Employing graduates isn't something a company should be looking at if they are aiming to make immediate profits in the short term. However, when done successfully a graduate hire can be a great investment.
Companies are forever struggling to find future leaders within their current workforce, but a graduate will come into the business hungry for progression with a willingness to learn, which if leveraged correctly can pay dividends for years to come.
Are we big enough to have a graduate hiring strategy?
Graduate hiring isn’t exclusive to major corporations, in fact 75% of graduate jobs in the UK are offered by companies with less than 250 staff.
With more people completing university every year, you have a great opportunity to diversify your business with fresh skills and new ideas. You'll be working with a blank slate; someone you can quickly instil the core values and culture of your business without any preconceived ideas.
You can often find untapped talent that due to lower salary expectations represents a much more cost effective solution than hiring experienced candidates.
• Cost effective in comparison to experienced hires
• Introduction of fresh ideas
• Recently trained in technical aspects of a role
• A blank slate
• Highly motivated
• Only 26% of graduates leave within the first 3 years according to ISE
Compared to a hire with 10 years’ experience it may take a graduate a little longer to get up to speed initially, but within time they can become a huge asset to the business.
They will get to know your business inside out which gives the potential for them to become great managers. By harnessing their enthusiasm and ambition they will soon develop a “tribe” mentality, a feeling of belonging, which can be extremely powerful.
You have the potential to keep a graduate for the duration of their career, you gave them their first role, for which they will be forever grateful.