Sea ChangeNavigating the Early Career Needs of Young Professionals

Jeremy Moore

Spring Hill College

Evolution of Work

• Continuous, dramatic changes

• Reorganization of work &

performance

• Career paths to Job elements

• Hybrid workforces hard to motivate

• Desire for job enrichment

• Demand for increasing flexibility

1900’s

1920’s

1940’s

19

60

’s1980’s

Purposeful work

Coaching/Open-ended communication

Ongoing Development

Opportunities for Advancement

Increase strengths

Collaborative Assignments

Organizational Stability

Community Service & Philanthropy

Financial Security

And Then, Along

Come These People

What Makes a Generation Unique?

*Humble & Proud of it!

Silent Boomer Xer Millennial iGen

1921-46 1946-64 1965-79 1980-00 2000

Great Depression/WWII

Suburban Life

Sacrifice

Workplace Loyalty

Vaccines

Self-Discipline

Smarter*

Honest

Work Ethic

Values/Morals

Civil Rights/Moon

Landing/Viet Nam

Work Ethic

Respectful

Values/Morals

Baby Boomer

Smarter*

Technology

marginalizes

communication

Personal Computer

Challenger/Berlin Wall

Mobile Phones, MTV,

AIDS

Technology Usage

Work Ethic

Efficient

Individualists

Pragmatic/Cynical

Conservative/Traditional

Smarter*

Respectful

9.11

Community Service

Technology Usage

Music/Pop Culture

Immediacy

Confident

Liberal/Tolerant/Diverse

Smarter*

Clothes

Connected

Optimistic

ISIS/ Terror Attacks

Optimistic

High Expectations

App Life

Social Games

Digitally Connected

World

Work is an obligationWork is an exciting

adventure

Work is a difficult

challenge, contract

Work is a means to an

end, fulfillment?

Adult-olescence

Throughout history, in times of

cultural affluence, significant life

milestones are delayed. 20%

25%

30%

35%

40%

45%

50%

55%

60%

65%

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

Teen Employment

1974 1984 1994 2004 2014

Tying the…

knot so fast.

15

17

19

21

23

25

27

29

1950 1960 1970 1980 1990 2000 2010

Average Age (First Marriage)

Men Women

Following Trends

Life is predictably happening

later and later20

22

24

26

28

30

32

34

Marriage Children MedianIncome

Home

Major Life Milestones

Boomers Gen X Millennials

Evolution of Work

• Continuous, dramatic changes

• Reorganization of work &

performance

• Career paths to Job elements

• Hybrid workforces hard to motivate

• Desire for job enrichment

• Demand for increasing flexibility

1900’s

1920’s

1940’s

19

60

’s1980’s

On the Issues

Wage Expectations vs. Offers

New/Shifting Technologies

Have vs. Develop Capabilities

Access to (Continuing Education)

Lack of Long-term Employer Planning

Making up the Gaps

Purposeful work

Coaching/Open-ended communication

Ongoing Development

Opportunities for Advancement

Increase strengths

Collaborative Assignments

Organizational Stability

Community Service & Philanthropy

Financial Security

What’s Important to

Young Professionals

say organizational stability is

top priority when considering

employers88%

49%of Young Professionals report being

disengaged at work.

KEEP

CALM AND

MOVE ON

Here’s What We Can Tell Them

Be Assertive, Not Aggressive

Know your value

Recruit the recruiter

Interview for your next/second step job

Identify skills your want to develop and knowledge you want to obtain

Assess if an offer is good for your financial situation

Culture matters

Coaching or Managing

Is That Too Much,

DeVito?

The Multigenerational Workforce

Steady Retirement - 2022

Peaking Early - 2006

Early Eclipse - 2016

2.9

Boomers13.8

Gen X27.6

Millennials44.2

iGen11.5

2026 WORKFORCE

&

Employees

2.5xmore likely to commit to their

employers because they are

ChallengedIntruiged

are

by their work, compared to

having a competitive salary

The best employees are

self-motivated, coachable, &

committed to continue learning.

