SME’s are creating three times the amount of jobs than larger firms, but only a third of graduates actually want to work for one!
In a recent study commissioned by Santander, small and medium sized enterprises (SMEs) have created three times more jobs in the UK than the larger firms over the last five years.
Businesses employing less than 250 staff added 1.7 million jobs between 2013 and 2017, whereas the larger firms added only 650 thousand; this equates to a 14% increase vs a 4% increase respectively.
This clearly shows that SMEs are central to the health of the UK economy and the current high employment levels the country is enjoying. With SMEs offering employment at this rate, they are likely to overtake the larger businesses and become the primary employers by 2030 if the trend continues at the same pace.
What are our graduates and young people actually looking for as they venture into the workplace for the first time? Regretfully it seems that two thirds fail to recognise the scope of challenging and fulfilling opportunities that exist within an SME and aspire only to work for a large firm. The remaining third are perhaps the ones that will secure work faster as they apply where there are an abundance of jobs and subsequently start their career earlier.
Even with the great range of interesting roles that SMEs are offering, Generation Z and Millennials are still saying that they are concerned about career opportunities on leaving full time education, suggesting they’re disregarding working for an SME.
As IT and Finance recruitment specialists, we can substantiate that SMEs are offering an abundance of progressive jobs where personal development is prevalent. Not only are there a vast number of opportunities, but many of these companies are increasingly offering added benefits to appeal to Generation Z and Millennials such as flexible working in terms of location and hours. We therefore actively encourage our candidates to look at the fantastic career opportunities that are on offer from the SMEs.