How To Improve Your ROI From Graduate Recruitment
There are many benefits of hiring fresh graduates to fill vacancies within your business as graduates often offer different perspectives and critical thinking skills that can help your organisation to grow; they are adaptable to emerging technologies and willing to embrace new trends; and they represent the next generation of leaders who will drive innovation. The cost of recruiting a graduate student is sometimes a concern, particularly for small and medium-sized enterprises (SMEs) that have limited funds and depend on securing a healthy return on investment (ROI).
In this article, we’ll explore how your business can improve the ROI of hiring university leavers, and the value of professional training, such as a graduate leadership development programme.
Diversify Your University Pool
When scouting for potential graduate candidates, it’s important to cast your net widely to encompass a more diverse range of universities and inject variety and dynamism into your workforce. Focusing your efforts entirely on the Russell Group of universities, for example, risks creating a homogenous workforce that inadvertently stagnates creative thinking and promotes a groupthink culture. A more diverse staff, in contrast, unlocks the individual strengths and perspectives of each team member and stimulates problem-solving when tackling complex challenges that are essential for business growth and adaptability.
Empower With Development Programmes
With graduates citing a lack of interest from employers in their professional development as a key reason why they leave their positions, it pays to invest in development programmes to improve their performance and job satisfaction. According to research by FirstYearIn, employees in the early stages of their careers can achieve optimum productivity 30% quicker if they participate in professional development programmes. As well as improving their self-worth and engagement with the organisation, development programmes, such as our graduate and early careers programmes at GRA, also improve overall efficiency and business performance.
Mitigate Staff Turnover With Development Initiatives
The cost of staff turnover can be staggering for businesses, particularly when it comes to graduate employees, and it’s disheartening to see promising talent leave soon after their appointment due to a perceived lack of growth opportunities. Statistics indicate that only 56% of graduate recruits are likely to remain employed by their first employer after five years, often because they feel undervalued or unchallenged. Implementing professional and personal development programmes can help to address this problem. By demonstrating a commitment to nurturing graduates’ skills and career progression, you will decrease the likelihood of high staff turnover, reducing recruitment and onboarding costs, and promoting a more stable and experienced workforce.
Contact Us To Find Out More
At Grahame Robb Associates, we design and deliver bespoke graduate development programmes to ensure your new recruits have access to the professional training and resources they need to add value to your organisation and deliver a healthy ROI. To find out more, please get in touch with our specialists today.
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