Making sure your graduate job offers are accepted: factors to consider

Transcription

1 Making sure your graduate job offers are accepted: factors to consider Samuel Gordon Research Analyst, ISE Charlie Ball Head of HE Intelligence, Prospects

2 Why this matters 1 16 JANUARY 2018 ISE SHOWCASE

3 Employers are making offers right now When employers start recruitment campaigns for graduates 66% 5% 2% 21% 6% When employers make the most offers 19% 44% 16% 13% 9% Oct-Dec Jan-Mar Apr-Jun July-Sept Rolling The average rate of reneged offers, split by when firms make the most offers Overall Oct-Dec Jan-Mar Apr-Jun 5.4% 7.0% 6.6% 4.3%

4 2018 brings increasing competition Overall growth in graduate jobs Public Digital Energy, water or utilities Law Engineering or industrial Built Environment Banking or financial services Accountancy or professional services Retail -16% 11% 22% 18% 13% 13% 9% 9% 7% 5% 3% FMCG Predicted growth in graduate vacancies. Source: ISE Pulse Survey.

5 One in eight offers are turned down Overall 8% 4% Digital 13% 6% Built Environment 8% 8% Accountancy or professional services 5% 10% Engineering or industrial 11% 3% Law Energy, water or utilities 10% 8% 2% 4% Declines Reneges Banking or financial services 7% 4% Retail 3% 1% End-of-season renege and decline rates. Source: ISE Student Recruitment Pulse Survey. 92 employers.

6 Many employers have vacancies unfilled Overall Accountancy or professional services Digital Energy, water or utilties Engineering or industrial Built Environment Public sector FMCG Retail Banking or financial services 38% 88% 60% 60% 44% 33% 33% 20% 20% 10% Source: ISE Student Recruitment Pulse Survey 2018.

7 Actions you can take 2 16 JANUARY 2018 ISE SHOWCASE

8 There are many ways to act Overall - took specific actions in 2017 Provided "keep warm" activity Targeted attraction & marketing activity Shortened selection process Increase candidate time with staff Over-offered Created incentives for interns to return e.g. bonuses 73% 59% 34% 27% 22% 15% 3% Actions taken to reduce reneges/declines/unfilled vacancies; Source: ISE Student Recruitment Pulse Survey 2018.

9 Benchmark your salaries

10 Consider other forms of support Relocation support 27% do for graduates 4% do for apprentices Joining bonus 26% 2% Paid accommodation 5% 5%

11 Think about where you look and why Geographical location e.g. close to offices Historical links Performance of previous graduate recruits Diversity of student population Performance of previous intern recruits Degree subject ranking in league table Part of Russell Group University ranking in league table 66% 63% 61% 40% 35% 28% 24% 23% Factors employers use when choosing universities

12 Focus on candidate experience CV/application screening 93% Psychometric tests 82% Phone interviews 54% Video interviews 53% Final face-to-face interviews 84% Assessment centres 95% Share of employers using different selection instruments

13 Don t forget to ask for feedback From successful candidates 25% 17% 43% 15% From unsuccessful candidates 13% 20% 35% 32% From assessors 28% 20% 35% 16% Yes - both during and after process Yes - during process Yes - after process No

14 A final note on why graduates leave 24% 19% 14% career change dissatisfied with pay Source: AGR Development Survey Of the graduates who leave in their first three years, the share who leave for each reason. dissatisfied with progression

15 How can you get graduates to accept your job offers? Dr Charlie Ball Head of HE Intelligence Graduate Prospects

16 How can you get graduates to accept your job offers? Dr Charlie Ball Head of HE Intelligence Graduate Prospects

17 How do I get my job offer accepted? The graduate labour market is very different to the situation 5 years ago Outcomes are good, lower unemployment, more PG options Good graduates have many more options than they did in the past Consequently there are graduate skills shortages in many parts of the economy

18 Let s remind ourselves Data comes from ISE Annual Survey 2017, September 2017

19 There are a lot of myths around about university and the graduate jobs market

20 Everyone has a degree nowadays

21 Everyone has a degree nowadays 38% of the adult population (16-64) of the UK had a degree at the end of % of the UK workforce has a degree or equivalent qualification. Less than half of students currently aged will ever go to university, and it s unlikely we ll ever see a situation where half even of a given age group goes to university. We have fewer 18 years olds year on year at the moment, so applicant and graduate numbers are expected to fall until the middle of the 2020s absent any policy changes

