Post-secondary students are teaching recruiters a lesson when it comes to career decision-making factors.
A recent survey of more than 27,000 university students called, From Learning to Work 2008 conducted by DECODE and released in September reveals that students seek stability and security in their career. And, contrary to popular belief that this generation is likely to jump ship shortly after being hired, more than half of respondents (51 per cent) indicated they would like to find an organization where they could spend their whole career, indicating that stability and security are also key factors in the decision-making process.
"Students today know what they want, and are actually quite rational in selecting who they will work for, which has significant implications for companies who are looking to acquire and build a competitive advantage through people," says Eric Meerkamper, Partner for DECODE, a Toronto-based research, innovation and strategy firm which conducted the study in partnership with Brainstorm Consulting and Universum and co-authors of the report.
In fact, the top five most desirable places in which the future workforce would like to be employed following graduation aren't necessarily what many would associate as being appealing to younger generations. The top companies as rated by the entire student sample were The Government of Canada, Health Canada, Google, provincial governments and Apple.
"The brands that were chosen are considered to be authentic and innovate; part of some new and important values emerging in the workplace. All of these organizations are places that resonate as being stable and secure," says Meerkamper. "This is an important variable considering the substantial debt load many students will carry upon graduation given rising tuition costs."
Meerkamper adds that students want to work for these companies because they are seen as places for advancement and as organizations that are committed to providing their employees with work life flexibility (balance).
"They are seen as companies who have a commitment to keeping and growing their talent… this was identified as the number one influencer for making an employment decision by 56 per cent of those surveyed."
In addition to work-life balance, "good people to work with" and "a good initial salary" rounded out the top three factors used when considering full-time employment with an organization after graduation.
The list of Top Places for Gen Y to work collected from students across 50 universities and colleges in Canada . should serve as a wake-up call for HR professionals who have previously been making recruiting decisions based on faulty assumptions of this generation.
"In addition to ranking 158 of the most desireable companies to work for in Canada, this report also offers up insights into why top brands are popular with students and what they are looking for in an employer. This research also opens the door for companies to create a more attractive environment that will land tomorrow's talent," says Meerkamp.
The good news for employers is that while most respondents said they know which industry they want to work in after graduation, only 30 per cent have their minds made up about the organization they want to work for.
Other highlights included in the report
- 72 per cent of respondents would be willing to take a job that may not fit all of their requirements, but is perceived as being a good starting point for their career.
- 73 per cent would relocate from their home province for work, with Toronto and Vancouver being their top two choices for cities they would most like to work.
- Parents, significant others and acquaintances already working for a prospective employer are deemed to be the most influential contacts when making a career choice.
