A graduate’s added value to your balance sheet is triple their investment cost. Now that’s what we call return on investment.
An NUS study found that for each £1 of public money invested in higher education, graduates return £3.22 to the economy in the course of their lifetimes.
So why sit back when you could be investing in a (3x) better future for your business?
What does this mean for local economy?
Locally, Birmingham Universities are responsible for generating 2.2% of Birmingham’s economic wealth, which is the result of 11,800 graduate jobs each year? In real time value, that equates to £460 million going into our local economy. All from graduates. And, for the UK as a whole, graduates contribute £80 billion added value.
Less cost, more value
It’s not just about the long-term investment. Graduate schemes also provide immediate financial benefits to your business. The average salary for graduates is between £19,000 and £22,000. With that cost-efficient initial investment, you get a professional hungry to learn with some industry knowledge and a brilliant, fresh perspective on how to drive your business forward. That’s cost savings and added value, double the fun.
Graduates ensure our industries keep moving forward and have ideas and innovations that could future proof your business. They’re eager to be involved and their passion brings a refreshing boost to your employee culture, not to mention their natural proficiency and embracement of technology, which in the digitalised world we currently live in is a huge advantage.
So, next time you consider hiring a graduate, look further than the financial commitment. A graduate scheme may seem daunting when you look at the initial costs to set up and find the right people, however, the immediate and long term value a graduate can bring to your business is your ticket to a much more successful future.