Rise up! Or, Maybe Just Move Over

Hire for fit, Groom for talent

• Critical for small or flat organizations, too

Onboarding into lanes is increasing in transitional environments

Coaching vs. Managing

Pay based on skills

80%of All Employers Believe that the Skills Gap is Real

Encourage Professional Development

Formal – Academic Oriented Programming,

Professional and/or Leadership Development

• Graduate/Professional Programs

• 4-year Colleges & Universities

• Community & Technical colleges

Informal – Flexible, Short- or Long-term,

Individual or Group Training, On-the-Job,

Customized, Apprenticeship

• Employer provided workshops/seminars

• Vocational schools

• Computer Vendors

• Community-based Organizations

• Industry consortiums

Speak to Circumstances

Downside of Being Most Educated

• Rising Cost of Education

• More than double CPI (260% to 120)%

• Law School Costs increased 1,000%

• First Generation to Start with

Significant Debt

• Prolonged Education cuts into

lifetime earnings

• Financial Planning Seminars

Loan Balance: $37,172.00

Adjusted Loan Balance: $37,172.00

Loan Interest Rate: 6.80%

Loan Fees: 0.00%

Loan Term: 10 years

Minimum Payment: $50.00

Enrollment Status: In Repayment

Degree Program: Bachelor's Degree

Total Years in College: 4 years

Average Debt per Year: $9,293.00

Monthly Loan Payment: $427.78

Number of Payments: 120

Cumulative Payments: $51,333.02

Total Interest Paid: $14,161.02

Early Campus Recruitment

Networking

Brand Awareness

Internships

Scholarships

Program Development

Personalized – Informative - Convenient

Evaluate your organization’s social media

Humble Brag about your employees/culture

Seek out success stories

Show community engagement

Stay connected

Know your campus resources and use them consistently

• Recruit early directly and indirectly

Best in Class Social Media

#tagme

Brand Management

Recruitment & Retention

• 45% More likely to post positions across social

media platforms, job boards, talent

communities

• 40% More likely to invest in social media and

social tools to strengthen their employer brand

• 17% More likely to identify gaps between

current workforces skills and future business

requirements

• 22% Increase training to ensure employees

have skills needed for job

Staying Engaged Pays Off

26.2%Decrease Time to Hire

11.5%Increase Revenue Per FTE

9.4%Unwanted Turnover of New FTE

12.2%Unwanted Turnover of New FTE

2.5%Increase Revenue Per FTE

3.6%Decrease Time to Hire

4.2%Decrease Time to Hire

1.0%Increase Revenue Per FTE

19.1%Unwanted Turnover of New FTE

Best in Class: Outcomes

Purposeful work

Coaching/Open-ended communication

Ongoing Development

Opportunities for Advancement

Increase strengths

Collaborative Assignments

Organizational Stability

Community Service & Philanthropy

Financial Security

What’s Important to

Young Professionals

Best In Class

Employers Young Professionals Best in Class Employers

…see a gap in job specific skills …seek ongoing learning opportunities…offer resources for employees to manage their

own professional development

…anticipate significant withdrawal or decreasing

engagement from Boomers

…look for opportunities to move out of entry-level

positions

…manage & promote lateral & advancement

opportunities to retain employees

…find identifying talent a challenge…are social media savvy and look for ways to learn

more about and interact employers

…use social media for brand management, posting

organizational developments, community

service, and career opportunities online

…want engaged employees…dislike annual evaluations and want

communication and coaching from supervisors

…are changing from a management model to a

facilitator model to cultivate growth and creativity

…desire creative, productive employees…regard work as a part of life and desire a flexible

work schedule

…recognize that getting the job done doesn’t

necessarily require a set time and location (and

extra hours)

…are concerned about employee turnover

…are concerned about saving for retirement, paying

off student loans, and look forward to settling

down

…provide the means for employees to achieve their

personal and professional goals

Primary Sources

AdeccoThe Definitive Guide to Building a Better Workforce: Lessons from Best-in-Class Companies on recruiting

and Retaining Elite Talent (2016)

SHRM Get Personal with Recruiting Outreach (2017)

War for Talent Fuels Program Hiring (2016)

Developing Employee Career Paths and Ladders (2015)

Gallup How Millennials Want to Work and Live (2016)

Wall Street JournalThe Latest Office Perk: Help Managing Your Financial Life (June 11, 2017)