City of London employers are being offered the chance to get a head start in the competitive race for high-achieving graduates, pre-empting the “Milk round” and endless university fairs, by offering successful school-leavers from the City fringes paid placements to start as soon as their school holidays begin.
The search is now on for more City firms to offer placements where students will work for up to 13 weeks as part of the City of London Business Traineeship scheme this summer.
The City of London Business Traineeship scheme is fully funded by the City of London Corporation and is delivered by the Brokerage Citylink.
Candidates from schools and sixth form colleges in the City fringe boroughs are assessed on the basis of their G.C.S.E. grades and then undergo an extensive interview and workshop process to prepare them for their City placements. Successful candidates are then matched to participating City firms for the final interview process.
The scheme began with a view to allowing students from state schools in City boroughs an insight into working in the City and encouraging them to think of it as a viable career option for them. Now, however, City firms realise that it is also hugely beneficial from a recruitment and HR perspective as the graduates positively improve the diversity of the workforce and have less conventional ideas and therefore working strategies.
While many employers in the City look overseas to fulfil their recruitment needs, the Cit of London-funded scheme highlights the pool of fresh, diverse local talent and encourages local sourcing from highly-skilled potential business professionals living in areas immediately surrounding the Square Mile.
“City fringe students are talented, they have a great outlook on life and most of all they’re hungry to learn. This scheme reveals the high calibre of student on our doorstep. It adds to the diversity of our workforce and ultimately provides opportunities for increasing our talent pool.” says Sean Taylor, director, UBS Investment Bank.
“The City needs a constant stream of new working talent to maintain its position as a global centre of business excellence. Firms are aware that they need to tap into all methods of recruitment to ensure that they acquire the highest standard of graduates. This programme also provides a unique opportunity to City firms for their recruits to be brand ambassadors at university,” adds Michael Snyder, chairman of the Policy and Resources Committee of the City of London Corporation.
Candidates are drawn from schools and sixth form colleges in the City fringe boroughs, a relatively untapped area for new, talented employees. Students are assessed on the basis of their G.C.S.E. grades and then undergo an extensive interview and workshop process to prepare them for their City placements. Successful candidates are then matched to participating City firms for the final interview process.
City firms taking advantage of the scheme include financial and business service providers, domestic banking, asset management, international multimedia news agencies and law firms. Companies benefiting from the programme include UBS Investment Bank, HBOS Treasury Services, The Blomfield Group and Allen and Overy.