Sweeting - How to Catch a Rising Star: Recruiting & Retaining Young Talent
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Transcript of Sweeting - How to Catch a Rising Star: Recruiting & Retaining Young Talent
How to Catch A Rising Star
Recruiting and Retaining
Young Talent
Eve Sweeting
Outline
• Demographics
• Why Recruit the New Kids on the
Block?
• Where and How to Recruit Younger
Workers
• Benefits that X’ers and Y’ers Want
• Resources to Learn More
Demographics
Generations Now in the Workplace
• Traditionalists
• Ages 64 and Over
• 58 million
• Baby Boomers
• Ages 45 to 63
• 78 Million
• Generation X
• Ages 33 to 44
• 48 million
• Generation Y
• Ages 15 to 32
• 80 million
10%
46%
29%
15%
% in Workforce
Traditionalists
Baby Boomers
Gen X
Gen Y
Generational Uniqueness
Resource: Pew Research Foundation
Who are the Millennials?
• 21% are married (half
the % of their parents
generation)
• 34% are parents
• Unlikely to be better
off financially than
their parents (first
generation in a century)
• 37% underemployed,
18.8% unemployed
Comparison of Gen X & Gen YGen X
• Worried about
– Money/finances: 27%
– Career/job: 6%
– Family: 13%
• Social Media Use: 50%
• Sleep with their cell
phone: 68%
• Have a tattoo: 40%
• Read the paper: 32%
Gen Y
• Worried about
– Money/finances: 30%
– Career/job: 16%
– Family: 7%
• Social Media Use: 75%
• Sleep with their cell
phone: 83%
• Have a tattoo: 36%
• Read the paper: 23%
Why Recruit Gen X & Y• Well- Educated – 40% of 18-24 in college,
another 40% want to return to school
• Accustomed to diversity/integration
• Different thinkers
• Multi-taskers
• Tech savvy
• Driven by excellence
• Focused on results
• Though Gen Y is larger than Gen X, there is still expected to be a labor shortage in the next 25 years. (FutureWork Institute)
Job Postings
• Market your company like you market your product
• Provide information about your company culture and work environment
• ¾ of younger workers look at Company websites to learn about prospective employers
• Focus on leadership positions and job growth, benefits that younger workers want
Where to Recruit: Company Website
• Make your recruiting site interesting
• Make it easy to understand
– Hiring process
– Company values are
– Potential career paths
• Make it relevant
– Use real employees to
tell your story
Where to Recruit: Colleges• Florida Agricultural and Mechanical University (Tallahassee)
• Florida Atlantic University (Boca Raton)
• Florida Gulf Coast University (Ft. Myers)
• Florida International University (Miami)
• Florida State University (Tallahassee)
• New College of Florida (Sarasota)
• University of Central Florida (Orlando)
• University of Florida (Gainesville)
• University of North Florida (Jacksonville)
• University of South Florida (Tampa)
• University of West Florida (Pensacola)
How to Recruit: Colleges
• Use your current young employees to
recruit new young employees.
“Millennials are particularly peer
influenced.” – Lisa Feldman, UC Berkeley’s
Hass School of Business
• Use videos or other media that show
what life at your company is like:
Google Recruitment Video
Where to Recruit: Social Media
Nearly ¼ of younger job searchers use
social networking sites when looking for
employment.
• TwitHire.com
• JobShouts.com
How to Recruit: Social Media
• Highlight current employee achievements
• Promote job fairs
• Promote specific job openings
• Post on a specific job board on Facebook• Employment Network in Sarasota,FL has over
1,200 followers
• Employment Network in Port Charlotte/Punta Gorda is growing with almost 300 followers
• Suncoast Workforce
Where to Recruit: ReferralsIf you are looking for young professionals, the best place to start is with the YP’s currently working for you.
• Offer incentives for referrals
• Do have a group membership to the local Young Professionals Group (YPG)
• Send your young professionals to local YPG meetings to recruit
• Post job opportunities on the YPG website
• Become a sponsor of the local YPG
Retaining Young Talent: BenefitsTop Ranked Benefits
Benefit Score
Vacation/PTO 8.82
Flex Hours/
Telecommuting
8.06
Profit-sharing 7.52
Subsidized
education
7.51
Mentoring
Programs
6.41
Top Job ConsiderationsConsideration Score
Salary 9.05
Benefits 8.86
Growth
Opportunities
8.74
Location 8.44
Company
Leadership
7.95
Source: Robert Half International, What Millenials Want, 2007
Retaining Young Talent: Work Environment
• Casual
– Peer to Peer
– Access up the Organizational Chart
• Fast-paced
– Do not want to spend Time paying dues
• Flexible hours
• Telecommuting Options
• Supportive/Mentoring
• Community/Purpose Driven
Retaining Young Talent: Work Environment
Quality Ranking
Manager I respect 8.74
People I enjoy 8.69
Work/Life Balance 8.63
Socially
Responsible
Company
7.42
Nice Office Space 7.14
41%
27%
26%
4%
Dress Code
Business Casual
Jeans
A Mixture
Business Attire
Retaining Young Talent: Work/Life Balance
• Children of workaholic
parents who want a
balance
• Will check in frequently
through tech devices
• Want to work smarter
– Get things done quickly
– Use connections
– Quickly research
information
Retaining Young Talent: Affinity Groups
• 40% of the DiversityInc Top 50 companies
have generational affinity groups; 88% use
employee resource groups for recruiting
• Allstate Insurance Co. has a young
professional organization with 600-700
employees
• Gen Y likes networking with people their own
age. Growing up with social networking has
encouraged this feeling of community.
Retaining Young Talent:
Motivating & Recognizing
Motivation
• Personal fulfillment opportunities
• Career planning guidance
• Importance in the organization (not job position)
Recognition
• Continual feedback
• Praise when deserved
• Rewards in the form of time off or other benefits
Recap
• 48 Million Gen X’ers & 80 Million Gen
Y’ers
• Untraditional Recruiting Techniques
• Facebook, YouTube, TwitHire
• Untraditional benefits
• Telecommuting, Mentoring,
Affinity Groups, Personal Fulfillment
Opportunities
• Lead to an untraditional workforce
Resources
• The Pew Research Center
• www.pewresearch.org
• Robert Half International/Yahoo Hot
Jobs Study
• What Millennial Workers Want: How to
Attract & Retain Gen Y Employees
• Diversity Inc. Magazine & Website
Questions?
“Understanding Generation Y is important not just for employers. Older workers--that is, anyone over 30--need to know how to adapt to the values and demands of their newest colleagues. Before too long, they'll be the bosses.”
Read more: What Gen Y Really Wants
TIME Magazine July 5, 2007