Press Release

CONSTRUCTION EMPLOYERS RISK MISSING OUT ON HUGE SAVINGS WITH RECRUITMENT AND TRAINING COSTS

30 March 2007

ConstructionSkills calls on employers to take advantage of industry scholarship scheme

Companies in the construction sector are losing out on valuable funding and assistance with the recruitment and training of talented graduates according to new figures released today by ConstructionSkills. The figures show that employers can save an average of £12,000 per employee (1) by sponsoring a student through an Inspire Scholarship, the construction industry’s flagship grant scheme for undergraduates.

By signing up, companies gain access to the brightest and best graduate recruits to whom they are able to offer permanent jobs on graduation. As well as saving the company the cost of an extensive recruitment drive and initial training, Inspire Scholarships enable successful applicants to gain invaluable hands-on experience of their chosen career, making sure they are work-ready when they leave full-time education with some existing experience of the sponsoring company and its culture. Likewise, the company has the opportunity to work with the student in advance.

With 100 companies currently signed up to support the 2007 scheme and well over 1000 applications in the pipeline, there are opportunities for around 200 more employers to take advantage of the scheme.

According to a recent survey commissioned by the Association of Graduate Recruiters, construction companies are expected to experience the biggest shortfall in the number of new recruits in the coming years; 83% of employers questioned anticipate difficulties with graduate recruitment. Inspire Scholarships help to off-set these difficulties by promoting the benefits of jobs in the industry, easing financial burdens for students and aiding their passage into the workplace.

Sir Michael Latham, Chairman, ConstructionSkills said: “The industry can only benefit from the Inspire Scholarship scheme if more employers get involved and back it. 32% of the 87,600 new recruits needed annually by the construction industry between 2007 and 2011 are professional roles, from quantity surveyors to site managers (2). With such huge demand for new recruits, there has never been a more pressing need to encourage young people to consider graduate jobs in construction and the built environment.

“Some employers are missing a trick; we need industry to reflect applicant demand by offering adequate training and development opportunities for our most talented students via schemes such as Inspire Scholarships.”

Employers wishing to find out more about the Inspire Scholarship scheme should visit www.bconstructive.co.uk/inspire  or contact Karen Wheeler on karen.wheeler@cskills.org or 01509 282 885.

Notes to editors

(1) £12,000 is the difference between the cost of recruiting and training each graduate employee in the construction sector (£16,500), as estimated by Laing O’Rourke in its 2005 Human Capital Management report, and the average employer contribution to the Inspire Scholarship scheme (£4,500). Some research puts the cost of recruiting graduates even higher with Kimberley Clark, the consumer products manufacturing company, putting the cost of recruiting the wrong graduate at £37,000.

(2) Construction Skills Network 2007. The Construction Skills Network is the most exhaustive and comprehensive analysis of supply and demand across the construction industry. It provides the most detailed analysis of workflow and project type available for the industry and forecasts the occupational skills requirement, by region, nation and sector.  It reveals that 87,600 recruits will be needed each year between 2007 and 2011 in order to meet demand and to take account of those leaving the industry. 

• Copyright 2008 Dod's Parliamentary Communications Ltd
• About ePolitix.com
• Stakeholders
• Contacts
• Terms & Conditions
• Blog guidelines