Summit on Youth in NS Economy

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The Greater Halifax Partnership presented at the Students Nova Scotia 'Summit on Youth in NS Economy' on March 20, 2014.

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Summit on Youth in NS Economy

  1. 1. WHAT DO NS EMPLOYERS WANT IN RECENT GRADUATES? Presented by Robyn Webb to the Summit on Youth in the Nova Scotia Economy
  2. 2. DATA SOURCE • Based on results from the Young Professionals Employment Survey • A survey of 364 responding employers in HRM conducted in December 2012 and January 2013 • Conducted by GHP in partnership with Fusion Halifax and Clear Picture • 92% of all respondents had input into the hiring of new staff, with 73% in top management positions • Responding firms varied broadly in industry, size, and average age of workforce
  3. 3. HOW LIKELY ARE EMPLOYERS TO HIRE YOUNG PROFESSIONALS?
  4. 4. 61% 28% 4% 3% 3% 0% 10% 20% 30% 40% 50% 60% 70% Very Likely Likely Unlikely Very Unlikely Not Sure/Don't Know Likelihood of Hiring Young Professionals in the Next Five Years
  5. 5. 61% 19% 5% 14% 0% 10% 20% 30% 40% 50% 60% 70% 1 to 5 6 to 10 11 to 19 Over 20 Quantity of Potential Young Professional Hires in Next Five Years
  6. 6. WHAT ARE EMPLOYERS LOOKING FOR WHEN HIRING YOUNG PROFESSIONALS?
  7. 7. 4.7 5.1 5.9 6.6 6.6 7.6 7.6 8.9 9.2 0 2 4 6 8 10 Minimal requirements for time off Willingness to work long hours Available to work evenings or weekends Salary expectations Referrals from friends or colleagues Previous work experience Education Can be counted on for excellent results Enthusiastic attitude about their work Average Rating of Important Factors in Hiring Young Professionals
  8. 8. Benefits of Hiring Young Professionals Energy and enthusiasm, 32% Finding future leaders of the organization, 23% Savvy with new technology, 13% They have fresh ideas, 12% Potentially easier to train, 9% Other, 5% Networking connections to a younger cohort, 4% Few existing loyalties, 1%
  9. 9. This tells us that employers are looking for young professionals that are: • Enthusiastic and positive about their work • Dependable to get the job done • Have the required technical or “hard” skills • Have “soft” skills as well
  10. 10. EXPECTATIONS OF STARTING SALARIES
  11. 11. 4% 39% 40% 13% 3% 1% 0% 0% 5% 10% 15% 20% 25% 30% 35% 40% 45% <$25k $25k-$35k $35k-$45k $45k-$55k $55k-$65k $65k-$75k >$75k Average Employers Perceptions of Reasonable Starting Salaries
  12. 12. 0% 2% 12% 21% 22% 21% 23% 0% 5% 10% 15% 20% 25% <$25k $25k-$35k $35k-$45k $45k-$55k $55k-$65k $65k-$75k >$75k Average Employers Perceptions of Reasonable Salaries for Person with Ten Years of Experience
  13. 13. Industry $26-$35K $36-$45K $46-$55K $56-$65K $66-$75K Government/Public Sector ● ◊ Finance/Accounting ● ◊ Manufacturing ● ◊ Health Care ● ◊ IT ● ◊ Education ● ◊ Consulting ● ◊ Average Employers Perceptions of Reasonable Starting and Ten-year Salaries for Select Industries ● =Salary Range for Entry-Level Position ◊=Salary Range for Person with 10 Years of Experience
  14. 14. HOW ARE EMPLOYERS GOING ABOUT LOOKING FOR YOUNG PROFESSIONALS?
  15. 15. Recruiting Methods Which do you regularly use as part of your hiring process? Which do you have the most success with? 2013 2013 Networking/Word of mouth 81% 35% Paid Advertising (print, web, radio) 60% 24% Social Media (Facebook, Twitter, LinkedIn) 45% 4% Co-ops and internships 43% 9% Recruiters 33% 7% Campus Recruiting 28% 5% Succession Planning 26% 2% Local Employment Office 20% 4% Other 15% 9% Which Recruiting Methods do Employers Use in Their Hiring Process?
  16. 16. TIPS FOR SUCCESS
  17. 17. • Build your network o Many opportunities are not posted or advertised o Building a network will help to ensure word of mouth opportunities make their way to you • Your cover letter and resume should communicate your enthusiasm, dependability, hard and soft skills o Resume and cover letter should be well researched and customized for each application o Should address all of the requirements in the job posting
  18. 18. QUESTIONS?

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