5 ways to help Gen Y achieve career fulfillment
On average, Gen Y employees leave a company after 2 years of employment. The reason has less to do with pay and more to do with job fulfillment. New research has unveiled that a Gen Y’s “belief in the firm’s economic or social purpose, and pride in the organization and its work, had a strong correlation with staying at a company.”
Here are 5 things employers can do to help Gen Y achieve greater career fulfillment at work:
1. Set expectations – tell Gen Y what they need to do in order to advance. Showing them the “path to success” expresses you interest in wanting them to stay long term at your company.
2. Mentor them – give them career advice so they feel like you care. Taking the time to mentor Gen Y sends the message that the company is investing in them.
3. Explain positive impacts of their work – Gen Y feels fulfilled when they know they are making a difference. After a project is completed, take the time to explain how the result helped the company.
4. Give them access – provide access to executives. Gen Ys want to network with people who can have a positive influence on their careers.
5. Allow them to pitch ideas – engage Gen Y by enabling them to pitch their business ideas to you. This will help Gen Y feel less ignored at work and make them want to stay at your company.
Article | Dan Schawbel Blog
News Date: January 23, 2013
U.S. survey reveals heightened expectations that a degree with provide economic security
Findings of the 2012 Freshmen Survey revealed that first-year students are “focused on the future.” 88 percent of students surveyed said, “the ability to get a better job was a very important reason to go to college.” Students also want to earn a better living, nearly three in four students said the ability to “make more money was a very important reason to go to college.” Survey findings indicate that more students are putting an even greater value on job-related reasons to attend college, which could be a direct result of the tight economy.
Article | The Chronicle of Higher Education
News Date: January 24, 2013
Global economic slowdown has diminished labour market prospects for youth
About 73.8 million young people are unemployed globally and by next year that number will grow by another half a million. More than a third of young people have been without work for half a year or longer and a growing number are becoming discouraged and leaving the labour market. The annual study of global employment trends by the International Labour Organization highlights a number of shifts in the labour market including the worsening labour market mismatch, gradual decreases in labour participation as more workers get discouraged and youth being hit the hardest as “many experience long-term unemployment right from the start of their labour market entry, a situation that was never observed during earlier cyclical downturns.” Compared with most other countries, Canada’s labour market put in a strong performance last year.
Article | The Globe and Mail
News Date: January 22, 2013
Appealing to the Gen Y workforce: A job seeker’s perspective
I’ve noticed that students can be fairly selective when applying for co-op opportunities. With a number of great companies offering great jobs to upper year students, these are a few recommendations to employers looking to appeal to the Gen Y workforce. Some of the most trustworthy information about a co-op experience comes from our peers. Students tend to speak candidly about how enjoyable or enriching their work term was with a particular employer. Companies that strongly engage their co-op students by providing opportunities to expand and develop their skill set within a strong social environment will significantly enhance the student’s work experience. Training programs and other perks, such as offering flexible hours, social events, or ownership over special projects keeps students engaged and motivated and will have students returning to campus with positive things to say about your company.
Grace Wong is a 3rd year Arts & Business Co-op Student at the University of Waterloo. She participated on the Student Panel at the Waterloo Campus Recruiting Forum in December 2012.