Graduate Employment Market and Emerging Trends in UK Retail Industry
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Added on 2023/06/09
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The report evaluates statistical information on the graduate employment market in the UK retail industry and analyzes the required soft skills. It provides recommendations for Tesco's CEO to attract high-caliber graduates through professional development plans, social media marketing, and competitive packages.
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The graduate employment market and emerging trends
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Table of Contents Introduction......................................................................................................................................1 Graduate Employment Market Statistics.........................................................................................1 Analysis of the required soft skills...................................................................................................1 Conclusion.......................................................................................................................................2 Recommendations for the Tesco's CEO..........................................................................................3 References........................................................................................................................................4
Introduction The UK's retail industry basically comprises of approximately 300,000 business and all these businesses employees around 3 million of the jobs. In the present report, it basically evaluates the statistical information in relation to the graduate employment in relation to the retail sector. In addition to that, it comprises of the skills analyses which are basically needed in order to perform the effective functions and also it comprises of the recommendations to the Tesco's CEO for the various recruitment strategy. Graduate Employment Market Statistics As per the reality and figure from the UK government official sites the graduate work rate is around 86.4% which is somewhat down from by 1.1 percent as compared to the data showing towards 2019 (87.5%). notwithstanding this around 66% of graduates were enjoyed high talented work. The typical compensation that graduates get from the business is around 35000 euro in 2020 (Graduate labour market statistics, 2021). 1
Analysis of the required soft skills In context to organisations, the soft skills play a very important role as compared to the hard skills. Soft skills assume indispensable part as on the hard skills. As the above stats and data plainly showed that the tremendous numbers of graduates have the hard expertise that helps them to carry out the powerful roles in the functional market. Also, the market prerequisite is quickly changing, in which associations in retail industry are zeroing in on delicate abilities in a representative too. A portion of the delicate abilities which exceptionally expected in the referencedbusinessarecustomeraddressingroles,Communicationabilities,performance management, cooperation abilities and so on these abilities are profoundly in the interest. In reference to the company, some of the soft skills which are required involve team work skills, communication skills, aptitude skills and much more which are greatly in demand. In case of the recruiter, they usually prefer the people who have these skills. Communication skills: In context to organisation, these skills play a very important role when an organisation is looking for the ideal candidate who have strong and powerful communication skills and who can effectively communicate with the team. In 21st century, it is very important to have these skills. Communication is very important because in the retail sector the executives, managers and leaders needs to communicate with each other and customers to provide better experience every single day. Team working skills: In context to organisation, working in a team plays a very important role and helps in achievement of organisational goals in a timely manner. In 2
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reference to an individual, it is very important to have the right team working skills. Within a retain industry people work very closely as team members and are mostly grouped together to carry specific tasks. This makes it essential for the new graduates to possess team management and team working skills to be effective at the workplace. Innovation and creativity: In the UK economy there are enormous quantities of retail business that offer their administrations in the specific field. Thus, to get the relative benefit associations are depending on imaginative methodologies in their business tasks. Hence, associations principally recruiting those prospects/candidates that can foster imaginativepractices,innovationandcreativitytoplayoutanyinferredtask. Subsequently, recruiters focus on those new-comers which have such referenced delicate abilities in their character. Stress Management: To act competitively and keep growing in the retail business is definitely not a simple errand. As the retail business revelled with performing various tasks as well as the struggles in the business activities is normal. As to this, the interests for representatives that have suitable skills to tackle stress and manage problematic situations are proffered for the job role. Accordingly, such expertise help the person to all the more likely handle what is going on as well as help the association capabilities by improved outcome(8 Essential Skills for Retail Employees & How to Assess Them, 2021). Conclusion From the above report, it can be concluded the large number of employees are highly skilled and are employed by the retail sector and it is very important for the employees or the graduates to have skills such as communication, creativity, team working and much more. It has been concluded from the above report that an individual needs many skills like communication, stress management, group work and so on to be completive for achieving a desired job role. 3
Recommendations for the Tesco's CEO In context to organisation, the company is widely popular and has vast number of staff. In addition to that, to cater the high calibre of the graduates towards the company, below are few of the recommendations which could be adapted by the company. Professional Development Plan: In context to the graduates who are basically involved in looking for a job are likely to give preferences to the companies with the help of offering those training programs and the growth opportunities for the purpose to improve their skills. With the support of the effective professional development plan, the company can easily attract the right candidates. Focusing on use of social media: In context to the organisations, the use of the social media marketing could result in attracting huge number of candidates who have recently graduated. In addition to that, the recruitments in the today's scenario are basically done through targeting the right audience through social media platforms. Social media has entered into every aspect of our lives and almost every person is present on social media that makes it important for the organisation to focus on hiring such staff those have knowledge of social media. Offering competitive packages: In context to organisations, through offering attractive incentives and salary can easily help the organisation in attracting large number of graduates in order to perform the business functions. With the help of improving the digital activity the organisation can improve talent acquisition and get maximum reach to the prospective graduates. The remuneration plays a very important role in the hiring of employees and prospects mainly look at wages when they enter into the industry. 4
References Online THE UK RETAIL INDUSTRY, 2022. [Online] available through:https://brc.org.uk/climate- roadmap/section-1-context/12-the-uk-retail-industry/#:~:text=The%20retail%20industry %20in%20the,were%20worth%20%C2%A3439%20billion Graduate labour market statistics, 2021. [Online] available through:https://explore-education- statistics.service.gov.uk/find-statistics/graduate-labour-markets 8 Essential Skills for Retail Employees & How to Assess Them, 2021.[Online] available through:https://harver.com/blog/skills-needed-retail-employees/ 6 Proven Recruiting Strategies to Attract New Graduates, 2022.[Online] available through: https://www.hackerrank.com/blog/proven-recruiting-strategies-to-attract-new-graduates/ 5