Employers can take advantage of the challenging financial climate by recruiting from a larger pool of graduate candidates, an expert has claimed. Graduates are facing an intense scramble to get a job, a poll of employers shows that the number of applicants for each vacancy has surged to nearly 70 applicants, and a decrease in the number of positions available by 7 per cent.
Minister for transport Lord Andrew Adonis says the recent economic downturn will bring an end to the tendency for many businesses to select new employees from top universities only.
He pointed out that this could potentially increase levels of competition in sectors such as education, engineering and public services.
"As a new generation of graduates revalue their expectations, employers can seize this crucible moment to establish themselves as careers of choice for the most able, driving a new British spirit of public service and industrial ambition." Lord Adonis told the Times.
He advised companies to strive for the best talent by implementing challenging graduate training programmes.
How do companies achieve advantage within the graduate recruitment pool across the UK:
1) Implement a concise and challenging graduate training program
2) Ensure that there is a full development and career plan
3) Communication is key ensure that there is a full two way communication process
4) Ensure that there great incentives / bonuses to ensure that graduates are incentivised when challenged
5) Coaching and mentoring is a great way to ensure that new and existing graduates have someone to talk too or help through the first few years
A recent study conducted by Mercer indicated that employers are reluctant to cut back on benefits for their staff in the face of the economic downturn. A study conducted by Mercer indicated that a high proportion of companies have stopped short of making drastic cuts to employee benefits, reports Onrec.