22 All the jobs are in London

23 All the graduate jobs are in London 15.2% of the UK population lives in London 21.6% of 2016 graduates started their career in London. Many of those jobs were confined to a relatively small area of London. Average weekly earnings in London are 697, compared to 525 nationally Most people and graduates never work in London However the graduate population is getting increasingly urban

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25 What do graduates do? 316,690 first degrees awarded to UK domiciled graduates last year. Slight rise of 4,360 on 2015 due to rebound after introduction of higher fees The majority were working after six months 74% Unemployment was at 5.3% - lowest rate since 1988/89. Sharp increase in graduates going into Masters study 6,750 more graduates going into study

26 Most common professional level occupations for graduates Nurses Medical practitioners 5690 Primary and nursery education teaching professionals 5605 Marketing associate professionals 5455 General business and related associate professionals 3410 Programmers and software development professionals 3310 Finance and investment analysts and advisers 2755 Human resources and industrial relations officers 2680 Chartered and certified accountants 2410 Pharmacists 2200 General welfare and housing associate professionals 2075

27 Most common industries for professional level occupations for graduates Hospitals Primary education 5295 Accounting, audit, tax 3635 Tertiary education 3575 Government 3380 Computer programming activities 2685 Secondary education 2655 Other human health activities 2620 Social and welfare 2440 Advertising agencies 2375 Law 2130 Engineering activities and related technical consultancy 2070

28 How did 2016 graduates find the jobs they were doing after six months? Your university/college (e.g. Careers Service, lecturer, website), 11.2% Media (e.g. Already worked there (including on an internship/placement), 14.7% Speculative application, 2.4% Other, 9.7% newspaper/magazine advertisement), 2.7% Social media/professional networking sites, 3.5% Employer's website, 18.3% Personal contacts, including family and friends, 17.7% Recruitment agency/website, 19.7%

29 What methods are businesses using to recruit?

30 Migration

31 Where did 2016 graduates work? Westminster 5475 Birmingham 4080 Manchester 3790 City of London 3545 Leeds 3445 Glasgow 3400 Kent 3110 Hertfordshire 3040 Surrey 3000 Camden 2995 Hampshire 2675 Edinburgh 2595 Lancashire 2530 Essex 2430 Belfast 2315 Tower Hamlets 2270 Bristol 2140 Southwark 2090 Liverpool 2065 Cardiff 2045 Oxfordshire 2035

32 Graduate migration patterns Loyals domiciled and studied in same region and now work there as well. 45% of 2015/16 graduates (same as last year) Stayers moved to another region to study and stayed there to work. 13% of 2015/16 graduates, up from 12% last year Returners moved to another region to study and then returned home to work. 24% of 2015/16 graduates, same as last year Incomers work in a region they were neither domiciled nor studied in. 18% of 2015/16 graduates, down from 19% last year. 42% of all Incomers work in London (this proportion is also falling)

33 Graduate migration - 58% of graduates went to work in the region they studied in - 69% went to work in the region they were originally domiciled in - Only 18% of graduates went to work somewhere they were not already connected to In short, graduates are much less mobile than commonly assumed.

34 Labour market data

35 2018 labour market Major themes - National and international volatility - Brexit negotiations and possible staffing changes - A growing skilled economy and increased headcount - Skills shortage and recruitment difficulty - Impact of apprenticeships and industrial strategy

36 2018 labour market Employment intentions pointed towards modest headcount growth, reflecting higher activity in manufacturing (including exports) and business services... Recruitment difficulties had continued to intensify becoming more broadly based across sectors and skill levels. And less skilled posts were generally easier to fill than skilled ones Bank of England Agent s Summary of Business Conditions Q th December 2017

37 How do I get my job offer accepted? 1. Be realistic about the pool available 2. Understand what local pay rates really are (this can be tricky). 3. Graduates are becoming more concentrated in the major cities and they are becoming less mobile. 4. It s not 2013 any more. Graduates have options, and they are not afraid to use them to get the best deal for them.

38 Dr Charlie Ball Head of HE Intelligence highpeakdata.wordpress.com hecsu.blogspot.com