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Webinar: How to retain top talent and support graduates during COVID-19

These highlights from our first webinar provide insight into the graduate market, specifically around how students are currently feeling and how you can best support them. Here we share key takeaways from the session, including graduate expectations, what they see as success, plus our top tips for retaining top talent.

We recently surveyed 2,000 graduates¹ on what success looks like to them and what employers can be doing to retain and support young workers.

As a result of COVID-19, we also decided to conduct some further research, where we surveyed over 2,600 current students and graduates² – in partnership with Dig-in – to find out how individuals currently feel about their career prospects.

Now we’ll discuss the key highlights from our webinar…

The power of internships

Our insight revealed that internships play a key role in shaping a graduate’s career path, especially when we consider Gen Z. We found that:

68% of Gen Z note that they wouldn’t have been able to secure their first role without their internship, compared to 48% of Baby Boomers
83% of non-Russell Group graduates (aged under 26) say an internship was vital in securing their graduate role, compared to just 14% of their Russell Group contemporaries

Employers should therefore ensure their internships and work experience opportunities are both accessible to everyone and challenging, to create opportunities for all and to develop crucial skills needed for the workplace.

Lisa Cappuccini, Team Leader at Milkround, comments on why companies can find it hard to stop focusing on Russell Group universities alone, in their attraction activity…

For many employers, I think it’s getting out of that habit of how it has always been done… especially if competitors are continuing to focus on those Russell Group universities.

McKinsey and Company’s Delivering Through Diversity report revealed that those firms that are the most diverse are likely to outperform other companies and generate profits above industry average – showing even more of a reason to attract candidates from all universities, to help increase diversity in your business.
Lisa Cappuccini

Internships in the current climate

Just 8% of students have been able to secure an internship for this summer
25% are still searching for an internship opportunity
37% of students who have secured one for this spring/summer have since had it terminated
For students who have secured an internship, 63% said current circumstances will have impacted their position

What does this mean for employers?

This will have a huge impact on students, and their ability to gain real-life experience. It is going to impact those from non-Russell Group universities even more so, as we know that 83% see internships as vital to securing graduate jobs.

Georgie Kemp – recent graduate and current employee at digital marketing agency, Impression – was keen to capture as many opportunities as possible throughout her time at university. She believes that:

Experience in the sector I wanted to move into – in combination with the soft skills developed throughout university and part-time work – was instrumental in securing my role at Impression. I feel that the opportunity to gain insightful work experience whilst also studying… really complimented my time management, communication and creative thinking.
Georgie Kemp

What does success look like?

Once you have employed graduates full-time, it is important to know what their idea of success looks like, to ensure they stay with your organisation. Here are some of the key findings from our research:

One in three (31%) Gen Z workers believe learning new skills is the biggest sign of progression, compared to just 15% of Baby Boomers who would say the same about their first grad job
Only 15% of Gen Z said an increase in salary is an important measure of success in their first job, making them the least salary-focused generation surveyed
Gen Z employees will leave a company if they feel they can learn new skills elsewhere – this was noted as the top reason for moving on. Other motives include job location, faster career progression, a higher salary and a change in the work environment

Having a clear progression path is absolutely vital for any employee, to really understand how and when they will progress within an organisation.

The ability to continually learn at work and to upskill – both personally and professionally – is absolutely invaluable… and something I would take over a salary increase any day.
Georgie Kemp

Top tips for offering a clear progression path

1. Make sure every employee knows their development options

Allow them to visualise being part of your business long term and make sure there is an obvious route of how they can get there
Regularly check-in to see what their goals and objectives are – as these may change over time
Encourage credible candidates to apply for promotions

2. Let employees have their say and be realistic

Ask individuals what they are looking for and deliver on that promise
Be proactive – regular career planning conversations will ensure employees stay motivated

3. Allow them to develop or learn new skills

Make sure this is both accessible and equal for everyone
Learning new skills can start even before a graduate’s first day, such as through online learning or small tasks
Can you assign them a mentor to provide extra support and assist with their career development?

4. Promote case studies

Showcase employees who have grown within your business – making these possibilities known will allow new employees to better see their future with you
Capax Resource Management use examples of success in their current teams – e.g. how the director worked his way up through the business

5. Consider ‘job-swap’ initiatives

Allow employees to sit in a different department for a set period of time
Graduates will better understand other employees’ roles and responsibilities, which will support their learning and enhance their skills
If you are unable to offer a full ‘job-swap’, you could consider offering a few days of work experience in a different team

COVID-19: The impact

75% of recent graduates and current students feel that the current situation will impact their future career prospects
18% of those graduating this year have been able to secure a grad job – compared to the research we conducted earlier in the year, which showed that 60% of Gen Z secured their graduate role before leaving university
40% have been contacted by their future employer to put them at ease
63% of those who have already secured a graduate job are worried COVID-19 will impact their position.

More information on our recent COVID-19 findings can be found here.

Top tips: Supporting graduates during COVID-19

If you would like to watch a full recording of our webinar please click here.

Opinium surveyed 2,000 UK graduates between 6th-14th February 2020 on behalf of Milkround
Dig-In surveyed 2,648 UK graduates and students between 28th March-3rd April 2020 on behalf of Milkround

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