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Dr. Philip GardnerCollegiate Employment Research Instituteceri.msu.edu
Today’s Agenda
• Overview of the College Labor Market– Snapshot of past three years– Focus on this year
• The transition into the workplace– All about skills
• The gatekeeper: internships• Workforce readiness project for the BV
A REVIEW OF YEARS PASTIt’s was a very good year – except still not enough jobs
Highlights from 2010-2011
• Strong group of outliers: big & small
• No tail: clustered around no change
• All majors in play
• Tech fields slow; marketing & sales
• West lagged behind
Highlights from 2011-2012
• Broad and deep
• All Majors: major influence
• Sectors: Government down and manufacturing sliding
• Size: David and Goliath
SETTING THE STAGE FOR 2012-2013
Macro & Micro Events
• Big Events– European slide– China: internal adjustments– Energy: US back in the game– Inflation
• Fiscal Cliff• Micro events– Jobs– Consumers– Supply: too many
THE YEAR 2012-2013
Sitting On the Fence
• Winners– Hospitals– Health care– Construction: Home– Construction:
Infrastructure– Alternative energy
• Losers– Big Banks– Coal– Big Energy– Defense contractors– Luxury Goods Retailers– Casinos
Obstacles in Reaching Hiring Targets
– Budgets and staffs– No short term plans &
lack of support from the top– Competition– Students • You have met Emmie!
– Career Services
N-S-E-W
• Direction hiring is expected to take– Big shift from last year– Employer outlook continues to improve– My grass is greener than your grass!– Only 24% with definite plans (last year 42%)– 45% will increase the number of Bachelor
hires this year – stays about the same
Hiring Targets: 2012-2013
Projections for 2012 -2013
DegreeNumber Of Employers Reporting
Average Number Of
Hires(2012)
Average Number Of
Hires (2013)
Change Year Over Year
(%)
Associate’s 667 7.6 10.2 31
Bachelor’s 1,931 22.2 23.3 5
MBA 517 5.8 5.1 -6
MS/MA 716 10.3 10.2 -1
Ph.D. 238 4.6 5.0 8
Professional 168 15.5 14.7 -4
Total Hires 2,057 33.4 34.4 3
Good News: In Certain Places
• Organizational Size– Thanks for the little guy– Middle holds– Large companies sitting on the fence
• Economic Sector– Leading the charge: Oil, Financial Services,
Wholesale, Construction, Retail, Transportation– Falling behind: Utilities, Ag (short-term),
Information Services, Manufacturing, Health
Majors
• Soft: – Engineering: electronics, fabricated metals,
military segments– Accounting: CPA firms decrease – Computer Science: market reality
• Strong: Finance, Marketing, Supply Chain, HR, Adv-PR-Communication (sales)
• Keeps rockin’: All majors
24%
17%
7%6%8%
11%
26%Education & Health ServicesLeisure & HospitalityFinancial ServicesRetail & WholesaleConstructionOtherProfessional & Business Services
Mark Zandi’s Job Growth Projections
Starting Salaries• What’s not in your wallet?– Not much: 75% not increasing
salary– 5% indicated they are offering
signing bonuses– Nearly 20% have some type of
performance bonus– Slight rise in commission based
salaries– Health care coverage in lieu of $$$$
Key Recruiting Strategies
• Internships• Career Fairs– Mostly for finding interns
• Alumni from target schools (Bronco network)
• Social media
Internships
• Primary purpose– Full-time employment
• Golden Goose still laying eggs– 65% seeking internships– 17% seeking co-ops– 33% offering summer positions with pay
• Unpaid situation– Many with unpaid are motivated to help
profession or social responsibility
Handling the skills shortage
• Training• Technology (the next tragedy)• Recruiting (the new time dimension)
Critical Issues
• Faculty• Skills• Attitudes and Behaviors
Employers’ Takes on Academia
Academic professors do not understand the critical business skills needed and provide poor
counseling/advice to students.
