The newly published 2009 Universum Students report reveals some key findings; here I would like to highlight some trends and conclusions:
- Foreign companies are losing attraction among graduates, state owned companies and government is increasing their importance. The trend is overwhelming and unchangeable. This is partly because state owned companies and government are perceived to be employers who can provide work/life balance, secure employment - factors student value the most. This is also a result that quite many foreign companies applied hiring freeze policy due to financial crisis. Small number of hiring available turn down majority of students looking for job
- Work/life balance and to be manager or leader of people are top chosen career goals of students. State owned companies are taking advantages of providing work/life balance, and in general students who prefer state owned companies think there is more career advancement opportunities here than in foreign companies who are famous of their “glass ceiling”. Google e.g. is famous for its work/life balance (comfortable office environment, free food, gyms etc.) and P&G e.g. built from within tradition (all managers promoted from within).
- The most preferred channels amongst students are: Acquaintances employed by the company/organization, Employer presentations on campus, Internship/co-op programs/work placement. However, on the company official websites, there usually has no enough information talking about the TOP 10 attributes student think the most important about their ideal employers. Acquaintances and interns are two major word of mouth channels need to be strengthened.
- 2009 Top 10 - Overall most important attributes:
1. Good prospects for high future earnings (Remuneration & Advancement Opportunities)
2. Professional training and development (Job Characteristics)
3. Good reference for future career (Remuneration & Advancement Opportunities)
4. Offers a friendly work environment (People & Culture)
5. Will enable me to have good work/life balance (People & Culture)
6. Has leaders who will support my development (People & Culture)
7. Leadership opportunities (Remuneration & Advancement Opportunities)
8. Challenging work (Job Characteristics)
9. High level of Corporate Social Responsibility (Employer Reputation & Image)
10. Good reputation (Employer Reputation & Image)
* Good reputation has dropped from No. 6 (Year 2008)to No. 10 (Year 2009), which indicates students’ employer preferences are moving towards a more rational direction and a great name doesn’t
necessarily mean all people will join you. Gen-Y grows in an information explosion era, they get access information through internet to tell the truth beneath fancy brand packages. To this
generation, word of mouth is much more effective marketing tool than huge branding campaign.
*. High level of Corporate Social Responsibility has been paid more and more attention by students, which means the linkage between CSR and recruitment results is becoming tighter.
