Graduates need to be seen as an asset and not a cost, Richard
Boot, West Midlands' chairman of the Institute of Directors, urged
today.
And he called on employers to utilise the resource despite the
current difficult economic climate.
His comments come as graduates are pouring out of the
universities, often with little prospect of a job. And many
are set to shun the West Midlands - research has shown that only a
fifth of local undergraduates intend to start their career in the
region.
"To state the sublimely obvious… the major problem for
graduates is finding a job," said Mr Boot.
"We desperately need to retain them in the West Midlands in
order to keep and build the stock of skills particularly as we are
behind the game as a UK region."
Regional development agency Advantage West Midlands has
constantly emphasised that the region's skill levels are inadequate
and must be improved.
"One way of achieving that is for graduates to get the
opportunities they deserve; otherwise they will look farther a
field in the search for work," said Mr Boot.
"And we cannot afford that to happen.
"We would encourage employers to invest in these people and take
them on for future growth; not see them as a cost."
Mr Boot also urged hard-pressed companies to take advantage of
the Graduate Internship scheme.
The aim is to help businesses access graduate level skills and
knowledge, boosting performance in the workplace while providing
unemployed graduates with vital experience. There is no wage
cost to the employer.
The project is part funded by AWM and the European Social Fund,
and is delivered through a partnership which also includes the IoD,
Jobcentre Plus, the region's universities and Graduate Advantage,
the regional placement service led by Aston University.
Graduates spend up to 30 hours per week working on projects
specified by the employer. Mr Boot said: "This offers
employers a unique opportunity to help them develop their business
while providing unemployed graduates with vital experience of
work.
"The West Midlands needs more people working in graduate level
jobs in order to raise competitiveness and increase the output of
the region. This project improves graduates' chances of becoming
employed and staying employed in the future.
"We need to close the output gap and be ready to maximise the
crucial business opportunities that will be presented by the
economic upturn."
Midland-based consultancy Network Recruitment Partnership warned
that a lost year for graduates could impact on the future, leading
to worsening skills shortages.
Robert Wigley, a director of NRP, which specialises in
engineering and technical jobs, said: "We could see an effect right
through the pipeline.
"If graduates can't get the work experience in the industry that
they need then we will fall behind. It is vitally important that
today's graduates can get a start.
"Times are tough now, but these people will be sorely needed
when the economy picks up."
The danger too was that where graduates struggled to get
meaningful jobs it would make it even harder for schools to
interest pupils in sectors like engineering.
There are around 52,000 new graduates in the region this
year.