Emerging Talent – Gold Nuggets

Emerging Talent – Gold Nuggets in Australia’s Talent Short Market

Not long ago, finding rare wines or unique wine styles that exhibit their own terroir was difficult and required perseverance, “hit and miss” and traveling to remote wine regions in the world.  Now, seemingly, there are limitless wine reviewers, reviews and easy selection from the internet using reputable suppliers making the process easy, quick and reliable.  Of course, no amount of reporting from Wine Spectator, Robert Parker or James Halliday will ever replace the feeling of being in a vineyard in a remote part of the world talking with the winemaker.

In a similar vein it used to be just the purvey of the larger corporations to hire graduates, use well-developed onboarding and talent development resources and processes to get the new recruits ready and skilled up.  After a suitable period, the graduates, then in their late twenty’s or early thirty’s, SMEs felt comfortable to move in and recruit the more experienced, young professionals for their businesses. 

The Graduates Outcomes Survey published in January 2018 reports that 120,000 Graduates completed a survey about their employment status after graduating.  This is a sample set from an estimated 320,000 domestic graduates collectively from 39 Universities in Australia each year.  From the report employment prospects look good for graduates.  Whereas the total unemployment rate in Australia is currently 5.5%; the reported rate for graduates is 3%.  However, a closer look at the numbers reveals that many of those from last year’s alumni alone claim they are in part-time work and underemployed.

A recent Feb 2018 report from Graduatecareers.com.au reports that more than 28% of last year’s alumni of  graduates cannot  get a full-time job within 12 months after graduation.  That’s an estimated 90,000 young people who have about 15 to 16 successfully completed years of education. 

Gold nuggets which can reinvigorate your business growth and strategy.

Select based on culture match and work ethic

Many clients I support with their business growth plans are amazed how easy it is to put in place systems and processes which allow them to hire graduates and fast track their development to a productive level.  Here are eleven easy steps:

  1. Appoint an internal talent acquisition professional who supports the hiring managers through a professional process.
  2. Craft up a suitable job description which can be used to attract and define the role.  Be clear on the objective gates to promotion and advancement.
  3. Revisit your businesses Mission, Vision and Values – this is the journey and culture you want the new hire to join.
  4. Clarify the unique selling points which make your business exciting to join.  Young graduates will want a context (Mission and Vision), a Culture (Values), Professional development and career progression.
  5. Purchase and populate a learning management system (LMS) – there are many to choose from and very low cost.  Ensure there is a curriculum covering the various stages needed over the development of your young recruits.  Involve the hiring managers because they will need a reliable and repeatable process.
  6. Advertise online using one of the main job boards – first impressions are critical – take care with key words and attractants – remember most ads are read on a mobile device.
  7. Respond quickly to the applicants – keep accurate and detailed records.
  8. Interview quickly and involve the hiring managers early.
  9. Select based on culture match and work ethic – consider the context of any work experience.
  10. Make an offer quickly - < 1 week after first contact
  11. Onboard and support the new hire and the hiring manager.

SMEs cannot grow without attracting great talent.  In a talent short market add graduates to your new hiring options and these gold nuggets of emerging talent will open your business to grow and the realisation of your strategic goals.