Tag Archives: "Employment"

The Multi-Generational Job Search Study 2014

National Survey Finds College Doesn’t Prepare Students for Job Search 

A new study from Millennial Branding and Beyond.com reveals how personality can impact hiring and long term career prospects 

Boston, MA and King of Prussia, PA, May 20, 2014Millennial Branding, a Gen Y research and consulting firm, and Beyond.com, The Career Network focused on helping people grow and succeed professionally, today announced the results of a study entitled, “The Multi-Generational Job Search.” Following a national survey of job seekers and HR professionals, 43% of the 2,978 respondents said that “cultural fit” was the single most important determining factor when making a new hire. And while academic success was helpful, the majority of hiring managers (64%) would still consider a candidate who hadn’t even attended college.

According to the survey, the top three attributes that companies are currently looking for are: a positive attitude (84%), communication skills (83%) and an ability to work as a team (74%). However despite this need, liberal arts majors (who are historically more focused on communications) were shown to be the least likely to land a job, with only 2% of companies actively recruiting those graduates – versus 27% for engineering and computer information systems and 18% for business. Proof of this shift was evident when 49% of all generations responded that they believe there are “no jobs” out there for those with a liberal arts degree.

Based on the data, acquiring a college degree is important, but may take a backseat to an applicant’s personality. In fact, 73% of hiring managers felt that colleges are only “somewhat preparing” students for the working world. The biggest challenges facing hiring managers seem to be how the job seeker presents themselves – 36% of HR Pros reported that candidates are “unprepared” and 33% said they have a “bad attitude” when interviewing.

The survey looked at Gen Z (Ages 20 or younger), Gen Y (Ages 21-32), Gen X (Ages 33-49), and Baby Boomers (Ages 50-68). Responses were then segmented into whether the respondent was an employer, or a job seeker.

Highlights from the Employer Responses:

Cultural Fit is Key – 43% of HR professionals rank “cultural fit” as the single most important thing in the hiring process, followed by “relevant courses” (21%) and “internship experience” (13%). Only 2% ranked “GPA” as being most important in the recruiting process.

Job Boards Are Effective – 45% of HR professionals find candidates on job boards, followed by their company website (18%) and employee referrals (17%). 71% said that referral candidates get high priority when deciding whom to hire.

Employers Want Personality – The top three skills hiring managers are looking for are: a positive attitude (84%), communication skills (83%) and teamwork skills (74%). The least important skills were:  “having a global perspective” (10%) and “working virtually” (10%).

College Isn’t Everything – 64% of employers would consider a candidate without a college degree, and 65% said that where a candidate went to school doesn’t matter. 73% feel that college is only somewhat preparing students for the working world.

Employers Can’t Communicate Needs – 61% of companies said that their talent needs have changed over the past two years, but 54% haven’t communicated those changes to the student marketplace.

Students are Unprepared – 36% of respondents said they are unprepared, and 33% said they have a bad attitude when interviewing. Employers suggested candidates could stand out in the recruiting process by “learning as much as possible” about their company (57%), “bringing a portfolio” of work (15%), and “bringing a case study” showing the results from a project (10%).

Highlights from the Job Seekers Responses:

Salary & Meaningful Work Are Key – The two most important benefits all generations look for when selecting an employer are “salary” (30%) and “meaningful work” (30%). Only 10% said “healthcare benefits” and 2% said “401K” plan.

Jobs are Online – The most popular way respondents are getting jobs is through “online job boards” 28%, followed by “company websites” and “referrals” at 8%. Only 2% have gotten a job from a career fair. More Gen Y’s are getting jobs through job boards than older generations and when it came to social networks, 53% are applying to jobs through LinkedIn, followed by 19% for Google+ and 10% for Facebook.

