Last week the Institute of Student Employers published its 2018 recruitment survey. Below is my short cut to the key take outs:
Organisations recruited more apprentices than the previous year and the rate of of apprentice recruitment is growing faster than that of Graduates. Is this down to the apprenticeship levy? Probably although the ISE notes organisations report challenges spending the levy.
Employers are prioritising diversity with two thirds prioritising at least one diversity issue for example gender, ethnicity, disability - positively because it will give them access to the best talent rather than being a tick box exercise. As result 7 out of 10 employers are changing their attraction and selection processes. Whilst there is clearly a commitment - the results don't show significant movement in the number of hires from graduates and apprentices from diverse background.
Over half of respondents are actively trying to reduce the cost of hiring, the average investment in each hire is £2,189 - although this varies considerably by sector. Organisations receive an average 41 applications for each graduate role and 25 applications for each apprentice role.
As a result of the focus on diversity, controlling costs coupled with demanding candidate expectations and a plethora of entry points, many recruiters are looking to change the way they organise their recruitment activities. Will this lead to increase in outsourcing?
Other interesting findings include
Graduate recruitment is on the up - there was a 7% increase in hiring this year compared to the previous year.
London is the epicentre for Graduates - 40% of Graduates start their career in the city.
Since 2008 graduate salaries have not kept pace with inflation. A big fall in salaries after the economic crash means that graduates today are worse off than they were in 2008.
Only 1 in 5 of employers don't set a minimum entry requirement.
With the fast pace of change in the world of work, an audience with high expectations, it feels like employers take a low risk, cautious approach to change. With an increasing skills gap - will the bold and ambitious recruiters gain competitive advantage?
employers are slow to change tried and trusted techniques