Mrach 10th 2010, Midlands Business News, column by Mike Musson

Historically graduates and SMEs have not always been attracted to each other. SMEs lack the ‘perceived’ opportunities of blue-chip companies, while graduates can be seen as lacking in practical experience. However some SMEs are wising up to the fact that graduates have the potential to be a huge asset

Article

Graduates have a lot to offer, from fresh ideas and enthusiasm to knowledge of the latest technologies.   At the same time, SMEs can expose graduates to a broader work environment  and general 'business' skills than may be gained from working in one department in a corporate.

There is no shortage of high-quality graduates with ICT skills in the West Midlands; with all 13 higher-education institutions (HEIs) offering IT-focused degrees. The region also benefits from a range of established projects aimed at helping to bring SMEs and graduates together.  Business Link West Midlands can provide advice on the range of support available within specific areas.

One of the advantages of graduate employment is the scope for both parties to trial each other before committing to a permanent role through internships and work placements; around 60% of which result in a job offer being made.

Advantage West Midlands funds Graduate Advantage which provides training and support to graduates as well as co-ordinating work placements with local businesses.  By working with all the regional Universities, they can match up companies in all sectors of business with students from a wide range of disciplines.  

With regional graduates facing a struggle to find employment and SMEs looking to benefit from raw talent and lower costs of graduates, the Government's Graduate Internship Programme, Graduate Talent Pool may prove to be an attractive pull to keep graduates in the region. Under the scheme participants receive a job seekers allowance and so are 'free' to the company offering the Internship.

Another scheme open to employers of all sizes is Knowledge Transfer Partnerships (KTP) which enables graduates to work in a company on a significant project for 40 weeks to 3 years whilst also being supported by a local University.  The number of KTPs in the region has recently been increased from 70 to 210 over the next three years.  The University of Wolverhampton will lead a consortium of all 13 of the regional universities.

Recruitment costs can be a potential turn-off for selecting graduates however another AWM-funded scheme Grad Central currently provides a full recruitment service whereby the first graduate is recruited free and subsequent graduates cost just £500 each.