Posts Tagged ‘recession’
Had great day today! I conducted a mini-version of my “Get A Grip On Gen Y” seminar for the Women in Business chapter of the Santa Cruz Chamber of Commerce. There were over 100 attendees and the event was held at the newly renovated Dream Inn Hotel. The meeting space had sweeping views of the beach and was amazing! All you meeting planners need to check this place out for events!
Anyway, it was a great group and we all shared a lot of laughs. I love doing presentations with people and energy like that!
Here’s the deal with the topic I’m sharing on this post: Talent Management (talentmgt.com) published an article this month about how Gen X employees are more likely to quit their job, and are searching for new ones, more than Gen Y (aka Millennials). Millennials get a bad rap for being job hoppers, but it really may be that employers need to be focusing on the retention of their Gen X talent just as much, if not MORE, than their Millennials.
The article is entitled: Consider Cost-Effective Alternatives to Retain Gen X, written by Erin Green
Here’s a brief excerpt:
Though employers are increasingly concerned about talent retention post-recession, their focus is often on retaining millennials instead of a more immediate concern: Generation X employees may already have one foot out the door.
“More than 20 percent of Generation X employees have already been looking for new employment in the past 12 months, which is the highest [amount of active job seekers] for any generation,” said Robin Erickson, a manager in the human capital practice of Deloitte Consulting LLP.
Gen Xers’ strong desire to move up to managerial positions may be the main reason for the anticipated turnover.
“Forty percent of Generation X employees cited lack of career progress as the prime motivation to switch jobs today, which is considerably higher than their survey colleagues in Generation Y [at] 30 percent, baby boomers [at] 20 percent and veterans [at] 14 percent,” said Erickson.
Deloitte will publish a report later this month – a follow-up to the July report “Managing Talent in a Turbulent Economy” – that will reveal new survey data on employee perspectives by generation and region. The data comes from a global survey of employees, covering all regions – the Americas, Asia Pacific, and Europe, Middle East and Africa.
The article continues with more interesting info, so check it out!
Bye for now,
I sent out a Tweet about this NY Times article when it first came out, but forgot to blog about it. The article “In Recession, Optimistic College Grads Turn Down Jobs”, was written by Steve Freiss, and published on July 24, 2009. It brings to light that many new (young) college grads are being picky about the entry level jobs they accept, even in this economic downturn with soaring unemployment rates, because they don’t want to settle on a job they don’t really want and/or accept lower pay based on starting salaries being reduced.
Here’s an excerpt:
…Ms. Parsons, 21, is jobless by choice. She turned down one $23,000-a-year offer to become a research assistant at a magazine because she did not want to move to Chicago and another because she did not want to work nights.
“I’m not really worried,” she said. “When the right thing comes along, I’ll know it.”
Ms. Parsons is far from the only member of the class of 2009 who is picky when it comes to employers. Job recruiters may be bypassing university campuses in droves and the unemployment rate may be at its highest point in decades, but college career advisers are noticing that many recent graduates do not seem to comprehend the challenging economic world they have just entered.
“I don’t think the students understand, I really don’t, but come September, October, when they still don’t have jobs, they’re going to be panicky,” said Clarice Wilsey, a career counselor at the University of Oregon, where just 55 employers came to a recent job fair, down from nearly 90 the year before.
Ms. Wilsey and others in her field said part of the problem stemmed from the fact that the latest graduates had spent most of their college years in a booming economy that went suddenly cold in their final academic year.
Is this Millennial (aka Gen Y) optimism going to hurt or help their young careers? If you can live at home with your folks, rent free, and don’t have a big personal overhead and your own kids to support, is “waiting out” this recession for something better while you work part-time as a food server a bad idea?
Hmmmm…tell me what you think!
Bye for now!
I was recently interviewed by Meridith Levinson, Senior Online Editor for CIO.com. She wanted to write an article on how the current recession will impact Millennial-Gen Y attitudes about employment, how they can (possibly) avoid lay-offs compared to older generations, and how they may not be prepared to handle being laid off.
My interview with her ended-up making its way into 3 different articles that she wrote related to all this (which is cool!!). Here are links to each one:
I found the topics to be interesting and she also gathered great info from other people. Thanks for the coverage, Meridith!
Here is an interesting article courtesy ofÂ Tahjia Chapman, a writer for CollegeRecruiter.com, the leading job board for college students searching for internships and recent graduates hunting for entry level jobs and other career opportunities. Â
Tahjia brings up an interesting point:Â IS a recession the perfect time to recruit entry level (Gen Y) marketing and sales talent?
Speculation surrounds the idea of recessionary recruiting for businesses all over the U.S. For instance, employers shed 63,000 jobs in February, 20,000 in March, and April’s numbers are unknown. What can employers do to counter these issues without losing key talent in their organizations? It is unknown currently, but we have a few suggestions for preparing for these types of events. Recessionary recruiting should focus on sales and marketing talent from competitors and preparation for economic downturn.
Sales and marketing are the most profitable sectors of any organization and recruiters need to consider recruiting entry level talent to increase the bottom line.
Multi-Faceted Recent Grads
Job cuts in today’s companies provide recruiters with opportunities to recruit highly talented grads with sales experience. Gen Y has entered the workforce with an aptitude for entrepreneurship and is waiting for a chance to prove their worthiness to employers. The recession has led the strongest candidates to sales positions in companies across the nation. The additional sales and marketing jobs are answers to most companies’ profit loss.. Directors of talent management should handle this responsibility in their organizations so each department remains flexible and prosperous.
With the inclusion of Gen Y, an organization recruiting talented sales and marketing grads will have a better experience during the recession.
Recruit Competitors’ Sales and Marketing Talent
Have you recruited top sales and marketing talent from your competitors? This is a risky decision to make, but it can help your company gradually rise above recession. Some recruiters may ask how or why they should consider their competitors’ talent; well, sales and marketing talent can add profits to your bottom line.
With company headcounts slashing across the nation, your sales force should be stronger than ever. Consider top performers who were discarded due to your competitors’ impulsive cutbacks. Your company can take advantage of their mistakes by acquiring these leaders to increase sales leads, generate objectives, and promotions to distinguish your company in your market.
Prepare for Economic Downturn
The economic downturn continues to effect employers just as much as employees due to post-Boomers’ focus on family and entrepreneurship, which is addressed in Recession’s Impact on the Job Market. Recession is hurting the overall optimism of 2008 graduates, but it keeps their hopes high if companies enact their workforce plans for this time of economy. The talent demands will continue to rise as more graduates enter the job market, but employers’ capability to hire is of prime factor. With this said, workforce planning is needed due to the economic downturn we have experienced the last four years.
What can you do to help your company counter recession?
You should look for the best entry level sales and marketing candidates that will stay with your company through bad times. Companies offering great benefit packages and refusing pay freezes have a greater return on their investments in Gen Y. If you want to stay ahead of the competition, remember the bottom line and the talent available.
Article courtesy of the Recruiting Blogswap, a content exchange service sponsored by CollegeRecruiter.com, a leading site for college students looking for internships, recent graduates searching for entry level jobs, other career opportunities.
Bye for now!