Graduate training schemes pave the way for fresh graduates with little or no experience to move on their career paths in a speedy way. A diversity of employers run these training programs although these take place more often in large corporations and in certain fields like banking and management consulting. They tend to be offered by large organizations in the fields of IT, finance, law, buying, marketing, retail, human resources, procurement and logistics, and are publicized to final-year students and those who have graduated recently.
Most graduate schemes are a mixture of proper training provided “on the job.” Companies either provide training programs on-site or off-site in the form of longer residential training. This arrangement may differ from employer to employer, but the training mostly begins with an introduction to the business the company deals with, followed by a period of training. The expertise a graduate gains over the course of the scheme may comprise of people management, decision-making, project management, communication and negotiation. Graduates are regularly made a part of various departments pertinent to their preferred specialization which may be finance, marketing, communications or strategy.
The duration of these training programs mostly is between a year and two year. There are very schemes that last less than a year. During this in this period graduates usually the graduates are given a chance to go through a series of shorter placements in the various departments of a firm related to their area of specialization. This gives them an insight into the working of the various departments.
The importance given to these training schemes by the different firms may differ. A few big professional services firms make study toward an accounting qualification such as the CIMA or ACCA an essential part of their graduate training schemes, while other firms might consider the training to be totally voluntary. These training help the graduates to understand the business in a better way and support them in taking a knowledgeable decision regarding their specialization. After completion of the scheme trainees generally assume the position most favorable to their skills and preferences. These training sometimes may also prove to be a stepping stone for growth into a junior management role.
These programs greatly benefit the graduates in their career growth. During the program the trainees receive close training and support. The firm generally allocates trainees a personal adviser whose role is mainly to guide the trainees through the program and offer counseling whenever required. The contact that the trainees make during the program opens up various avenues for them for their career enhancement. Some large firms even provide funding for these training programs and also give their employees paid time off to pursue these training programs.
Graduate training schemes are thus an excellent way to jump starts your career. The set-up of the program may differ depending on the employer, but usually it allows graduates to experience many aspects of both the role and the organization as a whole.