The Grad Marketplace – Competition for Graduate Jobs Reach a Record High.
Introduction
The job market is an extremely competitive place for young people, especially in recent years. The average employer is currently receiving 91 applications for every graduate role they advertise – the highest number since ISE began collecting this data in 1999.
After the challenges of the pandemic, the 2020/21 recruitment season has seen a substantial bounce-back across all types of hires. Employers are currently predicting that this growth will continue into the 2021/22 season. As well as this, recruitment is also taking a virtual approach. Zoom interviews were initially conducted due to necessity, but there were many benefits to completing recruitment online.
There has also been a rise in the recruitment of a diverse workforce. As well as race, employers focus on hiring a diverse workforce through many different strands – Notably, socio-economic background, disability, and gender. Most employers have formal targets surrounding diversity and have developed their recruitment processes to make them more inclusive.
The Value-Based Job Seeker
Job seekers are moving towards a value-based way of thinking. When job seekers are searching for their future careers, there are three key factors that they tend to look for.
- Work/life balance.
- Learning and growth opportunities.
- Team culture and business values.
When a graduate enters a new role, they want to make sure that their values match those of their employers. In a recent campaign survey, more than 70% of entry-level jobseekers valued a diverse workforce over a competitive salary, and 98% of employees wouldn’t work somewhere that does not fit their values.
Why Hire Based on Your Values?
- You don’t want to hire to fail – if someone does not fit your culture, it is better to screen them out.
- No ‘brilliant jerks’ – someone who does not embody your values can tear an organisation apart from the inside.
- Positive work environment – 95% of executives believe that poor hiring decisions impact the morale of the team.
Understanding the Future – Graduate Talent Pool
Every candidate is different. They all hold different experiences, behaviours, ambitions, and values that are unique to them. Yet, all too often, graduate marketing methods tend to treat students as one homogenous group. It is important to ensure our messaging and media fits around the multifaceted nature of graduates.
We set out to identify exactly who the students of today are, allowing graduate recruitment teams to future-proof their talent pipeline and define recruitment strategies that truly engage with Gen Z, mirroring your business culture in the process.
This technique will allow you to:
- Future proof your talent pool
- Position your employer brand
- Increase applications and accepts
UNICOM – Researching the Students of Today
Our partner agency, Unicom, wanted to find out more about the students of today, so they conducted some research themselves, bringing together a team of 15 experienced researchers. Here is a quick round-up of the data collected:
- 1053 students surveyed
- 260k data points analysed
- 20+ hours of 1-2-1 student interviews
With this data on-hand, Unicom was able to identify five different student personas.
The Student Persona’s
1. Studious Sophie – 34% of all students.
Studious Sophie is an over-achiever who tends to exceed in most things she tries as she thoroughly enjoys learning. Sophie decides on her university institution before her peers. She tends to revise around six to seven hours per week to ensure that she gets the necessary grades. Sophie takes an active interest in politics and likely comes from a high-income household, although is a saver herself.
Reach Sophie early – create a two-year strategic user journey to target high-quality applicants like Sophie as they start their future role decision-making journey early.
Make the process clear and timely – an organised forward-thinker, Sophie will benefit from having a checklist of actions she needs to take for the application process.
Detail is important – ensure you provide detail at every touchpoint, from application to onboarding.
Messaging:
- Highlight rankings, reputation, and excellence.
- Take a personalised approach – Sophie’s modesty means she is more likely to engage in a 1-2-1 conversation than post in an open forum.
- Raise the bar – showcase the quality and outcomes of your graduate scheme.
Digital Media:
- PR and news stories are key – Sophie is an avid online news consumer and will be proud to hear the ground-breaking work her future employer is doing.
- Instagram, Snapchat, and YouTube are important social media channels – she may not post much, but she’s an active consumer.
TOP TIP – Snapchat
Snapchat offers a conversational, non-intrusive way of getting noticed. On average, 249 million people use Snapchat every day, with the platform reaching 75% of millennials and Gen Z.
2. All Rounder Amy – 20% of all students.
An allrounder, Amy enjoys the academic side of university but is keen to have the full university experience. Because of this, she is more open to where and what she will study. Amy is conscious of the wider world, big on sustainability, and engages with everyone around her including academic staff, who Amy is likely to seek help from.
Showcase the role as an experience – Amy is looking for social, personal, and skills development alongside career growth.
Put values at the heart of everything you do – provide Amy with values she can align herself and her ambitions with.
Create an omnichannel graduate experience – Amy is likely to make her career decision via many different sources, so ensure they are connected and consistent.
Messaging:
- Extra-curricular activities are extra important – talk about any opportunities to work abroad or any culture/work initiatives to get Amy excited.
- Think and talk big – Amy is an idealist who wants to change the world. Show her how your company will help her in this mission.
- Have a voice – Amy considers herself an activist and will expect her future workplace to have an opinion on current affairs.
Digital Media:
- Make use of sustainable search – target Amy on the environmentally friendly search engine, Ecosia, to demonstrate your sustainability values.
