Don't lose sight of your Graduate fundamentals!

We are seeing it in the media, we are hearing it in boardrooms and corporate corridors – "finally those uppity Gen Y graduates will get a reality check!". Whilst there will certainly be some form of reality check for graduates, there is a danger in thinking this is the end of the need to cater for graduates at the most basic level.

Sure, job flexibility is going to be reduced. Yes, perks, bonuses and rapidly rising salaries will be things of the past (well, for the time being anyway!). There is also no question that graduates will need to add value and fit into organisational norms just as Gen X's did during the downturn of the late '80's.

But just like any other talented employee, talented graduates still need to be retained. And how are they going to add value to the organisation after this 'rude awakening'?

As Fusion espouses, every graduate intake has it's A (talent/future leader), B (effective/get the job done) & C (ineffective/underperforming) players. The fact remains that organisations still need to engage and retain their A players and, where possible, their B players. The cost of replacing them is still high regardless of the economic situation.

Whilst we are in the midst of challenging times there is one thing that hasn't changed and that is the fundamentals. Effective development strategies and great leadership are always required regardless of the economic situation. It is only through addressing the fundamentals that we can tap into graduate's discretionary effort and increase their effectiveness in the organisation.

Effective Development

Now, more than ever, it is vitally important to develop graduate's skills to cope with the 'New World Order'. As I discussed in last month's article, graduates have generally come from an environment that is vastly different to that experienced in the workforce. They require skills and tools to transform behaviours and attitudes. Only then can they move quickly toward becoming effective, resilient, value adding members of the organisation.

Development programs must be targeted to address the most important developmental gaps. With many organisations facing budget cuts it is sometimes just not possible to cover all developmental requirements. It is therefore vital to use all your available tools to ensure the structure of your development program provides the greatest return it can. We can no longer afford to simply throw darts at developmental workshops pinned on a board rather we need to deliver programs that are underpinned by specific data that will assist in the identification of both individual and overarching graduate developmental needs.

It is also important to keep in mind that, over and above perks, pay and flexibility, 74% of graduates rate development as a the most important factor in considering an employer (source: 2008 AAGE Employer Survey).

Great Leadership

"People don't leave organisations, they leave managers"

Transformational leaders do not lead the homogenous mass. They are flexible in their leadership style and approach and lead individuals. By leading individuals they inspire and motivate people to achieve over and above what is expected. We could write for pages about the importance of creating transformational leaders. In the context of leading graduates, understanding generational paradigms is just one way of increasing leadership flexibility. It enables leaders to increase their understanding and tap into the mindset of graduates, resulting in a more flexible and adaptive leadership style. Understanding graduates is just one aspect. Leaders need to develop these skills to ensure they are part of a culture that attracts, retains and inspires talent from all generations.

Equally important is the creation of effective mentors (or coaches). Given the rotations graduates often experience early in their careers, mentors can have as big an impact as leaders. Just allocating a mentor to a graduate is not enough. Mentors must be developed in the skills and competencies required to be capable in their role as mentors. They too need to understand generational paradigms to increase their effectiveness.

Even though there are changes in the marketplace, organisations still need to attract, develop and retain the most talented graduates. Feedback from graduates suggests there is an element of fear creeping in.

Will this mean they change their expectations and begin conforming to organisational norms?

There will definitely be some changes. What won't change is the real need to develop and lead graduates to ensure they are productive and high achieving employees for your organisation.

We all know that graduates chat about who they see as the employers of choice. The higher up that list you are means the greater the chance you have of attracting the most talented graduates. But get things wrong and that may change in this very dynamic market place.

Put yourself in the shoes of an 'A player' graduate – does your organisation's graduate development program and leadership capability stack up?

For more information on our customised full range of 32 flexible development workshops with both graduates and managers please contact us at info@fusiongms.com.au