> ANATOMY LESSON
HIGH FIVE FOR GRADUATE PROGRAMMES RECRUITING AND RETAINING RECENT GRADUATES IN THE UK IS A COSTLY ENDEAVOR FOR COMPANIES AND A MAJOR PREOCCUPATION FOR HR AND TALENT MANAGERS. SO-CALLED GRADUATE PROGRAMMES—NOT TO BE CONFUSED WITH GRADUATE STUDIES OR GRADUATE SCHOOL— ARE EMPLOYMENT PACKAGES WITH PERKS. THESE SCHEMES, TARGETING RECENT GRADUATES, HELP KICK-START THEIR CAREERS AND GET THEM ON A FAST TRACK TO SENIOR ROLES WITHIN THE COMPANY. A NEW EDHEC SURVEY FINDS OUT FROM PARTICIPANTS JUST HOW WELL GRADUATE PROGRAMMES ACTUALLY LIVE UP TO THEIR PROMISES. CONTRIBUTOR MANUELLE MALOT, Director of the EDHEC NewGen Talent Centre
long list of UK companies – among them TKMaxx, Rolls Royce and Sky – operate inhouse programmes to benefit recent graduates and help them develop long, fruitful careers. According to High Fliers Research, 27 major UK employers increased their graduate recruitment budgets for 2013-2014, with five employers reporting that their spending had increased considerably. These programmes are also growing in popularity in France. Société Générale, Orange, Carrefour are a few of the big French firms offering graduate schemes. Participants in these programmes get a chance to work on different projects across different business units, which can be helpful for individuals needing to select an area of specialisation. They benefit from networking opportunities with upper management. A typical programme also includes mentoring and coaching. And with perks such as a free car or a year spent working abroad, no wonder these schemes are so appealing—not to mention competitive—among recent graduates.
N°03 | OTHERWISE THE EDHEC BUSINESS MAGAZINE |
You are looking to boost your career. You want new challenges so you can grow and climb up he ranks.
Graduate programmes would appear to be a win-win. NewGen Talent Centre researchers surveyed 205 graduate-programme, 60% French and 40% international. The majority of participants were in specialised programmes such as finance, marketing or HR. The average length was 24 months with an average of three rotations in different departments; 30% had at least one assignment abroad. One third of participants had an HR coach, and close to 40% benefited from having a senior manager as a mentor. Results show that participants highly appreciate graduate programmes, which largely address three key objectives: acquiring new skills, opening up international perspectives and boosting careers. What’s more, 75% of participants stayed on at the company following the graduate programme, and 90% would recommend this type of programme to others. Talent managers should note that, upon completion of the programme, “job opportunities to match the career plans [of participants] are the key factor in retaining them,” insists Manuelle Malot, Director of the EDHEC NewGen Talent Centre.