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What is a Graduate Trainee Program?
A graduate trainee program is organized by businesses and designed to prepare recent graduates of tertiary institutions for work. Typically, it will involve a mix of taught sessions and on-the-job experience, both of which are geared towards equipping recruits with the technical and soft skills they need to succeed at possible roles. At the end of a graduate trainee program, at least some of the trainees are hired by the training company and deployed to full-time roles. Otherwise, they become part of a talent pool from which that company can draw new employees at some point in the future.Why More Businesses are Organizing Graduate Trainee Programs
As we said earlier, a growing number of businesses are instituting graduate trainee programs. There are many reasons for this, including:- Creating a steady supply of talent to fill crucial roles
- Manage staff turnover
- Reduce the cost of hiring the best talent
- Familiarize potential employees with the organization before they are hired
- Improve the competence and efficiency of recruits
Potential Downsides
Despite the benefits that a graduate trainee program produces, it does have a few disadvantages you’ll need to consider, such as:- The cost of selecting and training, which you might forego with a more direct approach to hiring
- The risk of incurring a negative return on training investment if trainees leave early on
- Potential for largely unproven talent to underperform when deployed to full-time roles
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Should Your Company Have a Graduate Trainee Program?
If you are thinking about setting up a graduate trainee program at your company, you should consider the following before deciding whether or not to go ahead with it:Cost Versus Benefits
Do the benefits of running a graduate trainee program far outweigh the costs you’ll incur from doing so? You can think about this in financial terms. For example, the value that an alumnus of your graduate trainee program will produce for your business within a year, compared to the cost of training him or her. If the former is greater than the latter, a graduate trainee program is probably a good idea.The Presence of Mentors
Are there staff at your company who are experienced enough to mentor new, younger recruits? Graduate trainees need to be helped along by people who have been in the business for a while, and who understand it and their roles well enough. Unless you have these leader figures in your organization, you may be better off using more traditional hiring methods.Alternative Programs
Are your company’s aims better served by internships than by a graduate trainee program? The former tends to have a shorter duration and requires less remuneration. This might present you with a chance to read potential recruits at a lower cost, but you’d have to sacrifice the greater thoroughness that comes with a trainee program.The Ease of Finding Ready-Made Talent
How easy (or difficult) is it to discover and attract people who are skilled enough to quickly fit into your organization? The paucity of adequately skilled workers is one reason graduate trainee programs are becoming popular with companies. These programs enable such organizations to turn promising graduates lacking in certain knowledge areas into well-rounded professionals. However, if it’s not hard to find good fits for roles in your business, you can afford to forego a trainee program.Register to attend the CN Business Mixer
Final Words
Your company may be struggling to bring in decent employees. You can solve this problem with a graduate trainee program. Just make sure to weigh the associated costs, and its potential benefits versus traditional approaches to hiring, before deciding on the next step to take.Did you find this article useful? Contact us: editor@connectnigeria.com
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