Today (14/09/15), we took a trip to the capital to be the first in the know about the Association of Graduate Recruiters Annual Survey results. Below are some of the key outcomes from the survey and what they could mean to you as a graduate employer.
13.2% more graduate vacancies in 2014-15
In today’s graduate marketplace, there are more and more graduate jobs being created for the ever increasing numbers of graduates entering the talent pool. The majority of vacancies remain in the capital, however behind London comes the West Midlands, with 7.7% of graduates ending up in graduate roles in the Midlands. Whilst an increased availability of graduate jobs is clearly great for graduates, this rise in roles is likely to make your job as a graduate employer a little tougher
The survey found that 8.2% of offers were reneged in the 2014-15 recruitment period. High quality graduates are in demand and if they are offered jobs by multiple companies, competition between employers becomes an issue. Are you ensuring that you have the most complete offer possible for graduates? One with adequate training and development opportunities, one where expectations are set and met, one that offers progression and is marketed well? It is these elements of a graduate programme that will allow you to stand out as an employer amongst the ever-growing competition.
72.6% of AGR employers offer internships/ placements
It is encouraging to see that nearly three quarters of AGR employers recognise the advantages of offering internships or industrial placements. In fact, the survey revealed that, amongst those AGR employers offering placement opportunities, 44.5% of interns went on to take graduate positions within the business.
This is proof of just how useful it is to get young talent through your doors as early as possible. If a placement student has already had an excellent experience of working in your business, and equally you were impressed and were looking to offer them a permanent role, then the reneging issue is highly unlikely to present itself. In a competitive market where the top graduates are highly sought after, offering internships is an excellent route to securing top talent early.
Retention rates for Graduate Programmes have stabilised:
-Only 11% of graduates leave in two years
–5 years is the median length of time graduates stay with a company
These statistics are encouraging and are finally in line with what we have been experiencing at Discovery Graduates over the past 2 years. So, how have the statistics caught up with us? These findings look exclusively at Graduate Programmes – not just recruitment, but development also, a fundamental part of any graduate offering. Back in 2014, we found that 74% of graduates that we had placed AND developed since 2009, through The OPEN Programme, were still working with the same business. Now, the AGR statistics are reinforcing the undeniable relationship between development and retention.
The findings also show that most schemes include a range of support mechanisms, including; an induction, off the job soft skills training, assignment of a senior mentor, support for professional qualifications and rotation placements within the business. Is your graduate programme missing one or a number of these ingredients?
If you would like to discuss any of these findings further, or find out more about the survey, please do give me a call on 0121 665 4060. I’d be happy to discuss any of the statistics with you.
Do keep an eye on our blog too as more and more insight will be revealed as we delve into the intricacies of the survey – always making sure the research is useful and applicable to you.