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Employer Perceptions of Labor Market Trends When Hiring Recent College Graduates Presented by: Dr. Malcolm Coco, PHR Director of Internships College of.

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Presentation on theme: "Employer Perceptions of Labor Market Trends When Hiring Recent College Graduates Presented by: Dr. Malcolm Coco, PHR Director of Internships College of."— Presentation transcript:

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

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

3 Average Annual Salary Big Country SHRM

4 Unemployment Rates Big Country SHRM

5 5 Hiring Expectations by Region

6 Big Country SHRM Proposed Hiring Increases for 2013 OOH Economics22% Marketing21% Human Resources20% E-commerce/Entrepreneurism18% Accounting17% Finance15% Management Information Systems14%

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 20147

8 Top Business Degrees in Demand Big Country SHRM /HR

9 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 Technology and The Workplace

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. Big Country SHRM 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.

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

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

13 Occupational Title2022 Change: Human Resources, training, and labor relations managers and specialists 1,102,30022% Human resources managers146,80010% Human resources, training, and labor relations specialists955,50024% Employment, recruitment, and placement specialists265,90028% Compensation, benefits, and job analysis specialists150,60024% Training and development specialists267,10023% Human resources, training, and labor relations specialists, all other 271,90021% Big Country SHRM Occupational Outlook Handbook * Note: Much faster than average growth

14 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 Starting Salary Offers

15 Campus Oriented –Internship/Co-op Programs62% –Career Fairs61% –Information Sessions47% –Resume Referral46% –Faculty Connections41% External Agents –National Web Sites52% –Targeted Job Fairs29% –General Job Fairs28% –Ads (professional outlets)27% –Consultants22% Big Country SHRM Top 5 Key Recruiting Strategies for Employers

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

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

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

19 Big Country SHRM Is Networking Beneficial?

20 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 Criteria For Choosing An Employer

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

22 Big Country SHRM Screen Candidates by GPA

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

24 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 Skills And Competencies Possessed By The Best New Employees

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

26 % completed internships % completed internships % 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 Internship Completion History

27 Intern & Co-op Facts 27 57% of employers prefer internships/co-ops for work experience. The average hourly wage for internships/co-ops is $ % 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 and co-ops)  Extracurricular activities (leadership development) Big Country SHRM Mean% Rated 1 or 2 Experience Academic Major Leadership Experience Grade Point Average Basic Computer Skills Technical Computer Skills4.6914

29 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 Make Great First Impressions At Local Job Fairs and Professional and Civic Meetings

30 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 Make Great First Impressions (Cont…)

31 No InfluenceSlight InfluenceStrong Influence Grooming7%23%70% Non-traditional Interview/Attire 13%38%49% Non-traditional Hair Color 27%41%32% Body Piercing25%43%32% Handshake28%44%28% Obvious Tattoos24%48%28% Unusual Hairstyle33%45%22% Earring (male)49%37%14% Beard (well trimmed)78%19%3% Mustache88%11%1% Big Country SHRM How Looks Influence An Employer’s Opinion

32 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 Make Great First Impressions (Cont…)

33 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 Make Great First Impressions (Cont…)

34 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 How To Meet Expectations and Keep Your Job

35 Communicate well both verbally and in writing Be a team 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 Meet Expectations (cont…)

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

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