With the University academic year coming to a close in June, it’s that time of year again when Graduates are on the hunt for that first job! And Graduates have never had it better as 2017 is expected to be the fifth consecutive year that graduate vacancies have grown. So is your company ready to recruit the best Graduate applicants out there?
According to research by High Fliers, the country’s top employers plan to increase their graduate recruitment by a further 4.3% in comparison to last year. And Graduates seem to realise this increase in choice as more and more are turning down job offers they had previously accepted, meaning that over 800 graduate positions were actually left unfilled last year. This is creating uneasiness among Companies who are therefore having to improve the appealability of their job vacancies to ensure that this does not happen to themselves. Since 2015, the median starting wage offered for Graduates has remained at £30,000 which in comparison to ten years ago is an increase of £5,500. Business sectors such as Investment Banking or Law are the highest-paying sectors in the £45,000 bracket.
So with Companies expected to spend such high salaries to entice Graduates, it is essential that they invest in how they attract and recruit these new starters. But only 17% of top employers have increased their annual Graduate Recruitment budgets in 2017, compared to 28% last year. With less money to spend on recruitment, competition is therefore on to get the right person in order to maximize their rate of return. Half of the recruiters High Fliers interviewed said they hope to improve the quality of the graduates they recruited, ensuring that they don’t lack the essential workplace skills. Just under half of the UK’s top employers said they have seen an increase in the number of graduate applications they received, making it increasingly harder to source the perfect candidate. So while it is safe to say the graduate job market is the best it has been in years, it is all about recruiting right first time.
Here at Skillsarena, we create recruitment assessments that accurately measure key competencies, making sure your employee possesses the right skills you require for the job. We can help you shortlist your applicants for interview or even build a test component into an online application that compiles instant results, saving you time and money on reviewing submissions that don’t make the grade. We can design bespoke tests to suit the specific recruitment needs of your business and also offer a full range of psychometric evaluations to analyse performance, behaviour and motivation, which you can use to help graduates adapt into your current team dynamic. With Skillsarena you can get to know your potential employees before you hire them – ideal when recruiting new graduates with little work experience.
Why not discover more about what we can offer you if you are looking to recruit the best Graduate applicants by visiting our dedicated Graduate page over on the Skillsarena website.
Article originally posted on Skillsarena Blog on 4th May 2017