DEPARTMENT FOR
INNOVATION, UNIVERSITIES AND SKILLS News Release (049) issued by COI
News Distribution Service on 29 April 2009
Graduates who want
to boost their skills for employment will get real help through
the new 'Graduate Talent Pool', the next stage in our
graduate internship initiative launched by Universities and Skills
Secretary John Denham today.
The scheme which will help create and match people to internships
will, assist more graduates kick-start their careers by gaining
the skills and experience they need to get-on through an
internship and will offer a great way for companies to inject
fresh talent into the workplace.
Graduates are less likely to be unemployed than those with lower
qualifications (3.3 per cent compared to 8.1 per cent) but
the' Talent Pool' will add to the way internships can be
offered and will ensure more young people can benefit from one
next year.
The internships will help graduates build on the high level
skills gained through their degree, get transferable work
experience, try their hand at a potential career path and prove
themselves to prospective employers.
A new dedicated website, which will match employers with suitable
graduates will be launched over the summer, although interested
organisations can register their interest in becoming part of the
Graduate Talent Pool today online at http://www.dius.gov.uk/graduatetalentpool.
Businesses that have already signed up to the Talent Pool include
Network Rail, the Police Service, Marks and Spencer and Microsoft.
During the current economic downturn the Government is looking to
support graduates seeking work. The aim is for the 'Graduate
Talent Pool' to support 5,000 internships, building on the
2,000 already achieved through HEFCE's Economic Challenge
Investment Fund and will sit alongside other additional graduate
opportunities, including:
* Demand for an additional 14,000 postgraduate places can be met
by universities and supported by Professional and Career
Development Loans. Up to 30,000 Career Development Loans will be
available this year;
* 250 short term placements through Mini Knowledge Transfer
partnerships, rising to 500 in 2010/11; and
* Thousands of existing volunteering options available through
"V", an organisation aimed at young people between
16-25, and other voluntary organisations.
Secretary of State John Denham said.
"A degree is one of the best pathways to achieving a good
job and rewarding career, however nobody is immune from the
current economic climate which is why we are committed to proving
graduates with the support to help them gain employment or further
their education.
"The talent pool will help match motivated graduates with
employers giving them vital experience and improving their
employability to succeed in the job market.
"I urge those employers who want to benefit from the skills
graduates can bring to register their interest and sign-up to the
Talent Pool online.
"The Talent Pool will sit alongside the thousands of other
opportunities available to new graduates that will help them
improve their chances to get a long term and well paid career."
Earlier this week John Denham announced that graduates already
claiming Job Seekers Allowance for six months or more will be able
to do an internship for up to 13 weeks alongside claiming benefit
and looking for work. It will mean that unpaid internships will be
open to graduates irrespective of whether they themselves or their
families can support them.
Notes to editors
1. The Graduate Talent Pool prospectus can be viewed online at http://www.dius.gov.uk/graduatetalentpool
2. The Graduate Talent Pool does not seek to replace existing
schemes offered by businesses. We expect the Talent Pool will
offer internships in both private and public sectors and that most
employers will want to offer a wage which recognises the balance
between the benefits a graduate brings and the skills and
experiences they require.
3. Graduates are less likely to be unemployed than others (3.3
per cent compared to 8.1 per cent) and the Association of Graduate
Recruiters have predicted growth in employment in the public
sector (3 per cent), FMCG (12.9 per cent) and law firms (2 per cent).
4. Professional Career Development Loan (CDL) can help to pay for
up to two years of learning or up to three years if the course
includes one year's relevant practical work experience. The
Government will have increased the number of CDL from 15,000 to
45,000 by 2010/11.
5. Post-graduate study offers the opportunity to learn skills and
obtain the qualifications needed for specific careers or simply
help individuals stand out in the job market. Estimates based on
evidence from universities and PGCE trends suggest around 6,000
additional and 8,000 part-time places will be available to
graduates in 2009/10.
6. Mini-knowledge transfers are 10 to 14 weeks placements in SME
for graduates and post-graduates, working on specific projects
vital to businesses.
7. V is an organisation that makes it easier for young people
aged 16/25 find volunteering opportunities that will help their
local community while giving them much needed experience. For more
information visit http://www.vinspired.com.