As Industrial Placement schemes gain more popularity, we thought it would be interesting to review their impact on graduate retention rates – particularly since most firms offer industrial placement students the promise of a graduate role upon completion of their degree.

With 2016 set out to be a year of economic growth due to increased business investment, increasing employee turnover as the Baby Boomer generation begin to seek retirement, it is expected that the student and graduate market will face a growth in demand.

Industrial placements or internships could present an opportunity for employers to reach out to and retain superb talent for their organisation – long before students have even begun their final year of university. Those organisations who do this well, could gain a recruiting advantage over their competitors in the industry.

For some time, it has been assumed industrial placement students are highly likely to accept graduate roles at the company they have worked in for a year – but studies conducted by Milkround are suggesting otherwise.

Engineering and Industrial Services graduates are the most likely to decline a graduate role at the same company – with only a mere 29% accepting the offer. But this is not the only industry to struggle with retaining talent: 73% of business students declined their graduate offers without securing employment elsewhere.

So why are companies struggling? A small proportion of students advised the roles they were placed in did not reflect their strengths, with others highlighting the relatively lower starting salary at the company.

However, a common trend was that students were often approached by other companies and had received better offers – their industrial placement had provided them with a fantastic springboard to move onto better opportunities to further harness their skills and craft their development.

As the graduate market grows more attractive to firms as a source of future talent, it is important to gain a recruiting advantage by creating an industrial placement scheme which is cultivated to the developmental needs of the student. Alternatively, you could use alternative forms of attraction to reach out to and hire top talent earlier – providing you with a recruiting advantage in the changing market.

Recruitment interviews are still considered to be fundamental to effective recruitment, particularly when it comes to making the final decision. But are your interviewers getting the recruitment interview right?

Over the years, as recruitment has evolved, so have the number of tools used to help assess candidates. These include personality tests, cognitive tests, gamification and video interviewing – to name but a few. Although these all provide great insight, recruitment interviews are still considered to be fundamental to effective recruitment, particularly when it comes to making the final decision.

Hiring the wrong person for a team is painful, and equally damaging is missing opportunities to hire good candidates, especially if they end up being hired by a competitor. Although interviewers do not plan to make poor decisions, there is substantial evidence to show mistakes are often made.

How can your organisation make sure the recruitment interviews conducted are most effective for your business? And how does this affect your organisation’s ability to make critical hiring decisions?

We take a look at how to measure and minimise the risk of errors made during the hiring process decisions and how to improve success rates.

Recruitment interviews for recruitment campaign

Do your interviewers get it right?

Effective recruitment decisions are liable to be determined by the interviewer’s ability to:

      • Correctly identify candidates who will become high performers in the company. Define successful indicators which are predictors of success in existing employees.
  • Clearly articulate the roles and tasks the candidate will be held responsible for along with measures of success.This demonstrates to candidates that the hiring manager has a firm understanding of the role they will play. It should give them confidence that the role is as it was described during the earlier stages of the recruitment process.
  • Reduce any level of positive or negative bias when assessing candidates. It is essential for interviewers to remain focused on hiring the right fit for the company. No room for positive or negative discrimination based upon personal prejudice. Use a  solid set of positive and negative indicators, backed up with a wash-up session focused on scoring. Using ‘gut decisions’ is not a path to long-term success.
  • Deliver an excellent experience for the candidate, whether or not they are hired. Create a positive brand image and leave a lasting, optimistic impression.Candidates will reflect on how they were treated during the recruitment process and this will play a part in the candidate’s decision making process, should you offer them a role.

When conducted well, recruitment interviews add enormous value to the recruitment process. It is important to review and refine the effectiveness of interviews to maintain the calibre of your workforce. Effective recruitment interviews drive positive business outcomes including reductions in in employee turnover and can affect the overall performance of the organisation.