Graduate Scheme Return on Investment and Case Studies
Graduate Scheme: Return on Investment and case studies
Report shows Management Trainees generate significant returns for the NHS
The NHS Graduate Management Training Scheme generates savings per trainee in the tens of thousands of pounds, and retains more trainees than other private and public sector schemes.
Those are findings in a report published today. 'Payback – Return on Investment for the NHS Graduate Scheme' has been produced by Sonia Srutek and John Boileau of the NHS Institute for Innovation and Improvement, and is an analysis of statistical evidence and case studies. As John Boileau explains, "The report was compiled following the 2010 White Paper ‘Equity and Excellence: Liberating the NHS’ which stressed that the service must be focussed on outcomes.
"We have divided the report into two sections. The first section of the report uses NHS Electronic Staff Records to produce accurate data on the retention and progression of trainees within the NHS. Our retention rates compare favourably with other graduate recruiters, with the NHS currently retaining 97.5% of trainees after one year.”
Information and statistics produced by the Association of Graduate Recruiters have been used as a comparator, and demonstrate that the NHS retains more of its trainees at one and five years after they have moved into the NHS. Statistics also cover average and potential earnings in the first five years, and retention rates by gender and SHA region. Sonia Srutek comments, "We were pleased to discover that there is very little difference in retention between male and female trainees."
The second section of the report looks at return on investment of trainees whilst on the Scheme. It includes a number of case studies showing how trainee projects are designed to support the quality, innovation, productivity and prevention (QIPP) agenda. In one example, a trainee generated savings of £74,000 by improving systems and productivity.
As Sonia concludes, "We were aware that our trainees made a difference to the NHS organisations in which they were placed, but now we are in a position to turn anecdote into fact. We have developed a methodology which is to be used by all trainees from September 2011 to calculate exactly what their individual return for the NHS is."
Alex Bush, Head of Graduate Scheme, added "It is imperative that the Scheme can prove its value with firm evidence - this report is just the first of what will be a regular review of performance."