Tag Archives: "Job Search"

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.

The Student Employment Study

Millennial Branding and AfterCollege Release New Study on Student Employment

Their internships aren’t turning into jobs, they ignore LinkedIn
and want colleges to provide networking opportunities

Boston, MA – April 22, 2013 – Millennial Branding, a Gen Y research and consulting firm and AfterCollege, the largest online career network for college students and recent graduates, today announced a new report on how students are developing their careers while in college. The report, The Student Employment Study, shows that while 79% of students have had at least one internship in the past six months, 57% were unpaid and 76% didn’t result in a job offer. Although the majority of students believe that college prepares them for the working world, 44% of those surveyed only apply to between one and five jobs at a time. They aren’t using professional social networks, including LinkedIn, to brand and market themselves to employers either. As a result, 48% haven’t even had an interview in the past six months. In March, AfterCollege surveyed 600 of their registered college students covering a variety of U.S. colleges and universities.

Additional highlights from the report include:

1. They want colleges to offer networking opportunities. 57% of students wish their schools offered more networking opportunities to help them prepare for the working world. Students also wish their schools had more focus on learning how to get jobs over standard courses (46%) and more career fairs and alumni support (34%). Half of students either haven’t used their career services department, had a bad experience or feel it needs improvement. Overall, 73% of students feel that college has prepared them for the working world.

2. They spend their time on Facebook and YouTube, instead of LinkedIn. When asked about what social networking sites they use, 90% said they use Facebook either frequently or occasionally. 78% felt the same way about YouTube and 46% never use LinkedIn. The majority of students aren’t using FourSquare, StumbleUpon, reddit or Tumblr.

3. They don’t want to be entrepreneurs. When asked if they were interested in starting a company in the next few years, 62% weren’t interested and only 8% were very interested. Only 21% of students wish their school offered entrepreneurship courses.

4. They believe an employer’s website is most important when job searching. 70% turn to an employer’s website first and 65% speak to someone who already works at the company they are applying for. 61% attend a school career fair and 58% search an online job site. Only 26% turn to a social networking site like LinkedIn or Facebook when job searching.

5. When applying for jobs, their biggest turnoff is a lack of response from employers. 49% of students say that a company never gets back to them after they submit a resume. 26% say that the company makes it hard to apply for positions and 37% say that the most stressful part of the job application process is preparing for the interview.

Quotes:

“Students have to be accountable for their careers, prepare for the job market as early as freshman year and start building their networks because internships and resumes don’t turn into jobs anymore.”

- Dan Schawbel, founder of Millennial Branding and Author of Promote Yourself

“Finding the right job or internship is extremely important to college students. AfterCollege is committed to eliminating unemployment among college grads and we constantly look for ways to help students improve their prospects.”

- Roberto Angulo, CEO and Co-founder, AfterCollege

Contacts:

Millennial Branding (Spokesperson): Dan Schawbel dan@millennialbranding.com
AfterCollege (CEO): Roberto Angulo rangulo@aftercollege.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 AfterCollege:

AfterCollege matches college students and recent graduates with jobs and internships based on their school and major, allowing them to explore future career paths based on their qualifications. Offering 300,000 job opportunities at 25,000 employers, AfterCollege reaches students in 19,000 departments at 2,300 colleges and universities. AfterCollege’s mission is to eliminate unemployment among recent college graduates. For more information, visit www.aftercollege.com.

Despite High Unemployment Gen Y is Optimistic

My previous post established the overall characteristics of Gen Y as that of wavering loyalty when it comes to today’s job market—a market that is particularly challenging for this generation. The national unemployment rate among young adults ages 18 to 29 was about 12.7 percent in August (over 4% higher than the national average), according to nonprofit organization Generation Opportunity.

Why? Why are the Millennials so down, out and about?

Could it be that instead of unpredictable, at least a fraction of these Millennial workers are envisioning a more suitable opportunity for themselves? That instead of having trouble finding employment, some GenY workers are struggling to find meaningful employment—and are actually in the process of developing something better? For some, finding meaning means finding it on their own. Millennials crave opportunity, freedom and fulfillment.

According to The Multigenerational Job Search survey conducted by Millennial Branding and Beyond.com, survey, almost one third of all respondents have considered starting their own business instead of continuing their job search. And another study, found that the number of 18 to 29-year-olds in the process of setting up their own companies increased by 50% in the last year alone.

So Millennials want to explore the world on their own—but what does that mean? How will starting a new business affect your business? While I can understand why some management could see entrepreneurs as a direct hit to their human resource department, both leadership and team members must also consider that it’s an inevitable movement and it would prove to be much more beneficial to realize the positive picture for this relationship between entrepreneurs and corporate America.

The upside of entrepreneurs for our marketplace—

A chain reaction. The advancement caused by an entrepreneurial innovation will more than likely cause a domino effect. Advanced products and services push progression for innovation of technology and product development across industries—resulting in pioneering ideas and new advances that can ultimately benefit the entire market.

New business, new business partner. There are times that an employee might take on an entrepreneurial endeavor that creates a direct opportunity for the former employer. The previous business may provide a product or service that the new one needs in order to grow and develop.

Broader opportunity. Not only do entrepreneurial ventures have the potential to build a relationship and progress innovation, they have the potential to open up niches in the marketplace because of it. More businesses mean more opportunities to provide services to companies and individuals that are directly involved with these new, niche markets.

Finding a fit. Niches also create benefits for workers. There are a number of people currently working outside their passion or field of study. New opportunity means these companies often require new and/or specialized workers with focused skills to get the job done. Finally, that degree in Enigmatology might actually come in handy.

What are your feelings toward these benefits of entrepreneurship? What other advantages do you see as a result of GenY’s entrepreneurial search for personal satisfaction and opportunity?

- This post written by Carrie Bowe, an Intern at Millennial Branding