It’s common knowledge that recruitment is one of the first areas to see cutbacks when business isn’t going well. It may seem counterintuitive to recruit new staff when money is tight. However, there are many benefits of recruiting graduates for large enterprises, especially when it comes to the bottom line.

Large enterprise plays a big part in providing opportunities for graduates. In the UK, a large enterprise is a company with a least 250 employees, but often, they have many more than this. At the start of 2021, it was estimated that there were only 7,700 large businesses in the UK compared to over 5.5 million SMEs. That’s only 0.1% of the total business population in the UK.

 

How Employing Graduates Benefits Large Enterprises

Following the recent economic downfall in the aftermath of the Covid-19 pandemic, many large enterprises are hesitant to take on new staff, let alone graduates. However, as a large business, there is no one better to support graduates through this challenging time, while also giving yourself the best chance of dealing with the effects of the economic crisis. Your size and success as a large business give you a unique opportunity to invest in the future potential of graduates, in a time when other businesses might not be able to afford it.

We have compiled some of the key reasons why large enterprises should consider hiring students and graduates.

Graduates are Affordable and Good for Business

The starting salary for a graduate will generally be a lot lower than for someone who has experience in the role. According to High Fliers, the average starting salary for a graduate is £30,000. This means that recruiting graduates can be incredibly cost-effective for your business.

Of course, there will be extra costs associated with support, training, and development, but these will be necessary to maximise ROI over time. Nevertheless, a 2020 ISE Student Development Survey showed that the average graduate employer increases their graduates’ salary by £11,000 in their first three years of employment. This suggests the considerable value that graduates have and why large enterprises should hire graduates.

Resources to Invest in Training

One of the other reasons why large enterprises should employ graduates is training. As a large enterprise, you are more likely to have the resources to hire graduates. These graduates may need further training, but potentially have the right knowledge and attitude you want in your workplace. This means you will have a wider pool of talent compared to a smaller company that perhaps can’t afford to pay for additional training.

There are so many great opportunities for training while working. You could even consider bringing a student on as an apprentice, so they get hands-on experience whilst gaining a formal qualification. Furthermore, there is government financial support available for large enterprises wanting to hire apprentices. Be sure to check out our dedicated page on Funding for Employers.

Ready to Mould

Recruiting graduates provides the employer with a bank canvas who can be trained into the company culture from day one. As they will be coming to you directly from university, they won’t have any old ways or bad habits that need to be unlearned from previous jobs.

Graduates also come to the job with a mind for learning. They will adapt quickly to their new environment and will be eager to prove themselves. This willingness to learn coupled with an ability to more easily absorb new information makes recruiting graduates a smart step forward for large enterprises.

Your Competitors are Offering Enticing Graduate Schemes

Many of the most popular graduate schemes in the UK are provided by the private sector, and large enterprises such as PWC, KPMG, Aldi, Deloitte, and Google. These companies offer competitive salaries and employee perks enabling them to hire some of the best graduates. To survive the current economy, you can’t afford to miss out on some of the brightest minds and business brains in the country.

You Can Offer Career Trajectory and Progression

Given the size of your business, you are in the perfect position to attract students and graduates by demonstrating the possibilities for progression into more senior roles over time. For graduates, it is very appealing to see that their job could evolve in the long term, presenting new challenges and opportunities. Furthermore, graduate retention rates are generally high and on the increase again. In 2022, 72% of graduates remain in the same role after three years, up from 71% in 2021.

Graduates Have a Great Attitude

Graduates are well known for their eagerness to work and learn. Because of their degree, they have up-to-date knowledge on a specialist subject and can bring fresh ideas that more experienced colleagues might not have thought of. Hiring graduates is a great way to bring a new lease of life to your company, especially large businesses that may be in need of a fresh and modern perspective.

Graduates are Easy to Recruit

Nowadays, it’s never been easier to access the pool of talented graduates out there. This makes the recruitment process cheaper and faster. As a large enterprise, you can tap into this pool by attending careers fairs, creating partnerships with educational institutions, and making use of trusted job boards for graduates. By simplifying the recruitment process, your business can save time and valuable resources.

 

Final Thoughts: Employing Graduates in Large Enterprise

Developing a Student has lots of useful resources to help your business attract graduates.

Want to find out more about the advantages of employing graduates for large enterprises? Our website has a host of resources on the benefits of recruiting graduates and tips for attracting graduates. Attract the UK’s best talent by advertising student and graduate jobs on Developing a Student’s job boardBe sure to also check out our services page for information on advertising, creating a company profile, and more.

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