SKILLS SHORTAGES and an ageing workforce are putting increased pressure on graduate recruitment, and with demand outstripping supply in many sectors, some organisations are looking offshore to find the volume of quality graduates needed
SKILLS SHORTAGES and an ageing workforce are putting increased pressure on graduate recruitment, and with demand outstripping supply in many sectors, some organisations are looking offshore to find the volume of quality graduates needed.
Companies vying for the cream of the graduate crop are dipping into a limited pool of talent, according to Deborah Coakley, Asia Pacific practice lead for recruitment process outsourcing firm Alexander Mann Solutions.
“In the past, Australia’s geographic isolation and plentiful supply of high-quality graduates from local universities has diminished the need for organisations to look overseas. However, the global skills shortage means Australian organisations must expand their recruitment programs to ensure they remain competitive,” Coakley said.
In a highly competitive market, she said organisations need more than extravagant incentives to secure the top 10 per cent of graduates. For instance, Graduate Careers of Australia research found that 81 per cent of 2005 Australian university graduates gained full-time jobs within four months of completing their studies.
Multi-regional graduate recruitment programs are a growing trend in Europe, with many investment banks opening applications to non-EU students.
A multi-regional graduate recruitment program not only needs to cross time zones, it needs to focus on what Generation Y graduates are looking for, according to Coakley.
“Graduates will apply for three to eight different programs and are more likely to have a positive response to the companies who respond quickly and personalise the experience.
“Generation Y wants to feel like more than a number or email address. Multi-regional programs need to employ online application and assessments, but it is also important to include face-to-face interaction to show graduates they are valued.”
When a graduate meets their potential employer in person, Coakley said they establish a connection with the organisation, and as a result, are more likely to choose that company over a competitor that doesn’t personalise the process.
With a higher proportion of students now studying overseas, multi-regional programs also tap into talent who may be looking to pursue careers in their homelands, once they have completed their studies.
“Graduates are searching far and wide for the right opportunity for them and the internet makes applying to organisations in other countries simple. Businesses need to become more proactive in attracting the top graduates, rather than reacting when graduates come to them,” Coakley said.
“With the talent war heating up, securing the best graduates will only become more critical in maintaining an edge over competitors,” she said.
