Graduates offer quick return on investment
Mon, 02 Nov 2009
Businesses that invest in graduates can see a return on investment of over 500 per cent, it has been reported.
According to research conducted by Dr Anthony Hesketh at Lancaster University Management School, university leavers pay for themselves on average 20 months from their start date.
In fact, recruitment schemes can make a £5.30 return on every £1 invested by their third year, the study showed.
Commenting on the findings, Steve Huxham, chairman of the Recruitment Society, said: "There has been a lot of publicity this year about [businesses] either downscaling their graduate recruitment programmes or revising them.
"If you want a graduate, you have to put in a lot of effort, training and development and, in any downturn, companies in any downturn, inevitably, are focussed on the short term result."
He said the study may help buck this trend, as firms will no longer be able to say they cannot quantify the worth of such employees.
Mr Huxham claimed that the financial reward firms get from taking on a graduate is actually achieved far quicker than many realise.
The Centre for Cities recently predicted that graduates will be particularly badly affected by a reduction in public sector job opportunities expected in the coming years.
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