With around 2.38 million students enrolled in higher education in the UK in 2018/2019, there is an abundance of students and graduates who are eager to further their work experience or land their first post-graduate role.

Given the suggestion that the economic fallout from Covid-19 will be greater than that of 2008, students and graduates are facing the toughest job market in years. There are fears there could be an additional 640,000 18-24-year olds facing unemployment in 2020 alone. With this in mind, it is imperative that businesses invest in the next generation. Young people will be a valuable asset in the UK’s economic recovery as they secure opportunities to progress their future careers.

But what are some of the benefits of employing a student or graduate?

  • Increased Motivation

    Students and Graduates present a fresh work ethic and a positive outlook. Due to their years of education, they will be ready and enthusiastic to gain experience to progress their career. Alongside this, employers frequently report that employing a student or graduate helps to increase productivity across the whole workforce.

  • Cost-Effective

    Employing a graduate is not only cost-effective due to their entry-level salary, but it is also an investment in the return on their future potential. It is reported that employers can expect a return on investment between 500% and 800% on graduate recruitment, due to the rapid increase in ability in comparison to the increase in salary. This is why the Institute of Student Employers has outlined that graduates contribute around £1 billion to the UK economy annually.

  • Fresh Outlook

    Students and graduates can bring a fresh set of eyes into the business, providing different perspectives and a new lease of creativity. Given their recent departure from education, graduates can bring up-to-date innovative ideas and an understanding of new trends. This will help to diversify the knowledge available in your organisation and fill the ever-changing needs of your customers.

    As reported by GRB, hiring a diverse workforce has been recognised as beneficial by 72% of private sector companies, who claimed to see a link between workplace diversity and employee performance.

  • Adaptability

    Given the high levels of competition in the current market, students and graduates have had to adapt and persevere to be in the best position for employment. As it will most likely be their first job, graduates are often flexible and enthusiastic the company culture, they are open to more opportunities and want to do the best job possible. In addition to this, few young people have the same responsibilities and commitments outside of work, such as having families, making them more likely to have a flexible schedule.

  • Tech Savvy

    Today’s students and graduates have grown up surrounded by technology. They possess a high level of knowledge and the ability to learn new skills and processes quickly. With Sage reporting that almost a third of technologically-advanced businesses are showing more significant growth than those who are not, it is a skill that you can’t afford to overlook.