In a new article from our board member, Steven Hunt, he talks about the challenges of keeping your selection standards high when the labor market is tight. He discusses the downside of lowering the bar to increase your applicant pools – increased turnover, decreased morale, lower productivity – and suggests a number of strategies to avoid the adverse consequences of lowering the bar for incoming talent.
While many organizations are competing for talent, one desirable population, the Millenials, may be underlooked. In a recent BusinessWeek article about the importance of the youth vote this election year, our board member Jared Bernstein is cited as saying Millenials “start lower and grow slower” than their parents did when it comes to employment opportunities in the US as many former middle class jobs have shifted offshore. Proactive organizations are reviving their college recruiting efforts and making investments in growing their talent from within. Although their recruitment strategies may be cutting edge (Facebook, MySpace) the employment brand value proposition may still be old school. It’s made clear in the BusinessWeek article that Millenials share many of the same priorities with their parents when it comes to employment – with health benefits topping the list.
What is your organization doing to recruit and develop talent from the Millenial generation?