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Employer Perceptions of Labor Market Trends When Hiring Recent College Graduates

Employer Perceptions of Labor Market Trends When Hiring Recent College Graduates. Big Country SHRM 2014. Presented by: Dr . Malcolm Coco, PHR Director of Internships College of Business Administration Abilene Christian University. Environmental Issues NACE/OOH/Recruiting Trends/Other

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Employer Perceptions of Labor Market Trends When Hiring Recent College Graduates

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  1. Employer Perceptions of Labor Market Trends When Hiring Recent College Graduates Big Country SHRM 2014 Presented by: Dr. Malcolm Coco, PHR Director of Internships College of Business Administration Abilene Christian University Big Country SHRM 2014

  2. Environmental Issues NACE/OOH/Recruiting Trends/Other • Production vs. service industry (Mexico 500K/2010) • Competition from international companies (China $0.12/hr; Mexico $5.18/day [Zone A]; $4.91/day[Zone B]) • Workforce availability/Economy 2006 • Downsizing/rightsizing • Fortune 500 survey- goal of business owners is to find, hire, and retain quality workers • Business owners want workers to begin work with minimal time for training • Everything in business can be duplicated-but… Big Country SHRM 2014

  3. Average Annual Salary Big Country SHRM 2014

  4. Unemployment Rates Big Country SHRM 2014

  5. Hiring Expectations by Region Big Country SHRM 2014

  6. Proposed Hiring Increases for 2013 OOH Big Country SHRM 2014

  7. Unengaged Workforce “76% of younger workers plan to find a new job as the economy improves.” - Harvard Business Journal 67% of workers are not satisfied with their jobs. -Gallup Big Country SHRM 2014

  8. Top Business Degrees in Demand /HR Big Country SHRM 2014

  9. Technology and The Workplace 75% of all current organizations have employees who work remotely 45% anticipate increasing that number There were 9.1 million part-time virtual workers as of October of 2012, a 300% increase in 10 years. Big Country SHRM 2014

  10. Multi-nationals Employment Employ 1 0f 7 U.S. workers Since 2000 they have Shed 2.9 million U.S. workers Hired 2.4 million workers overseas. In the next 5 years, 2 million financial services jobs will be moved abroad; in the next 15 years, 3 million service sector jobs will move overseas. Big Country SHRM 2014

  11. Where Are the Jobs Going? • 88% of firms report they got better value for their money overseas • 71% said overseas workers did better quality work Millions Big Country SHRM 2014

  12. In 2012, the U.S. was short 3 million skilled workers in the manufacturing sector alone. Unemployed - lose competency/need retraining. Big Country SHRM 2014

  13. Occupational Outlook Handbook *Note: Much faster than average growth Big Country SHRM 2014

  14. 2014 Starting Salary Offers NACE Recruiting Trends • Accounting $41,300 $44,327 • Finance $42,200 $44,605 • Marketing/Marketing Mgmt $36,400 $40,658 • Human Resource $39,430 $41,501 Big Country SHRM 2014

  15. Top 5 Key Recruiting Strategies for Employers • Campus Oriented • Internship/Co-op Programs 62% • Career Fairs 61% • Information Sessions 47% • Resume Referral 46% • Faculty Connections 41% • External Agents • National Web Sites 52% • Targeted Job Fairs 29% • General Job Fairs 28% • Ads (professional outlets) 27% • Consultants 22% Big Country SHRM 2014

  16. Intern & Co-ops Hourly Wages *National average $14.00/hr. Big Country SHRM 2014

  17. Percentage of Employers Using ‘Campus Oriented’ Recruiting Strategies (CareerLink) Big Country SHRM 2014

  18. Common Measures to Evaluate Recruiting Program • Full-time offer acceptance rate (27%) • Retention after one year (27%) • Offer rate (22%) • Retention after 5 years (21%) • Cost per hire (19%) • Intern/co-op conversion rate (17%) Big Country SHRM 2014

  19. Is Networking Beneficial? Big Country SHRM 2014

  20. Criteria For Choosing An Employer Enjoying what I do 4.8 Integrity of organization (moral and ethical grads) 4.7 (treats employees & customers with honesty and fairness) Stability (provides secure future for promotions and layoffs) 4.6 Ethical business practices 4.5 (doesn’t cut corners or break any laws) Good benefits package 4.5 Continuing education/training opportunities 4.4 Opportunity for advancement 4.4 Co-workers 4.1 Job location 4.0 High starting salary 3.9 (5-point scale, where 1 is “not at all important” and 5 is “very important”) Big Country SHRM 2014

