Exclusive article for GRB from AGRs Chief Executive
I have just read that the ubiquitous FiloFax is making a comeback against all the odds. Apparently it seems that young executives, women in particular, are favouring the traditional FiloFax style diary to the 21st century electronic versions that you can access via your Blackberry.
This comes as a relief to me as I have never abandoned my hard copy diary and take it everywhere with me. In recent times I have received some funny looks from younger colleagues as I check my movements by referring to it in meetings. Indeed I received a new, larger version as a prized Christmas present only last December!
Now, all I have to do, is wait until herring bone jackets with leather patches at the elbow come back into fashion………
Seriously, there is some truth in the adage that what goes around comes around and we must all be hoping that graduate recruitment comes back into fashion sooner rather than later. The signs are encouraging.
AGR launched its latest Graduate Recruitment Survey findings in February and they showed that following a near 9% fall in the level of graduate vacancies in 2009 the predicted fall for 2010 is a mere 0.6%. It may seem strange to be celebrating yet another fall in vacancy levels but after last year 0.6% is a drop in the ocean and is being interpreted by most pundits as a turning point in the fortunes of the graduate recruitment market.
Closer examination of the figures shows that just over half of all the businesses included in the survey plan to increase their number this year while less than a third will be taking on fewer graduates. The improvements are as a result of increased business optimism. Sectors where that optimism is highest include the Oil industry, consulting and business services, construction and retail. Banking is also bouncing back along with IT.
The report represents good news not just for the Class of 2010 but for all of us as it is another indicator that perhaps the worst of the recession is behind us. There is, of course, the risk of a double-dip recession and it has to be acknowledged that the improvement in market conditions is fragile but compared to this time last year, things certainly feel more positive.
There is a key learning point here for those about to graduate – there are vacancies, in fact the majority of businesses are still recruiting, so it is important that finalists don’t miss the boat by delaying their job search until after graduation. For employers it is still a very good time to take on graduates as there is plenty of choice out there. If previous recessions are anything to go by, the market will flatten out for a couple of years and then take off quite suddenly and that’s when employers can get caught out if they are not careful. Demand increases, choice diminishes, quality then suffers and to make things even more challenging, turnover usually rises as well. That can all add up to skills shortages. Investing in graduates now is a sensible move if businesses can afford it.