…many new grads are having difficulty articulating the relevance of their study to the job they have
applied to.
Employers’ Takes on the Skills Gap
We need people who know how to use Excel and other professional programs,
write professional documents, communicate in a professional manner,
and have a basic knowledge of how a professional organization acts
Employers’ Takes on Attitude
There is an overinflated sense of self and abilities…
College students have an attitude of entitlement that they are owed a job, and it should be at a specific dollar
amount, even though they do not have a basis for that dollar amount.
Many candidates don’t project that they are interested, optimistic, and want to help the company succeed.
[We have] retention issues because candidates resign due to business challenges being more than they expected or
are willing to try to accomplish.
The Transition 1950 to 1989
• No experience necessary• Tenure in 1st position: 4
to 5 years• Companies did most of
the training• 65% of college hires with
Fortune 500• Legacy system for
recruiting and accountability
The Transition Since Early 1990s• Experienced required• Tenure in first position 12 to
24 months• Most organizations provide
little or no training• Skills & expectations have
soared (employers)• 35% to 40% of college grads
hired by Fortune 500• Still rely on legacy practices
and accountability measures
Benchmark: 12 Essentials
• Developing professional competencies
• Communicating effectively
• Solving Problems• Balancing Work and life• Embracing Change• Working Effectively in a
Team
Working in a Diverse Environment
Managing time and priorities
Navigating across boundaries
Acquiring knowledgeThinking CriticallyPerforming with
integritywww.careernetwork.msu.edu
(click on resource guides)
The Higher Standards
◦ Initiative: The Holy Grail◦ Build and sustain professional relationships◦ Analyze, evaluate and interpret data ◦ Engage in continuous learning ◦ Communicate through persuasion and justification ◦ Plan and manage a project ◦ Create new knowledge◦ Seek global understanding◦ Mentor and develop others◦ Build a team
Paper is available at www.ceri.msu.edu (check under paper archives)
Case study: Boise – Top Skill Cluster
• Able to perform with integrity• Able to solve problems• Able to manage time and priorities• Able to take the initiative• Able to analyze, evaluate, and interpret
information• Able to contribute to a team• Able to effectively communicate orally• Able to build and sustain working professional
relationships
Case study: Boise – 2nd Cluster
• Able to embrace change.• Able to acquire knowledge• Able to manage and synthesize different sources
of information.• Able to effectively communicate through writing• Able to create original ideas and innovations (be
innovative).• Able to plan and manage a project• Able to develop further professional
competencies.
Case study: Boise – Top A&B
• Takes responsibility and is accountable for work and behavior (accountable)
• Demonstrates a strong work ethic (work ethic)
• Displays sound judgment and controls feelings/emotions in work situations (maturity)
Case Study: Attitudes & Behaviors II
• Works with limited direction (self-directed)• Cooperates with co-workers in a respectful,
sincere manner (humility)• Conveys passion for work and career
(passion)• Functions effectively in an ever changing
environment (adaptable)• Completes assignments and other
commitments punctually (punctual)
WORKFORCE READINESS PROJECT
Phase II & III
• Phase II: BSU Alumni– Career Progress– Skills & Competencies for Success– Preparedness
• Phase III: BSU Current Students– Career Aspirations– Employer Expectations: Skills & Competencies
Preliminary Results: Phase II• Top Skills: 1st Position
– Able to manage time and priorities
– Able to perform with integrity.
– Able to effectively communicate orally
– Able to solve problems.– Able to think critically.– Able to acquire knowledge– Able to take the initiative– Able to analyze, evaluate,
and interpret information
• Top Skills: Current Position– Able to manage time and
priorities– Able to take the initiative– Able to effectively
communicate orally– Able to solve problems– Able to think critically– Able to acquire knowledge– Able to perform with
integrity– Able to analyze, evaluate,
and interpret information
QUESTIONS & THOUGHTSTime to share
ceri.msu.edu