing team members, and have that up-to-date market knowledge that allows them to talk on pretty much any industry topic. Add in those fresh perspectives and a proclivity to question everything, and you can see how they could bring out the best in an underachieving team or even one that just needs a little boost.
There are plenty of other benefits too such as the chance to be the company or recruiter that uncovers the next superstar of the industry. But even if you’re not that lucky, the benefits listed above are more than enough to justify a graduate recruitment programme. And that’s true no matter how big or small a company is.
If you’re struggling to hire the best talent straight from college or you’d like a little advice on setting up a graduate recruitment programme, then go ahead and give us a call. We’ll be only too happy to give some advice or help you find that superstar hire.