Is College Worth It? – Although 71% of all generations pay their way through college, 31% of job seekers said that a degree isn’t worth the cost. Due to the high price of education:

  • 41% said it’s going to take 4 or more years to pay back student loans
  • 53% said that colleges should be accountable for getting students jobs
  • 33% of all generations would have rather started a business than attended college in the first place
  • 59% said that college doesn’t prepare students for the real world

Young Entrepreneurs – 65% of Gen Z and 62% of Gen Y are either somewhat interested or very interested in starting a company, versus 54% of Gen X and 40% of Boomers. Gen Y’s (47%) and Gen Z’s (60%) are slightly more likely to work at a start-up than Gen X (43%) and Boomers (45%).

Quotes:

“In the current economy, majoring in liberal arts won’t yield good job prospects so you have to pair a liberal arts degree with business courses in order to become a more appealing candidate. Students have to up their game by being prepared for interviews, presenting their best self and matching their work style with the right company culture if they want to successfully find a job.”

Dan Schawbel, founder of Millennial Branding and New York Times bestselling author of Promote Yourself

“You hire a person, not a resume – college graduates need to take this into account as they prepare for their career. Corporations are looking to make a long term hire, preferably individuals that are flexible and can work well in a team environment. It is important to study a company prior to the interview, show them your passion and present yourself in the best possible light. Recent college grads need to remember that there is still one test left – the one-on-one interview.”

Rich Milgram, Founder and CEO of Beyond.com

Contacts:
Millennial Branding (Spokesperson): Dan Schawbel, dan@millenialbranding.com
Beyond.com (Media Contact): Michael Cavacini, mcavacini@brownsteingroup.com

About Millennial Branding

Millennial Branding is a Gen Y research and management consulting firm based in Boston, Mass. Millennial Branding helps companies understand the emerging Gen Y employee by providing research, training, and advisory services. As representatives of Gen Y and advisers to management, our goal is to provide research and insights that will make you more profitable, grow your market share, help you understand your Gen Y employees, and turn you into an industry leader. As ambassadors to Gen Y, we want to give our generation a voice, support their careers, and connect them with brands that understand their needs.

About Beyond.com

Beyond.com is The Career Network focused on helping people grow and succeed professionally. By connecting job seekers and employers through 70 unique career channels and 3,000 industry and regional communities, we are changing the way job searching is done and helping people build relationships around the world. Through powerful communication tools and a personalized online Career Portfolio, members have a 24/7 online presence and access to job search functions, networking features, statistics and social and industry research. Beyond.com was named to Inc. Magazine’s prestigious ‘Inc. 500’ list and is a Safeguard Scientifics, Inc. (NYSE: SFE) portfolio company. www.Beyond.com.

College Career Center Study

Millennial Branding and InternMatch Release Study on College Career Centers

Almost 50% of students aren’t using their career centers & 64% turn to online resources instead

New York, NY – April 1, 2014 – Millennial Branding, a Gen Y research and consulting firm and InternMatch, an online platform for companies to find and hire amazing students, today announced a new report called the “College Career Center Study“. The study shows how students rate their career service centers on how they are helping them find jobs, prepare for the working world and discovering the right career path. Additionally, the study covers what career centers should offer in order to make students better equipped for the job market, including social media updates and job and internship opportunities. Between January and February 2014, we surveyed 4,150 college students and recent graduates from a diverse range of colleges and universities in America.

While almost all students (94%) think that their career service centers are necessary at colleges, almost half aren’t using their career centers and 61% say they are either never or rarely effective in helping them land a job. The purpose of career centers is to help students prepare for the real world and support their internship and job searches, but they are falling short due to few resources, not leveraging social media and lacking the staff to scale. The average ratio of students to career service professionals is 1,889 to 1 (NACE) and we found that almost a third of students in our study say that centers don’t have enough staff to support students.

In today’s economy, there’s even more pressure on schools, and their career centers, to deliver for students as both parents and students question the return on investment in higher education. Over 50% of recent grads are either unemployed or underemployed (The Atlantic), with an average student loan debt of $29,400 (CNN Money). As a result of students not getting enough support from their career centers, 64% of students are relying more on free or paid online career resources instead.

