By: Maurice Gilbert
Do you remember your first “real” job? That initial grown-up position is usually formative and eye-opening, though not always in a positive way. A sizeable portion of recent graduates, in fact, have quite disappointing first forays into the real (business) world.
Executive advisory firm CEB has conducted a study recently revealing that a majority of graduates regret their first role out of college. The findings are outlined in the firm’s report, “Driving New Success: Strategies in graduate recruitment,” which also revealed that some 25 percent of new grads leave their first role within 12 months..
These are troubling findings for organizations that dedicate a hefty portion of their recruiting budgets to attracting the best and brightest of upcoming graduates.
CEB’s paper sheds light on an apparent gap between the strategies companies use to attract university students and the qualities that those students find attractive in prospective employers. Among the items that most interest graduates are employer brand and reputation, yet statistically companies dedicate only around 5 percent of their recruitment budgets on those areas.
Likewise, graduates are interested in knowing that are there opportunities for advancement and growth in the firms they pursue. This is another area where many organizations fall short, with no clear vision for how to develop and retain top talent. What’s needed most among these businesses, where turnover among new grads is high or where graduate positions go unfilled for long periods of time, is an entirely different model: one focused on building and promoting the company brand.
Maurice Gilbert is Managing Partner of Conselium Executive Search which specializes in placing Compliance Officers and Regulatory Counsel for clients in the U.S., Europe, Latin America and Asia Pacific. Maurice can be reached at www.conselium.com or email@example.com.