Drawing from the success of the Prescient graduate programme, head of talent Joanne Meyer offers some key insights into what makes a graduate programme truly successful.
It’s no secret that South Africa has one of the highest unemployment rates in the world, with a staggering 45.5 percent unemployment rate for young people under the age of 34 according to Statistics South Africa.
More research by Statistics South Africa shows that youth with experience are more likely to successfully transition into employment than those without. This highlights the pressing need for effective graduate programmes that not only provide jobs, but also foster sustainable careers.
1. Meaningful work experience
A cornerstone of any effective graduate programme is the emphasis on meaningful work. Graduates should not be relegated to administrative tasks, but given responsibilities that challenge and develop their skills. This approach ensures that participants gain valuable, real-world experience that is directly applicable to their future careers.
2. Comprehensive exposure
Graduates benefit greatly from exposure to various aspects of the business, so aim to facilitate flexible rotations through different departments and business units. This helps graduates identify their unique skills and interests, providing a holistic understanding of the financial services value chain. Such comprehensive exposure accelerates their career progression and equips them with a diverse skill set.
3. Strong mentorship
Mentorship is a vital element of any successful graduate programme. Graduates should have access to leaders and industry experts who can provide guidance and support. Our open-plan workspace facilitates direct interaction between graduates and senior leadership, promoting a culture of knowledge transfer and continuous learning. This fosters rapid career development and builds confidence in young professionals.
4. Cultivating the right culture
A supportive and collaborative culture is essential for attracting and retaining top talent. We strive to create an environment where people choose to work – our culture encourages exploration, brainstorming, and immediate feedback, making graduates feel valued and engaged. This is evident in the career development and feedback from previous graduates who now work as permanent Prescient employees.
5. Focus on long-term careers
The ultimate goal of a graduate programme should be to create long-term career opportunities. Our programme has seen many participants secure permanent positions within the company.
These roles span various fields, including investment operations, data science, equity research, trading, and quantitative research. Others have used their experience as a springboard to successful careers at other leading financial services providers.
6. Celebrating success stories
Highlighting success stories can inspire current and prospective participants. For instance, one graduate from the 2020 cohort advanced from a quantitative analyst to portfolio manager within four years. Another graduate started as a junior trader and now excels as a fixed income trader, part of an award-winning team. Celebrating these achievements not only boosts morale but also showcases the potential career trajectories within the programme.
7. Continuous improvement
Regular introspection and adaptation are necessary to maintain and enhance the effectiveness of a graduate programme. We constantly evaluate our programme, seeking ways to replicate and build upon our successes. This commitment to continuous improvement ensures that the programme remains relevant and beneficial for future graduates.
Creating a successful graduate programme involves more than just offering jobs; it’s about fostering an environment where young professionals can thrive. In a world where top talent has many choices, it's essential to create a programme that not only attracts but also nurtures and retains the best and brightest.
If I could render advice for building a successful graduate programme, I would summarise it like this: In a world where top talent can be employed anywhere, what are you doing to create an environment where people choose to work with you?
