According to agribusinesses surveyed in the recent AgCareers.com Intern & New Grad Report, we’re approaching one of the busiest months (March) for filling and completing new graduate job offers. Meanwhile, there is increasing demand among employers for sales and production roles, the most hired categories for new graduates. This competition for talent necessitates that employers create compelling job offers for new grad hires.
College students are becoming savvier at analyzing and negotiating job offers. More than half of U.S. employers responding to our survey said they could offer sign-on bonuses to new graduate hires to entice them to accept the offer.
We all know that money talks, but students are being schooled in pay structure beyond just salary and sign-on bonus. Even though a traditional student may not have the same life experiences that allow them to appreciate all the “extras” in a job offer, their educators, advisors, and parents are talking up the total compensation package.
Employers should be prepared to discuss not only base salary, but additional earning potential such as bonuses, incentives, and commissions. Expect questions about how performance reward programs are structured, such as how performance is measured, earnings caps, stipulations, and how often goals are typically met by those already in the role. Organizations had better attempt to anticipate questions and include as much detail as possible (in a clear, concise format) in job offers.
According to the recent AgCareers.com survey, health insurance and training/development were the most frequent benefits offered to new graduate hires in both the U.S. and Canada. Benefits are an important piece of the total compensation package, and employers shouldn’t hesitate to highlight how these are a vital component of a student’s overall economic security. This goes for benefits that can be an easily calculated dollar figure, such as health insurance, to more subjectively measured benefits like training and development.
Training/development programs are especially significant for students, as an important tool to aid in career progression and goal attainment. Students consider how the organization could help them achieve their professional goals. Employers that provide students with opportunities to learn and grow can really make a difference in a new grad’s career trajectory.
Full results of the 2017-2018 Intern and New Grad Hiring & Compensation report are only available to survey participants. For more compensation data, inquire about AgCareers.com’s Compensation Benchmark Review. To be included in the next Intern and New Grad Hiring & Compensation survey, email email@example.com.