CAREER MANAGEMENT AND THE CAREER PRODUCT: SUCCESS IN GRADUATE RECRUITMENT AND RETENTION

A high proportion of graduates expect to leave their first employer within four years or less, many using their first appointment as a“stepping stone”. Graduate retention is therefore a key issue, and a growing problem, in long‐term corporate success. The ways in which organisations should meet the development needs of graduates in order to improve future retention rates are discussed. The concepts of Career Management and the graduate Career Product and its analogy with the new product development process are described. It is shown why, and how, companies must fully develop the internal elements of their Career Product in order to attract and retain suitable graduates. The key elements, as perceived by engineering graduates, are opportunities for career development, together with the challenging nature, and the content of their work. These aspirations reflect the need for companies to focus on career and job‐related factors as opposed to company specific information in attracting and recruiting graduates. Having developed the Career Product to its full potential, these facts must be clearly communicated to the undergraduate population. In this respect,the importance of regular, face‐to‐face contact with applicants, through interviews, is stressed.