Small Business is our Business

Archive for June, 2016

HERE COMES GENERATION Z

As an employer, are you ready for Generation Z?  Born between 1990 and 1999, this generation of workers are markedly different from boomers, Xers, and Yers.  Generation Z  has never known a world without the Internet or smartphones—- the first truly digital generation. They are used to change.  Growing up during the Dot com debacle,  where parents lost money and jobs, these young workers crave financial security and employment stability.     Results from a survey conducted in late 2015 by Robert  Half, a staffing service , found these traits among Zers—-

* A clear vision of career goals.  Five years out of college , 32% expect to be managing or supervising employees in a corporate environment.  24% expect to be working their way up the corporate ladder , though not yet in the management ranks.

*Although   Zers are technologically savvy they lack  “soft skills”—- rigorous self-evaluation, taking personal responsibility, maintaining a positive  attitude,  follow-through, and timeliness.

*77% expect to work harder than previous generations to have a fulfilling career. They  are currently  facing a highly competitive job market in a struggling economy.

*Z’ers have strong relationships with parents, teachers, and counsellors who provide an enormous amont of   support, and coaching—–MUCH MORE than previous generations.

*This generation is entrepreneurial and can work independently.

*Z’ers want consistent and frequent feedback on their performance.

Source:  Get Ready For Generation Z.  Robert Half,

RECRUITMENT VIA SOCIAL MEDIA ON THE RISE

Recruiting via social media is growing among companies.  A 2016 survey conducted by the Society for Human Resource Management found 84% of companies are currently using social media to recruit—-dramatically up from 56% in 2011.  Why the interest?

* 82% use social media to recruit passive job candidates who might not otherwise apply

*77% want to increase employer brand  and recognition

*71% want to target applicants with specific skills

*61% want to target a specific job level — entry , managers, executives

*55% say it is less expensive than other methods to recruit job candidates

Source:  2016 SHRM Survey , Using Social Media For Talent Acquisition—Recruitment and Screening.

 

 

CREDIT CARDS AND COLLEGE GRADS

An April 2016 Experian College Graduate Survey looked at credit card usage among soon-to-be graduates.  The results—-

*58% have a credit card

*30% of credit card debt with an average balance of $2,573.

*47%  know their credit score

*The  average number of cards 1.35

*Average monthly charges are $531

Reasons for having a credit card include——

*26% parents/guardians suggested they get a card

*25% needed an easy way to shop

*25% wanted a way to make purchases without carry cash

*22% wanted  easy access to emergency funds

 

 

 

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