As the first generation of 9,000-a-year tuition fee graduates enter the workforce, businesses in every sector need to ensure that they are equipped to appeal to this new talent pool.
With UK employment rates faltering, businesses must consider how they are set up to connect with top candidates. A deeper talent pool might mean more candidates, but it also makes it harder to attract and secure the best. With strong competition for the highest potential graduates, companies must adopt a strategic and fresh approach to attracting and retaining the right talent.
Many companies have begun to think about what the influx of Millennials means for them and how they operate internally. However, they must also consider how to best attract this generation, designing recruitment processes aligned with this tech-savvy and ambitious workforce.
1) Graduating beyond the current workforce
Kevin Wheeler, founder and chairman of the Future of Talent Institute, recently argued at our UK Talent Rising Summit that the traditional “job” has become outdated.
Today, people increasingly seek work and projects that are flexible and change in line with their growing skill sets. Not all businesses are set-up to provide such adaptable careers with many relying on standardised recruitment processes and career paths.
For example, while graduate schemes have been popular for years, offering a foot in the door into organisations of all sizes, many people no longer aim for “careers for life” in their first post-education role.
As a result, employers must ensure they encourage the creation of exciting and diverse career paths well beyond the graduate scheme, or they risk losing newly trained employees at an early stage.
2) On the job training
Rather than making the tea, giving new starters autonomy and compelling work that suits their skills and interests will encourage them to engage with a role, and work harder in the future.
The recent CBI / Pearson Education and Skills Survey found that 22 per cent of respondents provided basic skills training for university leavers over the past twelve months. This was up from 15 per cent in 2014.
Graduates have been criticised for their lack of work experience, but employers who want to get the most out of their new hires are equipping new staff with the right skills for todays businesses.
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