find the latest legal job
Corporate Counsel and Company Secretary
Category: Generalists - In House | Location: Newcastle, Maitland & Hunter NSW
· Highly-respected, innovative and entrepreneurial Not-for-Profit · Competency based Board
View details
Chief Counsel and Company Secretary
Category: Generalists - In House | Location: Newcastle, Maitland & Hunter NSW
· Dynamic, high growth organisation · ASX listed market leader
View details
In-house Projects Lawyer | Renewables / Solar | 2-5 Years PQE
Category: Generalists - In House | Location: All Australia
· Help design the future · NASDAQ Listed
View details
Insurance Lawyer (3-5 PAE)
Category: Insurance and Superannuation Law | Location: Brisbane CBD & Inner Suburbs Brisbane QLD
· Dynamic organisation ·
View details
Legal Counsel
Category: Corporate and Commercial Law | Location: North Sydney NSW 2060
· 18 month fixed term contract · 3-5 years PQE with TMT exposure
View details
Firms attempt to stem the graduate exodus

Firms attempt to stem the graduate exodus

Many firms are finding that it is becoming increasingly difficult to retain graduate employees, and according to a new survey, more than half of new graduates plan to leave within two years.…

Many firms are finding that it is becoming increasingly difficult to retain graduate employees, and according to a new survey, more than half of new graduates plan to leave within two years. Briana Everett reports

Research released in the UK this month from the Institute of Leadership and Management and Ashridge Business School has revealed that 57 per cent of new graduates plan to leave their current role within two years, while 40 per cent hope to find a new job within the year.

Despite the substantial competition for graduate jobs - as is the case in Australia, where job prospects for graduates have declined in the last two years - almost one in five (16%) graduates want to move into a new role as soon as possible.

The study, Managing New Graduates, which surveyed over 1,900 graduates and managers, uncovered a divergence between the expectations of new graduates and their employers. The research revealed that money, status and career advancement are the key career drivers for the current generation of graduates, with their top three priorities being challenging/interesting work (33%), a high salary (32%) and advancing their career (24%).

The research also revealed that 38 per cent of graduates are dissatisfied with career advancement in their current organisation, while one third of managers (31%) claimed their greatest challenge when working with graduates is managing their expectations.

"University students are increasingly looking at options beyond the law when they graduate," explains Allens Arthur Robinson's people and development director, Jane Lewis.

"We need to constantly look at ways to build relationships with students on campus to find varied ways of giving them a sense of the advantages of starting their career at Allens."

To ensure graduate lawyers are given the meaningful work they desire, Lewis says the firm has recently focused on giving its graduate lawyers more exposure to high-value work early on in their employment.

"Over the last number of years we have been focused on giving lawyers exposure to our clients, and their commercial issues, as soon as they start with the firm," she says, "Delivering to these expectations is critical for any firm."

Like this story? Read more:

QLS condemns actions of disgraced lawyer as ‘stain on the profession’

NSW proposes big justice reforms to target risk of reoffending

The legal budget breakdown 2017

Firms attempt to stem the graduate exodus
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
LCA president Fiona McLeod SC
Aug 17 2017
Where social fault lines meet the justice gap in Aus
After just returning from a tour of the Northern Territory, LCA president Fiona McLeod SC speaks wit...
Marriage equality flag
Aug 17 2017
ALHR backs High Court challenge to marriage equality postal vote
Australian Lawyers for Human Rights (ALHR) has voiced its support for a constitutional challenge to ...
Give advice
Aug 17 2017
A-G issues advice on judiciary’s public presence
Commonwealth Attorney-General George Brandis QC has offered his advice on the public presence of jud...
APPOINTMENTS
Allens managing partner Richard Spurio, image courtesy Allens' website
Jun 21 2017
Promo season at Allens
A group of lawyers at Allens have received promotions across its PNG and Australian offices. ...
May 11 2017
Partner exits for in-house role
A Victorian lawyer has left the partnership of a national firm to start a new gig with state governm...
Esteban Gomez
May 11 2017
National firm recruits ‘major asset’
A national law firm has announced it has appointed a new corporate partner who brings over 15 years'...
opinion
Nicole Rich
May 16 2017
Access to justice for young transgender Australians
Reform is looming for the process that young transgender Australians and their families must current...
Geoff Roberson
May 11 2017
The lighter side of the law: when law and comedy collide
On the face of it, there doesn’t seem to be much that is amusing about the law, writes Geoff Rober...
Help
May 10 2017
Advocate’s immunity – without fear or without favour but not both
On 29 March 2017, the High Court handed down its decision in David Kendirjian v Eugene Lepore & ...