What Is the Newest Generation of Talent Looking For?
Hello hello and welcome back to the Recruitonomics Newsletter! This week, our Universum colleague Nicolas Werle highlighted some key takeaways from a recent survey of American college graduates. What does this newest generation of talent want from their careers, and where do they most want to work? Read on to find out!?
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This Week on Recruitonomics:?
Where American College Students Want to Work
In Universum’s survey, American students have the chance to share which employers are most attractive. The rankings are divided between different fields of study to account for the differing appeals of students pursuing different education backgrounds. Students are first asked to select which companies they would consider working for from a relevant list of employers pertaining to their field of study. And then from those selections, they are asked to choose up to five employers they view as their ideal employers. The most recent results were collected from September 2022 to March 2023 and show which employers American college students have set their eyes on as dream employers for 2023. Exciting tech companies, mainstay banking institutions, instantly-recognizable aerospace names, and more made the list this year. Is your company one that business, computer science, and engineering students are clawing to work at??
Read the full article here .
What does this mean for recruiters??
Looking at this list underscores the importance of creating a recognizable and attractive corporate brand. The top places to work are instantly identifiable because of their strong corporate brand strategies: Discovering your own brand identity and how to position it is necessary in attracting top-tier talent.?
What American College Students Want from Their Careers ?
Knowing where new talent wants to work is all well and good, but discovering how these students want to work is quite another. In recent years, it has become obvious that Gen Z students have different career aspirations than their parents and grandparents. These results, however, show that recent grads, at the end of the day, just want to be comfortable: The most sought-after job attributes are good pay and job security. With high inflation and reports of mass layoffs in the past year, these two preferences make obvious sense. But the future of talent is also clear that work-life balance and flexible conditions are a priority, too. These workers expect a lot from their future careers.?
Read the full article here .
What does this mean for recruiters??
Recruiters need to understand the talent they are recruiting for. If you’re looking to hire recent graduates, knowing what they value can help you to position your job ads correctly. For instance, this class of graduates cares deeply about salary: Including pay in your job ad could spark their interest and entice them to apply.?
Recruiting Tips:?
Attracting recent graduates can come down to the strength of your employer brand, but how do you ensure your brand attracts the right candidates? The employers on the top of Universum’s rankings have perfected their employer brand recognition, so naturally students fresh out of school would recognize and want to work for them. Discovering how to position yourself as a brand should be top of mind when planning out employer brand strategy. Who are you as a brand? What does your organization value, what are your business goals, and how will you improve the lives of your customers, partners, and employees?
Coming up with a positioning strategy may seem like a daunting task, and for more complex organizations, it might be. But having unique positioning is vital for the success of any business looking to attract customers, drive revenue, and bring in top-tier talent.
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Discover how to position your brand the right way by visiting our Appcast blog Employer Brand Examples: Positioning & Taglines. ?
Recently on Recruitonomics:
The United Kingdom had an impressive vaccine rollout in 2021: More than 260 vaccine doses were administered per 100 people, meaning most adults have at least one booster. Thanks to these efforts, the COVID-19 pandemic has been declared over. Despite this new reality, excess deaths in the U.K. remain dangerously elevated – but what is causing this increase in deaths if not a pandemic? The dire state of national healthcare. The pandemic completely overloaded the National Health Service in the U.K. and it hasn’t improved since. In fact, waitlists are now at record lengths – the median wait time for a referral is over 14 weeks and the total number of people on the waitlist increased from 4 million pre-pandemic to over 7 million today. The NHS is stretched so thin that it’s putting their patients’ lives at risk. The failure of the NHS is also negatively affecting the British economy and labor market. The number of people who are out of the labor force for long-term health reasons – meaning they are not working or looking for work – has increased by 25% from about 2 million pre-pandemic to a record high of 2.5 million this spring!?
Read the full article here .
What Recruitonomics is Reading:
Ronan McCooey curated this section.?
Acemoglu, Autor, and Patterson released a working paper in July providing a new perspective on the phenomenon of U.S. productivity slowdown since the 1970s. The authors seek to explain how it is that we have experienced a technological revolution since the 1970s, but aggregate productivity (the amount of output per worker) growth in the United States has actually slowed. They believe that the root of this paradox could lie in asymmetrical innovation across industries. As any one industry is reliant on inputs and ideas from others, it cannot reap the full productivity benefits of its own innovation without complementary innovation from its supplier industries. It is an interesting idea that the authors put forward and they use the term “bottleneck” to describe incidences of this effect. Their claim is that, while there were huge innovations in information and communications technology over the last 50 years, productivity growth was unaffected because of bottlenecks which arose when other sectors did not advance at the same pace.?
This begs an interesting question going forward: If research & development is spread more evenly across industries in the future, can the “bottlenecks” that exist in the innovation space be resolved, and productivity accelerated? And will this be the solution to the labor shortages that are loitering in the economy? The analysis from Acemoglu, Autor, and Patterson could easily be used to make that case.?
More Data & Insights:
Thank you for reading! Stay tuned for next week's Recruitonomics Newsletter and check out Recruitonomics.com for more data-driven insights.