The cost of hiring a graduate is on the rise, and not just because their salaries are increasing. It is becoming increasingly expensive to hire graduates for IT and tech roles - HR review estimated a cost of £5,433 to source, train, and place a graduate. Graduates who only anticipate sticking around for less than two years.
Why are Generation-Z moving on so quickly?
Generation Z-ers, young adults born in the late 90s onwards, typically spend three or four years in university and potentially another year in temporary or part-time work looking for the perfect role. As such they will want to get as much experience and training as possible, before seeking progression and experience from a range of employers.
So as an employer, do you want to invest heavily in recruiting someone, if they’re likely to leave after less than two years? Because it’s not just a financial investment, or rising salary expectations. It can take a considerable amount of time to source and train a graduate. Especially if you’re looking for a very specific set of skills.
The amount of roles for IT and technology graduates has increased 219% in the past ten years which is great news for graduates. For employers it means additional difficulty of finding the right person for the position. With numerous jobs available but a limited number of qualified people to fill the role, overheads for recruitment and training go up.
It’s also worth considering when a graduate intends to start their new role. Once they finish education they may want to take some time to travel after they graduate, and expect to commence work in the September or October. They might have to spend their summer months saving for a deposit on a rental property in a new city, and if you’re not willing to wait, another firm is, at which point you’re back to square one.
Now some companies are getting involved earlier, with 69% setting up their own graduate schemes, some even working with high schools to encourage students to take up more technical degrees, or breaking stereotypes by reassuring female students that IT and tech degrees are a viable career choice for them too.
Whilst some companies are able to invest heavily in outreach programmes, or have entire departments dedicated to engaging future talent - most will not have these resources.
So what is the solution?
Capita’s Novus programme
provides an answer. By recruiting all year round, Capita has new talent pools of graduates emerging at six week intervals. This ensures neither you, nor the graduates you are hiring, have to wait around to start their role. Furthermore, by being attached to the Novus programme, all Capita graduates have been recruited, tested, assessed, and trained for you. Plus, with a commitment to at least two years of employment, you have protection within your hiring.
If you would like to find out how the Novus programme can help you, please contact firstname.lastname@example.org or call 0161 274 7948.
Further information about Capita's Novus programme can be found in our brochure or by watching our video.