As 2024 draws near (or it may even be here as you’re reading this), do you think your business could benefit from some fresh thinking? How about some new energy and enthusiasm?

Welcoming the next generation of fresh graduates to your business this year could give you the boost you’ve been looking for.

When we think about recruitment, we usually conjure up a long list of skills and experience that we’d like our candidates to have. We spend time searching for the best talent, without considering that we could develop our own. If we’re always looking for experience, we might overlook ambitious young talent looking for their first job.

Each year, a new group of university and college graduates are hot out of education and ready for employment. Bright-eyed and bushy-tailed, they’re ready to jump in the deep end and prepared to do whatever it takes to succeed at their first role. What they lack in hands-on experience, they make up for in an eagerness to learn, and earn.

If you welcome them to your team, you’re capturing them in a complete ‘sponge’ state-of-mind. They can hit the ground running and develop skills and attitudes that are fully aligned with your business objectives.

While a graduate scheme shouldn’t replace your retention strategies – it’s still more cost-effective to keep staff than to seek new ones. Our recent State of Recruitment data found that it costs SMEs an average of £3,089 to advertise a role in the UK. We found that 23% of hiring leaders pay between £1-99, while another 31% pay between £100-499. Whatever you’re paying to find experienced talent, you can be sure it’s going to be cheaper to find graduates.

Don’t be intimidated by the administration of a graduate scheme. Yes, it does take time and effort to set up a programme, but you don’t need to be Microsoft or Netflix to get one off the ground, or to attract star graduates.

As always, we’re here to help. This guide has all of the information that you need to set up your graduate programme for maximum success. From understanding recruitment marketing, to selling the benefits to your wider team, to attracting the best and setting the foundations for success; we’re going to break it down into easy, actionable steps.

What’s included in this graduate scheme guide?

This whitepaper has all the information that you need to know to develop your own graduate training programme from scratch.

It covers:

• Recruitment in 2023
• Graduate programmes 101
• Attracting graduates
• Graduate programme interview template
• Nurturing your graduates
• Graduate programme 1:1 template

Disclaimer: The information in this post is current as at November 2023, and has been prepared by Employment Hero Pty Ltd (ABN 11 160 047 709) and its related bodies corporate (Employment Hero). The views expressed in this post are general information only, are provided in good faith to assist employers and their employees, and should not be relied on as professional advice. The information is based on data supplied by third parties. While such data is believed to be accurate, it has not been independently verified and no warranties are given that it is complete, accurate, up to date or fit for the purpose for which it is required. Employment Hero does not accept responsibility for any inaccuracy in such data and is not liable for any loss or damage arising either directly or indirectly as a result of reliance on, use of or inability to use any information provided in this article. You should undertake your own research and ‌seek professional advice before making any decisions or relying on the information in this post.

What is a graduate programme in a company?

A graduate programme is an opportunity for recent college graduates to work in a company for a set period of time, usually one to two years.

Graduate roles are offered alongside training and professional development opportunities by graduate employers, as well as allowing graduates to network with other professionals.

Many graduate programmes offer career progression to graduates, and they may be placed in a full-time position within the company or given the option to pursue further education.

Graduate programmes are becoming increasingly popular among large companies as they provide a way to identify and nourish future leaders of the organisation.

Why should you create a graduate development programme?

While graduate programmes shouldn’t replace any employee retention strategies, it’s a high-impact addition to any recruitment drive. You can also feel fulfilled, knowing you’re supporting the next generation of talent.

If you welcome them to your team, you’re capturing them in a complete ‘sponge’ state of mind. They can hit the ground running and develop skills and attitudes that are fully aligned with your business objectives and company culture.

What does a graduate programme look like?

Graduate schemes should provide structured training and have a clear plan from the outset. But, it can be flexible to accommodate the changing needs of your business.

Here is a graduate programme example we have included in this guide:

Stage one: recruitment

The recruitment drive for candidates begins. Graduates are asked to apply and then moved through the interview process.

Successful graduate candidates are given the necessary tools and information to prepare for their entry into the company.

Read more: Using employer branding to attract talent

Stage two: learning and shadowing

Your graduate programme participants will need a lot more training than your regular new employee in the early stages.

The first couple of months should be all about showing them the ropes.

The more training you give them, the stronger foundations you set for their work with you.

For this reason, we recommend pairing them up with a more senior member of staff for them to shadow, on a rotating basis, for up to eight weeks.

One-on-one mentoring is particularly effective as they can learn key skills directly from their manager.

If this doesn’t make sense for your working model, have them instead, be a fly on the wall at all meetings and set them up with reading material or very basic tasks.

Stage three: basic work

At this point, your programme participants should have a basic understanding of how your business operates. They will also know who’s who around the company.

It’s the perfect time to set them up with some basic tasks under the mentorship of a more senior staff member.

Stage four: independent work

This is when you will see your programme participant take ownership over their work. They might be briefed on their own projects and assigned goals related to business objectives.

They are now a proper entry-level employee at your business.

Stage five: progression

Our graduate is now working as a fully-fledged team member; their initial training and development is complete.

It’s time to think about their next steps with the business. Move them beyond the graduate programme and sign them up for a permanent position.

Can smaller businesses offer graduate schemes?

Don’t be intimidated by the administration of a graduate programme.

Yes, it does take time and effort to set one up, but you don’t need to be Microsoft or Netflix to get one off the ground or to attract star graduates.

Pro tip: Use your resources efficiently by using recruitment software, as it can help streamline the hiring process and reduce recruiting costs.

SMEs can establish effective and high-yield programmes too; you just need the know-how.

Download our graduate programme guide now to learn more.