Many graduate employers have admitted to offering
too little pay to attract the best
workers
Many companies are blaming the education system for failing to
produce “work-ready” candidates when they can’t find skilled
workers. This means that specialist; senior roles can go unfilled
for months because of the lack of expertise.
Around six in ten employers are admitting that they are turning
away candidates that a suitable for the position because they
cannot afford to hire them, according to a new report from the
Chartered Management Institute (CMI).
The companies surveyed said that the salaries
they offered failed to attract the best staff that they required,
but weren’t willing to increase wages due to the current economic
climate. Pay is the second most frequently cited excuse for
recruitment problems, followed by competition
from other employers, location, company, and benefits package they
offered.
Yet skills shortages still remains the biggest
problem, with 80% of employers saying the failed to fill their
roles with suitable candidates, yet CMI commented that employers
need to try harder to attract the best talent.
Christopher Kinsella, acting chief executive
of the CMI, said: “We understand that many organisations are still
struggling to provide general salary increases due to recessionary
pressures, but we urge employers to look to non-financial methods
of rewarding good employees or risk losing them.”
The CMI study showed one in 10 managers quit their jobs last year –
more than twice as many as the year before – as people felt
increasingly undervalued and overworked in their roles.
Mr Kinsella said: “A company that does not work hard to retain its
employees and invest in its people will find itself in a difficult
situation given we already have a shortage of high quality
managers.
In the year to September 2011 there was an increase of 20.3% in
staff turnover for management roles, including those resigning,
retiring, transferring internally and being made redundant. Half of
the companies surveyed said they were struggling to retain the
right staff.
The onus is on graduates to obtain employment during their studies
to develop the necessary skills that employees are looking for, the
benefit of having experience in your chosen field shows dividends
when applying for a lucrative graduate job. Companies receive over
50 applicants per graduate job, therefore to stand out from the
crowd and showing the relevant skills for that job can put you a
step in front.
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