Securing – and retaining – great talent is just one of the challenges that companies and organisations must tackle in today’s unsettled and changeable socioeconomic landscape, with recruiting teams and hiring managers having to work harder than ever. This includes engaging and holding on to graduates and interns once they have been chosen for a company’s graduate scheme.
Those selected become part of an induction process, usually beginning at its headquarters. The duration of induction can range from four weeks to three to six months. Graduates undergo tailored programmes, rotating through different teams and departments to immerse them in the company’s culture and practices.
Accommodation is provided for the duration of the induction – so someone in the company must source and organise the graduates’ accommodation. Given that these first few weeks can set the tone for the graduate’s experience of the company, getting the accommodation right during this time is vital. So – what’s the best strategy when housing these valuable new recruits?
Sourcing Great Accommodation for Graduate Programmes: A Situ Guide
Situ has created this useful guide to help source great accommodation options for graduate programmes, but for a summary of some important steps to follow, read on!Read Full Guide
1. Essential info
Gather the basic information and metrics such as the number of graduates needing accommodation; start date; programme length; location requirements; and budget per grad, per night.
2. What’s Needed?
Next, find out the accommodation specifications, including the company policy on sharing, the standard of accommodation required, and whether studio apartments are acceptable. Do grads need access to communal areas? What’s the expected level of emergency support and safety and security requirements?
Now you can begin sourcing accommodation through various channels, using a travel management or relocation management company; or by connecting with existing providers. You can also conduct online research to find local providers or consider reaching out to an extended stay accommodation specialist.
3. Negotiating Rates and Controlling Budgets
Effective cost management is crucial. Negotiate rates carefully, ensuring transparency on all costs, such as utility bills, end-of-let cleans, damages, and commission fees. Market conditions in the chosen location will influence rate negotiations.
4. Consider different types of serviced accommodation
Serviced accommodation options include studios, one-bedroom apartments, two-bedroom apartments, and aparthotels. Each has its own unique features and benefits, catering to different needs and preferences.
5. Think about welfare and wellbeing
Consider implementing extra touches to enhance the welfare and wellbeing of your graduate hires, such as arranging a check in resource to greet each arrival, creating a guide to the local area, organising welcome events, and providing welcome packs.
6. Study price points
Please see the full guide for indicative serviced apartment rates for key global locations popular for graduate programmes. You can also think about where potential savings can be made. For example, longer stays result in lower per-night rates; multi-occupancy units are more cost-effective; cost savings can be made if the accommodation is in a secondary location, and so on.
Incorporating these strategies and exploring different accommodation alternatives can help you craft a memorable and budget-friendly experience for your graduate interns. And if we can help, don’t hesitate to get in touch with Situ’s accommodation specialists – just pick up the phone.
Don’t stress it: Situ it!