industry

Gen Z and Millennials spurn work at small firms amid hopes internships could heal the rift


Just a third of young people leaving school, university or college this year say they are drawn to working in the SME sector, the bank’s research suggests.

The majority believe it can’t offer the same level of job security, earnings or opportunities for career progression compared to bigger firms.

Yet SMEs make up 99 per cent of private sector companies and 70 per cent are actively recruiting for entry level roles, be those for graduates (43 per cent), further education leavers (36 per cent) or school leavers (35 per cent).

Micro businesses fare the worst with only 18 per cent expressing a wish to be employed by one. Instead, the most popular career aspirations for Generation Z and Millennials are to work for a large firm (51 per cent), the public sector (51 per cent ) or a multi-national corporation (49 per cent).

Sue Douthwaite, Santander Business managing director, warned: “SMEs are the backbone of the UK economy, making up the overwhelming majority of private sector businesses.

“While there are fantastic opportunities working for large companies or the public sector, anyone about to leave education should not discount the huge range of exciting career opportunities offered by the nation’s SMEs.

“They can provide huge opportunities for growth and many are at the forefront of British innovation and exports.”

Graduate recruitment in particular is still at the top of the SME hiring agenda, with nearly a third (30 per cent) of businesses having hired a graduate in the last 12 months and a similar number (32 per cent) planning to do so in the next 12 months.

Santander runs a UK-wide Universities SME Internship programme which matches up firms with interns at one of its 84 partner universities. SMEs can contact one of Santander’s partner universities to find an intern who matches the needs of their business and are keen to begin their new career.

The bank will then contribute up to £1,500 to each SME per intern towards a placement lasting from 1-10 weeks.

Lack of interest among young people in SME careers may, in part, be due to lack of exposure to them, the research also indicated.

SMEs tend to be less visible at careers fairs, with a third (33 per cent) admitting that they do not engage directly with education providers, so graduates and school leavers may need to be more proactive in reaching out to them in comparison to the big businesses and public sector which often exhibit at careers events.

Matt Hutnell, ‎Santander Universities UK director, advised: “SMEs may not be as visible in education institutions as larger businesses or the public sector as they may not have the same level of resources or just historically haven’t worked as closely with schools and universities.

“An internship is a fantastic way to get to know a business so anyone who isn’t sure what they would like to do, or who is and would just like some experience, should consider speaking to the careers department at their school, college and university and finding out what opportunities there are.”

For more information about the Santander Universities SME Internship Programme please visit www.talent.santander.co.uk



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