The depth and impact of the recession has left few businesses collectively and few people individually, unscathed. Government initiatives to instill confidence and encourage spending over the past few years include dropping interest rates to record lows, and raising tax rates for higher earners - they’ve also done a lot on the jobs front. In addition to these efforts is an industry-led campaign called “The 5% Club”, designed to help boost employment figures – particularly of young people and graduates who are struggling to find work.
What is the 5% club?
The 5% is a club made up of FTSE350 companies that are committed to striving to achieve a target of having 5% of their workforce made up of apprentices, sponsored students and/or graduates within 5 years. You can visit the official website here.
Although employment figures are rising and unemployment is falling, and has been falling in consecutive quarters recently, the number of unemployed young people is still very high. The Youth Unemployment Statistics published in December 2013 report that the unemployment rate for 16 – 24 year olds was 20.5% - a significant figure. You can read the full report here. Additionally, this rate is highest in the area of London and means that two-fifths of all those unemployed are now below the age of 25.
How Can Online Recruitment Agencies Help?
When companies come to an online recruitment agency (such as ourselves!) with vacancies to fill, it’s our job to find the right candidates for them. Recruitment agencies therefore have access to vast numbers of resumes – and talent, bridging that all important gap between employer and employee.
The Graduate Demographic
Younger workers in this digital day and age are more and more familiar with the online space. Emailing resumes to agencies and having video interviews are far more commonplace than handing in printed resumes by hand; when it comes to how young people look and apply for jobs, the online environment is the best place to start looking. For graduates especially, and indeed anyone that has been through the modern education system, their journey through to the completion of their degrees cannot be done without use or computers and the Internet. Online recruitment agencies therefore, are more likely than most to have a large number of graduates and young people on their books, can be targeted by members of the 5% club to fulfil their quota and meet their needs for graduate employment.
The 5% club is a great initiative and one where online recruitment agencies such as ourselves can help. If you’re looking to be a member of this club or alternatively if you’re looking to fulfil any type of vacancy, visit us online - RecruitmentRevolution.com can help! Companies that have joined the 5% club to date include Renishaw, MBDA and Atkins and it’s currently a hot topic, being put forward as a potential solution to the national skills shortage as mentioned in this article by Gradweb.
Jamie Mistlin, RecruitmentRevolution.com - find me on Google+.