- Vertical video is valuable – a social butterfly, showcase your company and colleagues with video to make Amy feel part of the institution.
- Use Facebook Groups – groups allow Amy to engage with fellow graduate scheme colleagues ahead of the scheme start date.
TOP TIP – Ecosia
Ecosia accounts for 16% of all new website sessions within the higher education sector in 2021.
3. Pragmatic Pam – 13% of all students.
Pam has a clear career path and attends university as part of this plan. Pam is decisive on both what she will study, and where she will study it. This persona is most likely to come from lower affluence households and live at home whilst studying. She is less interested in sports and social life, instead valuing the teaching and learning facilities on offer at university. She will often come to you if you suit her goals.
Provide the practicalities – Pam has a clear idea of what she wants to do post-study and is most interested in practical information on package, development, and process.
Pam is most likely to stay local – identify students like Pam with localised key feeder university targeting.
Keep it real – Pam is most likely to engage with institutions she feels keep it real, practical, and grounded.
Messaging:
- Financials first – financial security is important to Pam, so showcase what package is on offer and any development opportunities.
- Course and career-centric – Pam went to university with a clear plan of action for her career. She is likely to have work experience within her chosen field.
- Pam was already looking at industry links at university – she’s the most likely to contact graduate recruiters asking for information.
Digital Media:
- Go local – Pam is most likely to work close to home, so target her at selected local universities.
- Use technology to give Pam answers quickly – with an impatient personality, Pam will benefit from chatbots to get answers to her questions. WhatsApp is a key channel for Pam.
TOP TIP – Create WhatsApp Marketing Lists
Utilise WhatsApp to keep in touch with top candidate talent pools.
4. Reluctant Ryan – 18% of all students.
Ryan feels under pressure to attend university, but he isn’t sure what he would like to do with his future. His university decision making is influenced heavily by family and friends, and he’s likely to make a last-minute decision through Clearing. Ryan is a social butterfly with an active social media presence and is more likely to prioritise having fun at university over studying. He’s likely to look at graduate schemes late and often needs encouragement to do so. Despite this, he’s very social and great with people. He adds value to graduate schemes in a different and rewarding way.
Be ahead of the curve – Ryan loves nothing more than new technology and new social media. Impress him by being the first to market on new, up-and-coming channels.
High energy and high impact – Ryan is the most likely to be engaged with companies that show off the buzz of the organisation via video.
Keep advertising to the last minute – Ryan is most likely to apply to a graduate scheme later and decide through a gut feeling. It will be important to target students like Ryan until the very last minute.
Messaging:
- People first – with a keen interest in having fun, showcase to Ryan the people, friendships, and experiences that can be made at your organisation.
- Spotlight your city – Ryan is looking for a full experience and will respond well to organisations that showcase city lifestyles.
- Feelings over facts – audiences like Ryan are less likely to be influenced by rankings. Instead, use emotion-led messaging that allows him to get a feel for your institution.
Digital Media:
- Spotlight on socials – students like Ryan spend the most time on social media and use a wide variety of apps. Ensure you are visible on popular channels like TikTok, YouTube, and Instagram to engage with Ryan.
- Gaming – a bit part of Ryan’s life. Become visible on channels such as Twitch, Discord, and Audio Gaming.
TOP TIP – YouTube
- 50 million minutes of gaming content were watched on YouTube in the last 12 months.
5. Easy Going Eric – 15% of all students.
Eric is pursuing higher education as he’s not sure what his other options are. He’s less interested in university rankings and instead is excited by sports and nightlife facilities. Eric is keen to move away from home but doesn’t want to travel too far. For him, what is most important is that he can go to an institution where he can express his personality and individuality.
Show your organisations personality and culture – Eric is interested in companies that have likeability and trustworthiness, so show this by emphasising personality.
Use forward-thinking technologies to show off your company – Eric’s creative side will get excited by organisations that are creative with their technology and marketing.
Bring your whole experience to life – Eric plans on thriving in extra-curricular activities within the working environment.
Messaging:
- Put individuality and originality at the heart of your messaging – students like Eric are looking for an institution where they can thrive whilst truly being themselves.
- Go extra on the extra-curricular – Eric wants to excel through personal growth and new relationships as well as just through his career.
- Showcase influential staff – Eric is a people person and thrives when he can build relationships and learn from high accolade colleagues.
Digital Media:
- Listening to music is an important pastime for Eric. Reach and engage him on streaming platforms like Spotify and YouTube to generate maximum exposure for your graduate scheme.
- Use new marketing technology to inspire Eric. He will likely be impressed by universities using new media technologies like interactivity and chatbots.
TOP TIP – Spotify
75% of students agree that music is an important part of their life. 18–24-year-olds spend, on average, 139 minutes per day on Spotify.
Targeting via Personalised Strategies Will Allow You To…
- Drive brand activation across your value-led personas within key locations
- Make maximum impact across relevant digital media
- Drive graduate recruitment that matches your cultural values.
Interested in working with us? Get in touch today for a free, no-strings-attached chat.