A new study by the bank Barclays has concluded that, on average, graduates spend £550 on job interviews before finding a role. This includes everything from travel and accommodation, clothing, studying material and software for the role.
Further, the study also shows that almost half of these graduates can’t afford this cost without going into debt. This has led to just over half of the participants admitting that they have cancelled an interview due to funds, or even not applied at all.
The study has led to Barclays setting up a scheme where graduates can apply for a grant of £550 to go towards interview costs.
This show of generosity from Barclays and companies like Timpson’s, who offer free dry cleaning for those with an interview coming up, has had us thinking about corporate social responsibility and how companies can assist these graduates. After all, it is in a company’s best interest to attract the right talent, and if the only thing stopping the right person for the job from applying is a sum that is less than half of the average monthly graduate salary, then it would be a worthwhile investment.
At Halecroft we do our part in this aspect by supporting an amazing charity called Smart Works. Smart Works specialise in getting women back into the workplace by providing them with an interview outfit and coaching from industry professionals on how to perform in an interview.
How about your business? Do you have any policies in place to support potential interviewees? We’d love to hear about them. If not, why not speak to us about how our recruitment process can be tailored to make them as easy as possible for your prospective employees?