A recent survey conducted by AGR, the Association of Graduate Recruiters, gives us a very good sense of how companies, mostly UK-based, are recruiting recent graduates:
Online applications via corporate websites remain the first channel of graduate recruitment, with 99% of companies reporting using them to recruit young graduates. And 89.3% of employers have put in place assessment centres as the central recruitment event to select the talent that best fits their needs. Either during this assessment centre, of before inviting final candidates, 67.3% of recruiters use psychometric tests to evaluate traits of personality and adequacy to the mission and corporate culture.
All this means that companies have implemented very formal, very structured recruiting processes to be sure they end up hiring the right candidate. A process that can take up to 2 months and include several rounds of interviews as well.
In terms of opportunities for students willing to gain experience, over 85% of recruiters reported offering placement and/or industrial programmes, besides the typical “summer internship”. This is of particular interest for Gap Year students who prefer spending 12 months in a mission rather than changing companies every 6 months.
The majority (97.5%) of recruiters have formal induction programmes and 89.3% have a graduate programme. Induction programmes allow for new hires to integrate swiftly into the company, receive basic training and make new contacts with key people in the organization. On the other hand, graduate programmes offer young employees the opportunity of a special track, where they will change missions and locations, get special management training and mentorship, and create a network among the members of the same “intake”. Most (61.1%) of these programmes last between one and two years. 78.8% of employers operate rotational placements and 45.6% of these have 4 rotations, whilst 24% have 3 rotations.
Graduate programmes commonly use on the job training (90.7%), training away from the job (84.2%) and training for professional qualifications (61.7%), like the CFA.
How do companies evaluate their recruiting processes and graduate programmes?
The success of graduates is most frequently measured by retention rates (94%), followed by performance measures (86.7%), and formal feedback by managers and graduates (85.3%).
Understanding how companies recruit is of utmost importance for you:
It can mean the difference between landing or not your ideal job. This is why we recommend spending a good deal of time in writing the application form: do not take it as a mere formality; recruiters really use it as a big filter. And prepare extremely well for the long, challenging, sometimes exhausting assessment centres. You are competing with the best students from all over Europe!
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