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The latest news, trends and information to help you with your recruiting efforts.

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Posted May 29, 2019 by

Why are more students reneging on their job acceptances?

A recent discussion in a listserv moderated by the National Association of Colleges and Employers was about an upward trend that some employers are seeing in the number of candidates who are reneging on their acceptances for both internship and entry-level jobs. One employer shared that they typically see four to five percent renege but this year that has jumped to more than eight percent.

Another employer helpfully shared that they’re also seeing more reneges and speculated that students “seem to be accepting offers as a back-up plan and then continuing the recruiting process throughout the year”. That employer is getting a much higher number of reneges within a week of the scheduled start date, blamed the students, and expressed hope that career services would start counseling students more about why they should not renege on job offers.

A third employer confirmed that they too are seeing higher renege rates but offered the following ideas: “(1) it continues to be a hot job market, (2) more companies are putting focus effort on early career talent, and (3) rapidly advancing / evolving technologies for employers and students are bringing more awareness efficiency (arguably) to the campus recruiting market.”

Another factor that I suspect is playing a role in the increased percentage of candidate reneges is the very long-time — and sometimes increasingly long — between when the candidate first meets with the employer and receives a job offer until the date when they actually start work.

It wasn’t all that long ago when the bulk of on-campus recruiting was late September through mid-November with offers taking weeks to be made. Now, it isn’t at all unusual to see employers interviewing at the beginning of September, making offers of employment in the interview room, and demanding a yes/no decision within days. Backed into a corner, a student would be irrational to decline this “bird in the hand” offer in favor of maybe getting a better offer days, weeks, or even months later a/k/a two in the bush.

Then, accepted offer in hand, some employers will essentially go radio silent and have little to no substantive contact with the student for months. Maybe the occasional email here or phone call there, but the intensity of the relationship goes from passionate to what is minimally required, and sometimes even less. Is it any wonder that the student loses their excitement and is open to reconsidering their acceptance?

To the employers who are frustrated by the reneges, let’s get creative about the entire process. What is within your control? Does your recruiting cycle really need to be driven by a fall/winter schedule that has existed since the 1950’s? Would it make more sense to look at alternative means to engage with, extend offers to, and continue to engage with students? 

Put another way, if an epidemic or other such natural or even manmade disaster were to prevent your team from flying out to college campuses around the country, how else could you recruit your next generation of leaders? Maybe look at those contingency plans — or create some — and then put them into place on a pilot basis. Maybe, just maybe, some of those contingency plans will deliver better candidates faster and for less money than the process many organizations have followed since “I like Ike” was a commonly heard campaign slogan.

Posted May 04, 2016 by

61.9% of interns become permanent employees upon graduation

One of the benefits of being an owner of College Recruiter is that we went live way back in 1996 and so we’ve seen a lot of things come and go, including strong and weak labor markets. Today’s labor market is, in some ways, strong and, in other ways, weak.

The National Association of Colleges and Employers (NACE) recently reported in its Internship & Co-op Survey that its mostly large employer members are extending offers to a larger percentage of their interns, which is an indicator of a strong labor market, yet the acceptance rate of those offers is also high, which is an indicator of a weak labor market. In other words, employers are offering jobs to a higher percentage of candidates as they’re worried that it will be difficult for them to hire enough of the right people if they don’t extend all those offers yet, at the same time, a high percentage of candidates are accepting those offers as they’re worried that it will be difficult for them to get hired if they don’t accept those offers.

2004-16 Internship Offer, Acceptance, and Conversion Rates

 

According to NACE, “this year’s intern offer rate—72.7 percent—is the highest it has been since the peak of the pre-recession market (2006), although the corresponding acceptance rate—85.2 percent—still remains well above pre-recession levels. In turn, these two figures yielded a conversion rate of 61.9 percent, a 13-year high.” So, if you’re an intern or employing an intern and wondering what percentage of interns get and accept offers to work for their employer upon graduation, a pretty good estimate will be 61.9 percent.

Posted March 20, 2016 by

[video] The average cost-per-hire for on-campus recruiting is $3,582

Money saved for college with a small graduation cap

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Despite conventional wisdom, the vast majority of the students and recent graduates of one-, two-, and four-year colleges and universities do not find their internships and entry-level jobs through their career service offices. The number of schools with well staffed and funded career service offices is, by many accounts, in the dozens yet there are over 7,400 post-secondary schools nationwide. Students at big, well funded, schools with strong brands amongst the largest employers of students can and often do find their jobs through their career service offices, but they’re the exception.

From the perspective of the employer, it is also worth noting that college recruiting isn’t nearly as expensive for the vast majority of hires as it would be if all of those students and grads were hired through on-campus recruiting. A recent study by the National Association of Colleges and Employers (NACE) indicated that the AVERAGE cost-per-hire of recruiting a student through on-campus recruiting is now $3,582 when employers properly account for all of their related costs such as the costs for their college relations / recruitment office, pre-recruiting activities, recruiting trips, company visits, hiring costs, relocation, and advertising. Ouch. That cost is even higher for elite students in elite majors at elite schools. Double ouch. (more…)

Posted September 04, 2015 by

What percentage of college students graduate with at least one internship?

 

One of my favorite sources of information about all things recruiting is ERE Daily. I know most of the people who have worked there, who currently work there, and I hope to know most of the people who have yet to work there.

Occasionally, however, they publish an article which includes erroneous information. An example was an article about the so-called talent gap between the hard and soft skills offered by college students and recent graduates and those preferred and presented by employers.  (more…)

Posted April 30, 2013 by

Top Paid Grads From Class of 2013 Are Engineering Majors

Marilyn Mackes of the National Association of Colleges and Employers

Marilyn Mackes of NACE

Technical majors head the list of highest-paid majors for the college Class of 2013, according to a new report by the National Association of Colleges and Employers (NACE).

In particular, NACE’s April 2013 Salary Survey—the first look at starting salaries for the Class of 2013—found that seven engineering majors are among the 10 top-paid for the college Class of 2013. (See Figure 1.)

“Engineering majors are consistently among the highest paid because the demand for them is so great,” says Marilyn Mackes, NACE executive director. (more…)

Posted December 09, 2011 by

Most Popular Industry for College Grads is Accounting

Employers in accounting services and engineering services made the most offers to bachelor’s degree graduates from the Class of 2011, according to results of the Fall 2011 Salary Survey by the National Association of Colleges and Employers (NACE).

Rounding out the top five employers are those in consulting services, retail/wholesale trade, and financial services. Below are the industries which hired the most college graduates and the average salaries paid to those 2010-11 bachelor’s degree graduates are: (more…)