Graduates right now are competing for roles not only with international and mature classmates but with the 2020 cohort too, thanks mainly to the pandemic and subsequent changes in the economy. With graduate places cut by -15%* in some of the top graduate recruiting firms in 2020 as a result of the fallout from Covid, the hope is that roles will follow the same upwards trajectory of the wider jobs market in 2021. Already we see positive signs on Reed.co.uk, with jobs posted in our Graduate Training & Internships sector up +365% year-on-year.
So with more graduates than ever searching for opportunities to put their acquired skills and knowledge to work and an increasing number of jobs being advertised for this audience, now is the time to define and refine your company graduate scheme to attract top talent.
What type of graduate scheme is best?
This truly depends on the purpose and structure of your business. To get the best out of your graduates, don’t assume a one-size-fits-all approach. Consider what resources you can dedicate to graduate training and also the duration of the scheme as you look at the three main types of scheme you can deliver with your individual company nuances added in;
Rotation scheme
A broader option for graduates, rotation allows both parties to try out different departments and functions within the business. Your graduate may not have entirely decided on a set role or career path just yet. Here, they benefit from multiple environments to increase their skill set and establish where they fit into the mix. At the same time, you can observe where they add the most value and productivity to your business. This is a versatile and comprehensive experience of real-world work for graduates with supported learning throughout.
Most suited to broader managerial, business services and sales roles, a great example is the award-winning Reed Graduate Scheme.
Role-specific scheme
Sometimes referred to as a technical expert scheme, this style tailors to graduates who have specialised in niche studies or have a very clear view of what they want to do for a career. With a wide range of sectors and job roles included, this is a fantastic way to offer growth and development opportunities while serving a need within your business. You can tailor your scheme to the dedicated role, from creative industries and IT to construction, engineering, and medical—for example, a graduate industrial automation engineer, PMO analyst, editing assistant or A&R specialist.
Project scheme
A hybrid of the two, this scheme style offers graduates a well-rounded business experience with a specific skill set in the background. This may work better for your business if you are looking to develop a niche skill set that has aspirations for management and business growth in the long-run. In addition, agencies and smaller companies can benefit from this where said niche roles can require a more abstract combination of skills and study to drive the business forward, such as technical design combined with client services.
Application, interview and selection
Graduate scheme selection processes generally follow a similar pattern, so here is where you can make efforts to stand out with yours. The general order of service is as follows;
Online application – Following what is hopefully a compelling and thought-provoking round of promotion through the appropriate channels, the online application is your first step towards refining your pool of graduate talent. Don’t leave them to freewheel it here. Instead, ask pertinent questions to get them to dig deep as to why they want to pursue your opportunity.
Cover the basics, of course, such as;
Introduce yourself/Tell me about yourself
Why have you applied to our graduate programme?
What are your strengths and weaknesses?
But you can delve a bit deeper here too, and ask well-rounded questions for balance;
What makes you get up in the morning?
What makes you stand out?
What was your biggest accomplishment at university?
What was the worst part of your course?
Psychometric testing – aptitude and general skills tests are a great way to gauge knowledge and character across all scheme styles. Where you are looking to recruit into a technical scheme, there are tests designed to cater for those specifics, or you can even create them yourself. Just be mindful that you haven’t met them yet, and psychometric testing doesn’t always uncover softer skills that could blow you away at an interview.
First interview – telephone or online, this next stage helps you better understand someone’s confidence and how they may perform under scrutiny. This is absolutely not a way to catch anyone out or apply undue pressure. Rather, an opportunity to see how an individual puts themselves forward in this situation, particularly in client-facing and team-based roles. Try not to read from a sheet or deliver wooden questions. Instead, take the time to put them at ease and get a conversation flowing to determine if they go for further assessment.
Assessment – traditionally, these have been held in groups on half or full-day formats, delivering a range of scenario-based tests to challenge the candidate. However, in light of the last 18-months, companies have adapted to provide online testing to keep everyone safe and within guidelines. As restrictions ease, you may want to consider delivering your assessment face-to-face or an abridged version with fewer people and reduced touchpoints throughout.
However you choose to conduct your programme, consider your terminology and content for the market you are recruiting for. So, for example, if the scheme is for a creative industry, then deliver a creative assessment, IT-based for IT and so on. Tell them what they can expect in advance – job simulation or immersive scenario-based assessment, or just assessment centre – and use language in a way that suits your brand and business.
Face-to-face interviews – the final hurdle and the chance to really drill down into personality, character, and willingness to learn within the role. Equally important to remember is that this is their chance to interview you too. Historically, these interviews are intense and somewhat an excuse to put the candidate through the wringer. While you will certainly look to put them through their paces, they have done a lot to get to this point and will be looking to check if the opportunity is equally as suitable for them as they are for you. What can be the chance of a lifetime for them can be a pivotal opportunity for growth for your business, so take your time to get the information you need at this stage.
What’s your graduate scheme, USP?
While graduate schemes tend to follow a general story arc, the scope to make your offering stand out is vast. Aside from a competitive graduate salary and the material things you can offer – which are very welcome – graduates will be looking for high quality, meaningful mentorship and development throughout their time with you. Delivering on this with a thoughtful and personalised approach will result in a very happy graduate leaving you with glowing testimony of your business or a confident, productive and integral part of your business nurtured from the ground up to help you achieve great things. Either route has a significant return on investment for you.
With your perfectly curated graduate programme polished and ready to go, head over to the Reed.co.uk CV Search and take a proactive approach to find the graduates you want in your business.
*Highflighers The Graduate Market Report 2021
