Sourcing graduate talent is rapidly becoming more urgent as employers prepare to face a diminishing post-Brexit talent pool. As KPMG takes the initiative in its recruitment process, what changes will your business make?
Here are our suggestions:-
Reduce your time to hire now
KPMG has taken the initiative this week with a significant reduction in its hiring time, to meet the expectations and demands of graduate talent. The company has refined its candidate assessments, which previously took place over several weeks, combining them into a single day. Applicants will now find out if they have a job offer within two working days, rather than face a lengthy wait. The decision was taken following a survey which found that a third of applicants were frustrated by the recruitment process.
The move was also in response to the growing competition for talent from start-up and tech companies. Sophisticated HR technology will provide insight into your time to hire as well as potential bottlenecks in your recruiting process that may be costing your business talent.
Focus on culture and meaning
Culture, as described by Deloitte, can be your company’s competitive advantage or Achilles’ heel. It recommends that employees should be treated as volunteers in order to create a ‘compelling and enjoyable’ working environment. The most effective cultures should transcend the workplace. Retail giant Arcadia epitomises this approach to attract graduate talent, offering an ‘experience’ at work. The CIPD reports its example of a community space, a DJ booth, summer working hours (an early finish on a Friday) and an Instagram competition to boost engagement.
Two recently released studies reiterate the importance of meaning and culture in attracting graduate talent. Accenture’s 2016 UK University Graduate Employer Study and Monster’s World of Work survey also conclude that happiness at work isn’t down to salary alone but finding meaning in work. A third of 18-36 year olds deem it essential that the values of their employer align with their personal values.
It is worth noting that the Accenture study also found that almost 80% of students graduating in 2016 now consider the job market before choosing which course to study at University
Attract more female graduates to your talent pool
The Association of Graduate Recruiters (AGR) last week reported that female graduates are most likely to get a job over men but they are less likely to apply. Women comprise 54% of the graduate population (excluding the medical profession) but only 47% apply to graduate schemes, although they are more successful in securing job offers than men. AGR emphasises that this is not about bias in selection or hiring processes but a genuine issue of industry failing to attract women. This will require collaboration between employers to overcome female perceptions. Monster’s World of Work suggests that young people, specifically women, suffer from low confidence levels, which could be responsible for their reluctance to apply for jobs.
The importance of verbal skills
The World Economic Forum identifies verbal skills as the most sought after communication skills in graduate recruitment, evident in presentation, listening skills and group or team work. These were regarded as more important than written, visual or electronic communication skills. Again, HR technology can identify priority skills through online assessment and the use of video interviews, for example.
Identify the graduate talent that will make a difference to your business. Advorto’s recruitment software is used by some of the world’s leading organisations to hire better people faster. Contact us today to find out more.
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