Additional highlights from the report include:

  • Career centers aren’t helping students land jobs. 61% say they are either never or rarely effective in helping them land a job.
  • They aren’t helping students find a career path. 57% of students say their career center is either never or rarely helpful in helping them figure out a career path and only 8% say they are always helpful.
  • They are accessible to students despite low staff. 64% said it’s either easy or very easy to meet with career center staff.
  • Students want career centers to help them turn their degree into a job. Students wish that their career service centers offered more internship support (68%), job postings (56%) and career classes and workshops (46%).
  • Students want centers to provide social media career updates. 83% said it would be useful if their career center provided career-related social media updates.
  • Career centers aren’t providing enough career-related events for students. 30% have either never or rarely provided regular career events where students can network.
  • Many career centers aren’t leveraging alumni contacts to help students. 29% of career centers are either never or rarely willing to connect students to alumni. Only 15% are always willing to connect students to alumni.
  • Students aren’t learning modern career skills through their centers. 49% ( almost half) are either never or rarely teaching students new professional skills like online branding.
  • Career centers could do a better job of connecting with students on campus. 32% say that their career centers are either never or rarely effective in communicating with them on campus.

Infographic:

 

 

 

 

 

 

 

Quotes:

“If we want to address student unemployment and rising debt we need to invest in our career centers.  Tech savvy millennials know how to find and apply to jobs online, but they need direct advice on how to develop professional skills and navigate the changing job market. Our data found that only 8% of students said their career center was always helpful in this area—a big opportunity for improvement. ”

- Nathan Parcells, Founder and CMO, InternMatch

Since career services isn’t equipped with the resources and capabilities to serve students, students are seeking third party sources in order to develop their careers while in college. Students think their career centers are important  but they need to provide more internship opportunities and help them to secure jobs. If colleges don’t start investing in their career centers, or implement a career curriculum, to serve students, placement rates will decline and students will go elsewhere.”

- Dan Schawbel, founder of Millennial Branding & New York Times bestselling author of Promote Yourself: The New Rules For Career Success

Contacts:

Millennial Branding: Dan Schawbel, dan@millennialbranding.com
Internships.com: Nathan Parcells, nathan@internmatch.com

About Millennial Branding:

Millennial Branding is a Gen Y research and management consulting firm based in Boston, Mass. Millennial Branding helps companies understand the emerging Gen Y employee by providing research, training, and advisory services. As representatives of Gen Y and advisers to management, our goal is to provide research and insights that will make you more profitable, grow your market share, help you understand your Gen Y employees, and turn you into an industry leader. As ambassadors to Gen Y, we want to give our generation a voice, support their careers, and connect them with brands that understand their needs.

About InternMatch:

InternMatch is an online platform that connects students with amazing companies and helps companies hire amazing students. InternMatch works with millions of students, over 1,000 universities, and thousands of employers including Facebook, Zappos, CBS Interactive and more. InternMatch’s Campus Hub product helps employers build an online brand for students through rich content like video and pictures as well as expand their recruiting reach to more campuses.

The High School Careers Study

Millennial Branding and Internships.com Release First Ever Study on High School Careers

50% of companies are creating high school internship programs this year
and high school students are now more career focused than college students.

Boston, MA – February 3, 2014 – Millennial Branding, a Gen Y research and consulting firm and Internships.com, the world’s largest internship marketplace, today announced a groundbreaking new study called “High School Careers“. The study shows the importance of career development activities, such as internships and volunteering, for high school students who want to get into better colleges and find future employment. From both the student and corporate perspectives, the study examines why students are focused on their careers, what professional activities they are participating in, their entrepreneurial ambitions, and how they search for internships. It also discusses the criteria that companies are using when recruiting and the importance of high school internships when it comes to college admissions and employment. A total of 4,769 students (172 high school students and 4,597 college students) and 326 employers from across the country were surveyed on January 16th, 2014.

Half of employers are either currently accepting applications from high school students for internships or plan to this year, and nearly half of high school students are participating in internships for the purpose of advancing themselves professionally in high school. 60% of companies agree that students will need to begin to focus on their careers in high school in order to compete for internships and jobs in the future. 90% of companies agree that high school internship programs can help students get into better colleges, 89% say they’ll have a competitive advantage when looking for a college internship or full-time job, and 83% said those internships will yield better paying jobs.