  21. Who’s Most Helpful In The Job Search (5 point scale, where 1 is “not helpful and 5 is “very helpful”) Big Country SHRM 2014

  22. Screen Candidates by GPA Big Country SHRM 2014

  23. Employers Rate the Importance of Candidate Skills/Qualities /work ethic Big Country SHRM 2014

  24. Skills And Competencies PossessedBy The Best New Employees • Possesses energy, drive, enthusiasm and initiative • Quick learner, asks questions, rapidly adapts to the working world • Excellent working knowledge of computers; established word processing, spreadsheet, database and presentation software competencies • Good writing skills and excellent oral communication skills • Strong organizational and leadership skills • Team-spirited, understands group dynamics (Team Assign) • Willing to learn the organization’s business from the most menial tasks and starting at the bottom (Get your foot in the door) Big Country SHRM 2014

  25. Top Five Skills Employers Desire • BBA • Leadership 80% • Business Writing 76% • Business Language 72% • Organizational Behavior 72% (tie) • Business Ethics 68% Big Country SHRM 2014

  26. Internship Completion History • 1980- 3% completed internships • 2000-75% completed internships • 2010- 90% with 2/3 completing 2 or more • 60% of 2013 Recruiting Trends respondents said they would be hiring interns. • Run, don’t walk! Big Country SHRM 2014

  27. Intern & Co-op Facts • 57% of employers prefer internships/co-ops for work experience. • The average hourly wage for internships/co-ops is $14.00. • 57% of respondents on a national survey said that identifying and developing talent was the primary purpose of internships. • Over 60% of employers hosting interns last year said they were going to hire interns. Big Country SHRM 2014

  28. Ranking Of Key Candidate Characteristics Respondents were prompted to add one candidate characteristic to this list. From the responses, these characteristics were considered most frequently: ·       Communications skills (writing, speaking, listening) ·       Interpersonal skills (understand others in diverse workplace) ·       Work experience (internships andco-ops) ·       Extracurricular activities (leadership development) Big Country SHRM 2014

  29. Make Great First Impressions At Local Job Fairs and Professional and Civic Meetings • Look good on paper: • Carry multiple copies of your grammatically correct resume • Limit your resume to one page • Look professional and emphasize your skills • Make the format easy to read • “Prufread” it Big Country SHRM 2014

  30. Make Great First Impressions (Cont…) • Look professional: (head to toe) • Be Well Groomed • Dress appropriately • Dress conservatively (always safe if in doubt) • Don’t forget to shine your shoes (no flip-flops) • Non-verbal communication Big Country SHRM 2014

  31. How Looks Influence An Employer’s Opinion Big Country SHRM 2014

  32. Make Great First Impressions (Cont…) • Know how to sell yourself: • When asked: “So tell me about yourself”, have a one minute commercial ready (bump/elevator briefing) • Try it on family members, friends, or even just in front of the mirror • Be a good listener and maintain eye contact • Stay focused, provide only pertinent information, and don’t give them your life story Big Country SHRM 2014

  33. Make Great First Impressions (Cont…) • Do your research: • Have a mental list of prepared questions. Show that you are interested (could be the tie breaker) • Be prepared-leave focus on the essential job elements of the job description • Leave your pet, kids, mother, or significant other at home • Prepare for a behavioral interview Big Country SHRM 2014

  34. How To Meet Expectations and Keep Your Job Corporations are extremely sensitive to the bottom line. People are hired to produce results and to improve effectiveness and efficiency. In short, they want people who: • Share the company’s goals and objectives • Project the company’s image • Understand the company’s products, goals, markets, and customers • Are flexible and have a range of skills • Are persistent, reliable, thorough, and able to meet deadlines (my class) • Demonstrate initiative and a good grasp of what needs to be done Big Country SHRM 2014

  35. Meet Expectations (cont…) • Communicate well both verbally and in writing • Be ateam players • Stay up-to-date in their fields (Professional Organizations) • Care about quality • Leave personal problems at home • Are not overconfident, but somewhat humble • Don’t watch the clock (show up early/stay late) • Manage time smartly Big Country SHRM 2014

  36. Presented by: Dr. Malcolm Coco, PHR Director of Internships College of Business Administration Abilene Christian University Big Country SHRM 2014

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