More than 100 employers were today encouraged to make the most of the talent and skills graduates can offer their businesses by signing up to a new Government internship matching service
13 May 2009
Universities Secretary John Denham met with major employers at a specially organised conference to discuss the benefits graduate internships can bring to businesses and how they can gain access to intelligent and ambitious individuals this summer through the Graduate Talent Pool.
The Employer Conference, organised by DIUS and the Chartered Institute of Personnel and Development, aimed to outline how the service works to enable companies to access fresh talent while helping more graduates kick-start their careers by gaining the skills and experience they need to get on.
John Denham said:
“Being matched to ambitious and talented graduates who have a wealth of knowledge in their subject areas is a big incentive for businesses of any size.
“That’s why it is great news that already more than 40 employers, including Microsoft, Network Rail and Marks and Spencer, have registered their interest in the Graduate Talent Pool. This resource is up and running and free so I urge those employers who want to benefit from the skills graduates bring to sign-up today.
“Of course, putting employers in touch with graduates is good for business but internships also benefit graduates, giving them transferable work experience and allowing them to try their hand at a potential career path and prove themselves to prospective employers.”
Jackie Orme, Chief Executive at the Chartered Institute of Personnel and Development, said:
“We know times are tough for business, but times are tough for graduates too. Internships are a great way to meet in the middle. Internships help young people gain employability skills like team working and project management that will be invaluable in their future careers. They’re also a great way for employers to get access to enthusiastic graduate talent without having to make the kind of long-term commitment that is difficult in the current climate.
“We welcome this matching service which will help bring employers looking for interns together with graduates looking for work experience. Employers welcome this kind of real help, which recognises the challenges they’re facing right now, while also helping them to plan for their future needs.”
During the current economic downturn the Government is looking to support graduates seeking work. The aim is for the ‘Graduate Talent Pool’ to support 5,000 internships, building on the 2,000 already achieved through HEFCE’s Economic Challenge Investment Fund.
Stephen Uden, Head of Skills & Economic Affairs at Microsoft said:
“Internships are a great way for companies to access graduate talent, and they provide graduates with vital skills and experiences to support their future employment. Microsoft views the Graduate Talent Pool as a way to engage the new graduate talent that is essential for our long-term success.”
The Talent Pool will sit alongside the thousands of other opportunities available to new graduates that will help them improve their chances to get a long term and well paid career. These include:
- Around 14,000 additional postgraduate places - supported by 30,000 extra Career Development Loans next year
- 250 short term placements through Mini Knowledge Transfer partnerships, rising to 500 in 2010/11
- Thousands of existing volunteering options available through “V”, an organisation aimed at young people between 16-25, and other voluntary organisations
- 500 teach first opportunities in 2009, up 130 from 2008
Notes to editors
-
-
The Graduate Talent Pool does not seek to replace existing schemes offered by businesses. We expect the Talent Pool will offer internships in both private and public sectors and that most employers will want to offer a wage which recognises the balance between the benefits a graduate brings and the skills and experiences they require.
-
Last month John Denham announced that graduates already claiming Job Seekers Allowance for six months or more will be able to do an internship for up to 13 weeks alongside claiming Job Seekers Allowance and looking for work. It will mean that unpaid internships will be open to graduates irrespective of whether they themselves or their families can support them.
-
Graduates are less likely to be unemployed than others (3.3 per cent compared to 8.1 per cent) and the Association of Graduate Recruiters has predicted growth in employment in the public sector (3 per cent), FMCG (12.9 per cent) and law firms (2 per cent).
- The Association of Graduate Recruiters suggests that there will be a 5.4 per cent decrease in opportunities for new graduates in 2009 compared to 2008 levels. If job losses increase at the same rate as in 2008 or accelerate twice as fast we might expect between 6,500 and 21,000 more new first degree graduates unable to find work than in 2008.
- Mini-knowledge transfers are 10 to 40 week placements in SMEs for graduates and post-graduates, working on specific projects vital to businesses.
- Professional Career Development Loans (CDL) can help to pay for up to two years of learning or up to three years if the course includes one year's relevant practical work experience. The Government will have increased the number of CDL from 15,000 to 45,000 by 2010/11.
- Post-graduate study offers the opportunity to gain skills and obtain the qualifications needed for specific careers or simply help individuals stand out in the job market. Estimates based on evidence from universities and PGCE trends suggest around 6,000 additional and 8,000 part-time places will be available to graduates in 2009/10.
- V is an organisation that makes it easier for young people aged 16-25 to find volunteering opportunities that will help their local community while giving them much needed experience. For more information visit: www.vinspired.com.
