Does your company need a graduate attraction strategy?
Graduates really are great for your business: They come in with loads of enthusiasm and a fresh perspective on things, opening up the workplace to more creativity. But with the current skills shortage and the war on talent, the best graduates are snapped up easily these days.
Competing for talent
In fact, 75% of employers who are looking to recruit graduates stated that it was very or moderately difficult to find good graduates (Kaplan, 2014). The reason is that nowadays graduates have an increasing amount of employment options available to them and they can be picky with the kind of roles they take and the career routes they want to embark on.
Thus it’s no wonder that in 2015, 1,074 graduate vacancies were left unfilled out of a total of 19,673 places. Total vacancies are expected to increase even further by 7.5% in 2016 (High Fliers Research Limited, 2016) to reach an all-time high in 2017 and making talent attraction even harder for companies.
Get the talent
So if you want to stay ahead of your competition in the war for talent, you want to be asking yourself: How can I attract young talent? The answer is simple: You need to have a sound graduate attraction strategy in place.
That means you want graduates to know about you but not only that. Most importantly, you want them to have a positive image about your company and its culture. Communicate your employer brand attractively and position yourself as a great place to work for recent graduates. If a graduate wants you, you've done a great job.
But let's not stop at simply attracting a sufficient amount of top graduates to fill your vacancies. You want your graduate recruitment strategy to also attract the right kind of talent.
That way you can ensure that they match your business needs now and in the future and can add value to your business at an early stage. Increasingly, graduates leave after one or two years on the job which not only incurs high recruitment costs but also hurts the company’s succession planning strategy. Making sure there is a good fit between the candidate and the company, both in terms of skills and values, is the key to high graduate retention rates and ultimately lower costs.
Now that you're aware of the importance of a good graduate recruitment strategy, here are just some ideas to get you started on winning the talent war…
There is a lot of research out there about your target market: Generation Y graduates. Use it to your advantage and find out how best to talk to them and through which channels. You always want keep in mind what graduates are looking for from you as an employer when designing your graduate attraction strategy. A study by MyKindaFuture found that 55% of 16 to 24 year olds would appreciate guidance and employment inspiration from individual employees of a company (High Fliers Research Limited, 2016). Employers who come to their educational institutions and who run workshops, provide advice and talk about career opportunities are desired by a whopping 94%. Engage them early on in their studies and think about offering paid internships, work placements or vacation work. Recruiters confirmed that they expect to fill 32% of their entry-level roles with graduates who have previously worked for them (High Fliers Research Limited, 2016).
Time to get your employer brand and graduate attraction strategy right to beat your competition in the talent war.