New research from the Association of Graduate Recruiters (AGR) has revealed that graduates who were formerly interns stay with companies six months longer than those who weren’t.
Here at RMP Enterprise, we’re delighted to hear these statistics, as they prove how invaluable work experience is for both students and employers.
Ollie, one of the co-founders of RMP Enterprise, said of the research: “Work experience is no longer optional – it’s an essential part of any student’s degree and university experience. Our research reveals that 56% of employers retain their placement students or interns as graduates, so to hear that these graduates are staying longer in their organisations is fantastic. This also shows the value of work experience, both for employers and students.”
The report was launched on 1st March 2016 at the AGR Development Conference. In all, 200 businesses were surveyed, representing more than three million staff and almost 20,000 graduates.
A university leaver entering a graduate scheme will remain with that company for an average of 4.4 years, costing a median of £2.5k in training and development across a two-year development programme.
The majority (91%) stay with their employer over the course of their programme, but nearly one in ten (eight percent) leave the year after it ends.
Reasons for leaving
Half of firms lose graduates due to unmet expectations of career progression, while 45% have had graduates leave because they want a career change.
Around a fifth (17%) of graduates leave for other reasons, ranging from issues with performance, working hours or wellbeing to moving to a smaller firm or returning to education.
Let us know your thoughts on the AGR’s findings.
Are you an employer who has taken on interns in the past? Get in touch today.