Additional highlights from the report include:

  • Parents are pushing their children to focus on careers during high school but they aren’t helping them out. 55% of high school students (57% of college students) say that their parents are putting pressure on them to gain professional experience during high school and 42% (30% of college students) say they are under pressure because of the economy. 54% of high school parents, and 52% of college parents, haven’t helped their children get work experience during high school.
  • High school students are more willing to volunteer than college students. 77% of high school students are either extremely or very interested in volunteering to gain work experience compared to 63% of college students.
  • High school students are more entrepreneurial than college students. 72% of high school students and 64% of college students want to start a business someday. 61% of high school students and 43% of college students would rather be an entrepreneur instead of an employee when they graduate college.
  • The top three things that high school students are looking to get out of internships are new skills (92%), work experience (81%) and mentorship/networking (72%). The top three things that college students are looking to get out of internships are work experience (89%), new skills (85%) and job offers (72%).
  • The top qualities that companies are looking for when recruiting high school students are their interview performance (50%), a high academic performance (41%) and references (36%). Half of employers say that the reputation of the high school matters when recruiting students for their programs.
  • The top reasons why companies are offering high school internships are to support local high schools (46%), gain new ideas (23%) and to find future college interns (18%).
  • High school internship programs center around social media. 73% of high school internships focus around social media marketing projects, following by data entry (41%) and admin work (36%).
  • Companies surveyed say that high school internships turn into college internships and jobs. 70% of companies say that high school students who complete their programs are either very or completely likely to eventually land a college internship with their company. 45% that high school internships will very likely or completely likely turn into a full time job at their company.

Quotes:

“In today’s economy, students have to start building their careers in high school in order to better compete in the college admissions process, for college internships and eventually full-time jobs. Employers who offer high school internships will build brand awareness early, fill up their talent pipelines and be able to remain competitive in their marketplace.”

- Dan Schawbel, founder of Millennial Branding & New York Times bestselling author of Promote Yourself: The New Rules For Career Success

“High school internships are a win-win for both employers and students,” said Robin D. Richards, Chairman and CEO of Internships.com.  “For students, work experience is the key to ensure they make a good career decision and build their professional network.  By employing students, companies get exposure to talent early in their career journey and help support the well being of the local community.”

- Robin D. Richards, CEO, Internships.com

“Maximizing Return On Education for students requires not only a school recommendation engine that incorporates personalization, predictive modeling, and specific economic projections for graduates, but also a clear path to connecting that personalization and matching process to summer jobs and internships.  The sooner that students can leverage employment opportunities related to their field of study, the more likely they will be to complete their degree and find a relevant career opportunity post graduation.  This tailored matching activity throughout the higher education lifecycle will also optimize their student loan payback – a major hurdle to overcome on their life path post completion.”

- Brad McMahon, the SVP of Business and Product Development at +U, an Internships.com Partner

Contacts:

Millennial Branding: Dan Schawbel, dan@millennialbranding.com
Internships.com: Yair Riemer, yriemer@careerarcgroup.com

About Millennial Branding:

Millennial Branding is a Gen Y research and management consulting firm based in Boston, Mass. Millennial Branding helps companies understand the emerging Gen Y employee by providing research, training, and advisory services. As representatives of Gen Y and advisers to management, our goal is to provide research and insights that will make you more profitable, grow your market share, help you understand your Gen Y employees, and turn you into an industry leader. As ambassadors to Gen Y, we want to give our generation a voice, support their careers, and connect them with brands that understand their needs.

About Internships.com:

Internships.com — a CareerArc Group company — is the world’s largest internship marketplace bringing students, employers and higher education together in one centralized location. The innovative, Los Angeles based company, develops a wide variety of interactive, world-class tools and services to enable every student, employer and educator to better understand and optimize internship opportunities. For additional information, please visit www.internships.com. For tips on finding internships, hot internship listings and internship advice, follow Internships.com on Twitter (www.twitter.com/internships) or Facebook (www.facebook.com/internships.com).

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