Rethink: Graduate Recruitment

GoodPeople was interviewed by CPA Australia for the Feb-Mar edition of their INTHEBLACK magazine, on the topic of Rethinking Graduate Recruitment.

Here’s the full interview extract below.

INTHEBLACK: How are employers sourcing graduates and what has changed?

GoodPeople: The primary channels remain traditional: industry or self-hosted career fairs, as well as direct engagement with university career services to identify, attract, and engage graduate talent.

Currently, the most significant shift is the emergence of an employers’ market, a development largely attributable to ongoing global geopolitical and economic challenges that are having a marked impact across the APAC region.

Moreover, the advancement of generative AI is influencing not only entry-level roles but also workforce planning at large. Organisations are evaluating whether existing positions can be fulfilled by artificial intelligence, including agentic AI, both presently and in future workforce strategies. Employers I have spoken with indicate reductions in their graduate programme investments, with some deprioritising such initiatives or, in certain cases, discontinuing them altogether.
Among organisations that continue to recognise the importance of graduate programmes, sourcing practices have shown little change. Some companies have explored enhancements to their recruitment technology, initiated social media outreach, adopted skills-based hiring, or sought to clarify their Graduate Value Proposition. However, implementation of these initiatives is sometimes delayed due to ongoing market uncertainties, which has affected budgets and staffing levels.

INTHEBLACK: What are the challenges of training and retaining talent in the current environment, where flexibility, culture, well-being and development are becoming as important as remuneration?

GoodPeople: Several key challenges are evident in this context. Firstly, flexible working arrangements are being reduced, with many companies in APAC requiring employees to return to the office five days a week or implementing stricter hybrid work policies. Research indicates that this trend differs from employee preferences. Additionally, some organisations are reportedly using aggressive return-to-office (RTO) policies to intentionally increase attrition rates as they address profitability concerns and a subdued job market.

Secondly, training budgets have been cut. Employers are increasingly managing training programmes internally, sometimes utilising AI tools such as ChatGPT for programme design to save costs. Some organisations have discontinued their graduate programmes following previous investments.

Thirdly, while remuneration remains important, research and industry reports suggest that early-career talent today is prioritising job security and future earning potential over initial salary levels. Fewer individuals at the early-career stage and among late millennials are seeking leadership opportunities, which may result in a smaller pool of candidates for managerial roles in the future.

These developments could have significant implications. Employers will need to balance demand for job security, work-life flexibility, and meaningful work among Gen Z and late millennials, while also supporting professional training and development. In light of a possible decrease in interest in leadership roles among early talent, we need to examine the underlying factors, especially considering the increasing adoption of AI in the workplace.

INTHEBLACK: Is there a misalignment of values between grads and employers?

GoodPeople: This topic should be carefully considered, since values play a significant role in shaping societal norms and professional environments. We are currently experiencing a period of considerable change, marked by substantial shifts in global dynamics and the advent of a new industrial revolution. At Good People Consulting, our research indicates that early-career professionals increasingly prioritise flexible working arrangements, high ethical standards, supportive leadership, and engagement with organisations that demonstrate purpose and strong corporate social responsibility. Over the past decade within the talent analytics sector, there has been a discernible transition from motivation driven primarily by personal rewards or organisational culture to a deeper evaluation of organisational integrity and impact. This evolution in talent preferences appears to reflect broader shifts in mindset aligned with ongoing social, political, and economic developments.

INTHEBLACK: How do we help people understand how exciting accounting can be, and where it can lead?

GoodPeople: I’d prefer to begin by seeking to understand individuals rather than simply attempting to present accounting in an appealing light. My work involves helping organisations assess how they are perceived by prospective talent, identify where they may be losing talent, and determine what factors make them attractive employers. Over the past decade, I have consistently observed that many companies lose talent due to discrepancies between expectations and reality. For instance, in the case of a Big Four firm in the APAC region, primary research indicated that they were viewed as lacking a flexible and friendly work environment, particularly within their tax function, which was believed to offer limited variety. In reality, the firm demonstrates robust flexible working policies, including casual dress codes, flexible hours, and work arrangements. The workplace itself is highly collegiate, with hundreds of early-career professionals contributing to a dynamic and energetic atmosphere. Additionally, the tax division offers considerable mobility due to the diversity of taxation areas in practice. By identifying expectation-reality gaps, organisations can address misconceptions, highlight their strengths, and reduce reliance on subjective biases or intuition when promoting careers in accounting.

INTHEBLACK: What learning frameworks suit graduates best, and how do you create a graduate program?

GoodPeople: I don’t think there’s always a one-size fits all learning framework. In framework design, to quote my good friend Paul Monk from graduate specialists Alpha Development, there’s a “POP” at the core of any well-designed and mutually beneficial early careers programme: Purpose, (One) Programme, and Potential.

Purpose – Clearly state the intended outcomes of the programme, outlining the benefits for the organisation, participants, and other stakeholder groups. Without this clarity, the value proposition may be limited to short-term, transactional outcomes.
Programme – Integrate talent acquisition with programme delivery, using KPIs that represent the overall performance of the programme rather than only hiring and training metrics.
Potential – While all graduates demonstrate potential, a subset (10-15%) may show significantly higher capability, often identified 12-25 months after joining. Early identification and targeted development through mentoring or specific job placements can support their growth.
Developing a graduate programme that integrates design thinking, systems thinking, and a research-based talent framework, while delivering on sponsor and stakeholder needs, will provide clarity, structure, and credibility – making it both trusted and appealing to graduates.

INTHEBLACK: And what are different APAC regions doing that is working well? Is the challenge the same across APAC?

GoodPeople: The APAC region encompasses significant diversity and distinct characteristics across various markets that would be difficult to capture in a brief comment. Typically, graduate programmes are managed regionally from headquarters situated in capital cities such as Singapore, Kuala Lumpur, and increasingly in Bangkok, with local hiring and onboarding supported by market-specific operations. Graduate engagement and hiring in China is particularly inventive with many new technologies and innovative attraction campaigns already operationalised. Overall, organisations that achieve success may not necessarily employ a single unified programme, provided there is clear articulation of objectives for each country and appropriate oversight. It is advantageous to pursue regional or global alignment in areas where economies of scale apply, including the adoption of a consistent technology infrastructure, standardised programme frameworks, and harmonised backend processes. However, these should be integrated with robust local relevance – ensuring a deep understanding of market challenges, fostering local ownership, and maintaining a transparent approach to sponsorship and programme delivery. Indeed, achieving both global alignment and local relevance is easier said than done. Moreover, greater challenges persist: with advancements in artificial intelligence, questions arise regarding whether career pathways, compensation structures, and the nature of work within the accounting industry remain compelling and pertinent.