Employment Branding for Generation X and Generation X
Faced with a large number of Baby Boomers retiring and smaller generations of replacement workers entering the workforce, hiring managers are voicing concern over their ability to fill vacant positions with skilled staff. In the 2007 Employment Dynamics and Growth Expectations (EDGE) Report, nine out of ten employers said finding good workers was more difficult today than compared to a year ago, and roughly the same number believe it will be equally or more challenging to recruit qualified candidates 12 months from now.
With today's shrinking labor market, it is important for hiring managers to position their company as a place where candidates want to work. This enables you to receive more attention from qualified candidates and more opportunities to fill your staff with talented employees. But branding your company requires that you really understand the candidate you are looking to attract. Two generations that make up a key part of today's labor force are Generation Y and Generation X. Knowing what it is that members of these groups are interested in helps you position your company to attract the specific candidate you need.
By examining what makes each of these generations tick and how to best reach these candidates, this white paper helps you brand your company as the "Place to Work."
Generation Y is the fastest-growing segment of the workforce and the largest generation since the Baby Boomers. This group, composed of those born between 1977 and 1994, accounts for over 70 million people in the U.S. and makes up over 20% of today's population. Generation Y not only helps fill in for the number of missing workers the Baby Boom generation is leaving behind; they also bring fresh ideas and an enthusiastic and motivated workforce.
To say that this group is in high demand in the workforce is an understatement. Employers planned to hire 19.2 percent more new graduates in 2007 than in 2005-2007, according to the National Association of Colleges and Employers. Recruiting and retaining this new group entering the workforce has already proven to be a challenge. As Generation Y is coming of age and arriving in the workplace, they present employers with new ideas about the employment experience, namely, "Why should I work for you?"
Generation Y grew up with technology and grew up playing largely by their own rules. So for your company to be intriguing to Generation Y, your brand must reflect things like flextime, tuition reimbursement for continuing education, and a relaxed work environment. Because these job seekers like to work hard and play hard, it would be beneficial for you to show that you share this idea in everything you do at your company. …