How to hire the most talented graduates

Securing the best talent for your organisation can be challenging in today’s competitive job market. According to the Graduate Outcome Survey – Longitudinal (GOS-L), the immediate employment rate for undergraduates surged from 70.3 per cent in 2020 to 91.7 per cent in 2023. Graduates are in high demand and it’s important for organisations to tap into new talent to bring fresh ideas and innovation to their team.

Here, Sharon Zhang, the Work Integrated Learning Team Leader at Macquarie Business School, provides five practical tips for ensuring your organisation is an attractive option for graduates and highlights the importance of partnering with universities to shape the talent of the future.

My role at Macquarie Business School gives me a unique view into the industry-university connection, and what I’ve seen over the last few years is that new graduate talent can provide an unmatchable benefit to organisations in the form of new theories and ideas to unlock tricky problems. A university partnership also allows employers to nurture graduates and give them the skills required for future roles.

Work Integrated Learning programs are a superb way for employers to embark on what is essentially a ‘try before you hire’ arrangement. For the employer, it means being exposed, in a temporary way, to exceptional talent to see if they fit the organisation. Their generational thinking and knowledge of new and emerging theories can be the difference between success and failure for a project. In return, the student gains work experience while studying and an opportunity to test their newfound knowledge and skills in real-world situations.

Here's how to make this relationship a real success for your organisation:

1. Meaningfully engage with universities

According to the Australian Association of Graduate Employers (AAGE) Candidate Survey, 71 per cent of employers nominate advertisements on university websites, and 62 per cent spoke highly of career fairs as the most effective tool for reaching graduates. These results suggest that if you don’t make an attempt to connect with students through similar channels, you’ll risk not being seen before they settle on their employers of choice.

Nurturing relationships with the relevant faculties is also essential as it helps to access the relevant student cohorts for brand awareness and promotion for recruitment.

At Macquarie Business School, the new Industry Partnership Program is where visionary employers meet with the brightest minds. Recruiters can make a meaningful connection with the school’s engagement team and be guided to the various opportunities available to encourage new talent to engage with their company. This can include hosting an intern, making your brand visible at key employment events, and even contributing to in-class experiences to ensure graduates are equipped with the right skills for future jobs.

2. Offer a career, not just a job

Having closely collaborated with high-achieving students and monitored their post-graduation outcomes, it's evident that today's graduates seek more than just a job; they desire a career path aligned with their aspirations.

It is not enough to sell students on your advertised job. Instead, present graduates with a career path. Where will they be in six months, one year or the next five years? Take the time to consider how the job you offer will provide them with a vision. This way, you will connect meaningfully with graduates who hope to build a long-lasting relationship with your organisation.

3. Use your culture to excite graduates

A staggering 79 per cent of graduates told GradAustralia that “it’s important for them to join an employer that has a diverse workforce”, while only 16 per cent said that, if the salary were right, they’d work for an organisation with a bad image.

A great culture is vital if you are committed to attracting and retaining top graduates. The graduates want to know if your employees feel their work is recognised in a meaningful way. Is there a work-life balance in the role they are interested in? And most importantly, are people happy to come to work?

Bring this culture to the forefront when presenting at university employment days or career fairs – it really does make all the difference.

4. Create a smooth recruitment process

During the graduate recruitment season, students undergo an intensive period of making applications, going through assessment centres, and waiting for multiple outcomes from different organisations. This process creates a significant degree of uncertainty regarding their future careers.

While this is unfortunate for graduates, it creates an opportunity for employers to stand out by engaging students early on, communicating with them openly and offering a streamlined recruitment process.

5. Empower graduate ambassadors

While hosting career fairs and panel discussions, we found that students love to get tips from their near-peers – a recent graduate who has been there and succeeded. Students feel more confident asking questions from recent graduates than speaking with a HR representative from the organisation. Graduate ambassadors can effectively communicate with students as peers. Their firsthand experiences resonate more strongly with fellow students, making them influential in shaping perceptions about the organisation and its career opportunities.

By adopting these tips, organisations can enhance their recruitment efforts, position themselves as employers of choice and retain top talent in today's competitive job market.

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Interested to find out about industry partnership opportunities with Macquarie Business School? Visit mq.edu.au/business/ipp to find out more and connect with the Macquarie Business School engagement team.