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Contrary to the popular belief that graduates are tempted by companies with added quirky benefits like ping pong tables in the office, beanbags and designated yoga zones, Milkround's research offers different conclusions.

Last year's survey reached out to over 5,000 students and recent graduates to discover their thoughts on their future careers. One element of our research focused on what benefits respondents looked for when applying for jobs. What was revealed to us was that this demographic doesn't seek out benefits that are out of the ordinary. In fact, some respondents who provided additional comments in their responses claimed they wouldn't expect any benefits from their employer beyond a fair salary. In reality, the top two benefits graduates expect are really a given: a pension (74%) and healthcare scheme (54%). Following these are a subsidised canteen (31%) and subsidised gym membership (30%) - far from rarities.

This shows there's still a way to go when it comes to understanding how to market to millennials; and even with this insight, we are still speaking in very general terms. By communicating directly with graduates as Milkround does, we can guide recruitment processes more accurately - while remaining wary of applying a "one size fits all" policy to the incoming cohort. It's clear the assumption that graduates are tempted by how "Instagrammable" company benefits are is not accurate. Especially if these benefits exist merely to cover up a below average employee experience.

Here's what you really need to ensure you can offer a valuable working experience for your graduates:

A competitive salary

When asked what the most important aspects of a job are, salary came out on top for students and graduates. 38% selected this as the most crucial aspect of a future job, showing they understand that this practicality should be prioritised over fun benefits.

Gaining experience and responsibilities came behind salary, at 22%. Benefits offered slipped down the list of priorities for these jobseekers, at 2%. Average earnings across roles and sectors are widely available online, meaning graduates are more prepared than ever when it comes to knowing their worth and seeking out companies that respect this.

Regular feedback

Encouraging recent graduates to take onboard constructive criticism with dignity is important. The easiest way to achieve this is to have regular feedback sessions.

Annual reviews of performance, or probation round ups, are a vital way to provide feedback and implement future targets. However, less formal, more regular feedback must also take place to ensure new graduate employees are aware of the multitude of areas they can develop - from their delivery of everyday tasks, to their personal branding and internal relationship building.

Clear career development

Putting a transparent, concrete career development plan in place that new graduate employees are aware of from the beginning of their employment is essential. Graduates want to see the potential pathways that could open for them. Establishing future milestones means motivation stays high and employees see you are actively investing in their career development. With young employees commonly known to "job hop", making sure internal progression routes are made clear and achievable to them could mean they're more likely to stay with your company.

Overall, it's important to get the basics right before expanding your offering to include the out-of the-ordinary benefits. What graduates really want, just like other generations, is to be treated fairly when it comes to salary and responsibilities and to have concrete development opportunities. After that, you can start adding extra frills to your offering.

T: 03330145111

W: Recruiters.milkround.com

Blog: milkroundrecruiter.com