The advantages of Graduates Programmes
Manuelle Malot, EDHEC NewGen Talent Centre Director at EDHEC Business School, discusses the advantages of Graduates Programmes in an article originally published on The Conversation,
30% of graduate programs include an international mission.
Over the past twenty years, the job market for young graduates has become global, and the sourcing of candidates more international. In the face of fierce competition, companies need to attract and retain the best young graduates to build up their pool of future executives. With this in mind, they have developed specific programs for accelerated integration: "Graduate Programmes".
The EDHEC NewGen Talent Centre, EDHEC's center of expertise on the aspirations, behaviours and skills of new generations of graduates, keeps a close eye on these programs. This has led to the publication of a study on the characteristics of the 1,260 programs offered by over 600 companies, accompanied by an evaluation survey of 700 graduates, including 250 French and international participants in a graduate program.
Offer diversity
Today's highly diverse offering reflects the maturity of these programs, which companies have appropriated and adapted to their needs. Today, graduate programs can be found in all sectors, and while financial institutions are still the most numerous to offer these courses (21% of companies), industry (18%), consumer goods (12%), healthcare and services (11%) are increasingly represented.
Furthermore, far from the stereotype that these programs are reserved for management or finance functions, engineering, IT and logistics are also among the most sought-after functions, accounting for 29% of program offers. Specialized programs are also on the rise, and now account for two-thirds of all programs.
While the most elaborate graduate programs include international rotations, coaching, mentoring and permanent high-level training, others are simply first positions for young graduates.
Of the 1,260 programs in our database, 84% offer at least one rotation over two positions, 88% offer professional development and 30% an international assignment, i.e. experience in at least two countries. 75% offer both rotation and career development. 27% offer all 3 features: rotation, international and development.
There are also fewer programs offering an international assignment, which is costly and difficult to organize, and of slightly less interest to the new generation of graduates over the past 3 years.
Program flexibility
As there is no regulatory framework for these programs, companies have considerable latitude in the way they implement their programs. For example, some programs start with an end-of-study internship, others include a period of international volunteer work (VIE), offer a standard employment contract (CDD or CDI), or even intrapreneurship.
Some companies even include a few months' immersion in a start-up to satisfy young entrepreneurial enthusiasts, to whom they offer to transpose the best practices of these "liberated" companies. In this way, they build programs that are better adapted, smarter and perhaps less costly.
Until a few years ago, graduate programs remained confidential. Some companies didn't dare communicate clearly about their programs, for fear of swamping their more traditional recruitment channels or appearing overly selective.
Today, they communicate in a way that is both more transparent and more modest than a few years ago. This maturity can also be seen in the behavior and appreciation of young graduates of these career paths. They are more aware of what they can expect from a graduate program, what investment they will need to make, and how they can be pro-active to make the most of it.
A wealth of experience
The young recruits we interviewed were unanimous: a graduate program is not only a first job, but also an opportunity to launch your career by developing your skills and testing out a number of different positions in order to discern and choose your path. More than two-thirds have benefited from more than two rotations, i.e. 3 positions, and 20% have been able to test up to 5 different positions.
The main reasons that motivate young people for this type of program are their desire to learn, the diversity of the assignments, the international dimension and the support for their development.
Young recruits particularly appreciate the fact that these programs rapidly give them a general understanding of how the company works, accelerate their development and enable them to build up a professional network.
Finally, at a time when companies are concerned about retaining the talent they have recruited and invested in, our study shows that graduate programs win the loyalty of 84% of young recruits, 81% of whom stay with the company for at least two years.
But while young recruits are delighted with the graduate program, with a 99% recommendation rate, they are not naive. Companies that offer graduate programs without the benefits of these programs - in other words, mere "counterfeits" - are now being identified more quickly by increasingly well-informed young graduates.
This article is co-published with The Conversation France under Creative Commons license. Read the original article.
