Recruiting the Class of 2018
The graduating class of 2018, where millennials meet generation X, may have a different mindset on career hunting than previous generations. They state are they are most concerned about the type of work they will be doing and whether or not they will have the opportunity to advance in their roles. Those entering the workforce this year expect higher salaries for entry-level positions. According to talent acquisition software company iCIMS, 80% of today’s recruiters report having a harder time filling entry-level positions compared to three years ago. What approach can recruiters and hiring managers take to appeal to this year’s pool of fresh talent?
Read further for tips on recruiting and retaining top talent from the Class of 2018:
2: The Candidate Experience
According to iCIMS, 85% of the Class of 2018 are confident that they will be happy in their first job after college. However, this positive mind-set can be snuffed out if they encounter negative experiences with recruiters, hiring managers and their interview process. According to Jason Weingarten, CEO and co-founder of Yello, 70% of grads surveyed noted the recruiter they work with will make a crucial impact on whether or not they will accept a position. It is important for recruiters and hiring managers to provide the best possible experience in both the interview process and on-boarding process of newly graduated candidates. This rings true for all job applicants, though it has only recently been pushed to the forefront due to the highly competitive current job market.
2: Offer Advancement Incentives
Weingarten stated that 48% of surveyed college graduates plan on staying with their first post-grad employer for more than three years. This is contrary to the popular belief that the previous years of grads are known for job hopping. Weingarten also states that recruiters “are dealing with a new batch of graduates who are not basing job decisions on perks or pay but instead on career path.” If you haven’t already, implement a career-growth plan that allows for performance based advancement in your company. This will give you the ability to enhance engagement and provide a better company culture for both employees and managers.
3: Increased Entry-level Salaries
Pay rates remain a high priority for new grads, they expect to earn a base salary average of $54,000 a year in entry-level positions. Because recruiters and hiring managers are already finding it difficult to fill entry-level positions, plan to up your game and offer higher salary ranges. iCIMS reported that on average, recruiters plan to pay entry-level employees a salary of approximately $56,532 which is a whopping increase from last year’s average of $49,785.
With this new class of workers, you can expect a different mind-set than previous graduating classes. In order to recruit and retain the top talent, it is imperative to implement career advancement incentives, higher salary ranges and a polished recruiting and on-boarding experience. These candidates know what they want and are driven to get it. Utilizing these tips can help you attract and keep these growth oriented workers in your company.