Retaining graduate employees amidst a talent shortage

With lower graduate rates and more job opportunities for them than ever before, it's crucial to understand what a grad wants from an employer. I’m a grad and I’d like to share my perspective.

Studying a Bachelor of Media and Communications has confirmed the competitiveness of the journalism field that I was always told about. But how is this changing in today’s job climate? Compared to the newsrooms from 20 years ago, technology and COVID-19 have rapidly shifted how journalism is written and produced.

As someone who’s always appreciated the necessity of news and its vital role in society to inform audiences, I’m grateful I’ve started my career in an industry I’m passionate about. Picturing future employers and work environments to take the next step in my career is constructive in clarifying what I want.

How can employers retain graduate employees?

Ideas around the ‘great retention’ and how to retain employees amongst evolving workplace practices is of discussion amongst employers. How do these issues apply when considering recent graduates that you’ve just hired?

According to GradAustralia, the average employer records 57 per cent of graduate employees departing the business at the five-year mark in search of other opportunities. Additionally, 70 per cent of graduates stay employed in their first role by the three-year mark.

A recent survey by the AAGE also highlighted that 56 per cent of workplaces are expecting to hire more graduates in 2023 than in 2022. With fewer students graduating from university (according to prosple), what we might see is a talent shortage alongside a surplus of job opportunities. So, how do you retain the employees you currently have?

1. Sufficient training

Though graduates carry a variety of technical skills, harnessing their eagerness to learn into adequate training significantly benefits both the employer and employee.

In my experience receiving personalised assistance and learning about the specific processes of my workplace, I’ve been able to work efficiently and feel more confident in applying my new skillset.

2. Workplace culture

Fostering a work environment where employees feel motivated to come into work cannot be understated, particularly amid a wave of “life fatigue”.

As an undergraduate, I deeply appreciate a workplace which encourages positive work relationships and where my wellbeing is valued.

3. Job security

Graduate recruits need to feel stable within the organisation and assured that their first full-time role won’t crumble beneath them. With daunting terms such as the ‘great resignation’ circulating alongside prolonged economic uncertainty, it's crucial for graduates to see a future with the business.

4. Opportunities for future growth

Presenting graduate employees with opportunities in the organisation to expand their abilities inspires them to take the next step in their career. Developing great leaders, not managers, through mentoring and leadership programs supports your graduates and minimises the impact of skill shortages.

Jasmine Siljic is a cadet journalist with Momentum Media and media and communications student