Educating and Inspiring the World at Work JUNE/JULY June/July 2018

Transcription

1 Educing nd Inspiring h World Work JUNE/JULY 2018 K O HO & E N LI R E H C N I CL n l T BEsYER h r n LuROWN, PEARL M C r DGUIGNO AND SUE B B DREW How BY AN WorldWork. All Righs Rsrvd. For informion bou rprins/r-us, mil copyrigh@worldwork.org worldwork.org

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3 64 h ky o ongoing succss in ny m nvironmn is dph. I sounds lik simpl concp bu, in n xrmly compiiv job mrk, finding h dph is chllng. Rgrdlss of indusry, bnch srngh is buil ovr im by hiring mploys who r opn o lrning nw job skills nd dvncing in h orgnizion. Nw collg grdus r h idl rsourc for building group of nhusisic nd ddicd mploys who cn dd h dph h vry orgnizion nds. I is xpcd h lmos 2 million bchlor s dgrs will b hndd ou in 2018, ccording o h Nionl Cnr for Educion Sisics. Alhough h mrk is highly compiiv, hr r sill plny of opporuniis o bring in nw ln h cn hlp forify ms nd cr solid succssion plns. How do you nsur h your orgnizion is n mployr of choic for nw grds? D on jobs h rquir spcilizd skills nd ducion is spcilly vlubl, s hs r likly o b posiions h r difficul o fill. I migh b obvious o sy h compiiv hiring rs r criicl o rc h bs ln (nd h s ru, rgrdlss of h gnrion). I my no b s obvious o your HR ms how hy cn uncovr hos compiiv slris nd ohr vlubl hiring informion in such dynmic lbor nvironmn. Survy d is h mos ccssibl ool for compnsion profssionl o nsur h h or sh is offring h mos compiiv hiring pckg. Finding survy is sy, bu finding h righ survy is ky o succssful rcruiing. Whn i sms h h d chngs vry dy, i my b mping o rly on rl-im or usr-conribud sourcs of informion. Howvr, h quliy nd scop of d vilbl from rpubl nnul compnsion survy is h bs quniiv pproch o rcing nw collg grdus. This is whr you cn pinpoin h informion h s criicl for sing nry-lvl slris nd ssocid bnfis. Qusions o sk whn idnifying h righ survy d migh includ: Who r my orgnizion s lbor mrk compiors? Do I nd o b concrnd wih indusry? Am I hiring in gogrphic rgion wih priculrly compiiv slris? UNDERSTANDING THE HIRING LANDSCAPE Afr brodly idnifying survy h my srv your nds, g ino h spcifics. Bsic informion is good, bu dos i rlly provid n dg on h firc hiring blfild? On spcilly vlubl pic of informion is d on jobs h rquir spcilizd skills nd ducion, s hs r likly o b posiions h r difficul o fill. For xmpl, h 2017 Prl Myr Collg Grdu nd Inrn Compnsion Survy indicd h mny ho job cgoris nd jobs rquiring dvncd dgrs hv sn n incrs in boh sring slry nd h prvlnc of sign-on bonuss, which my b nw prcic h som orgnizions my no hv considrd. Looking d for nw nginring hirs, i s clr h only ccouning for significn yrovr-yr slry incrss wihou informion on h xplosion of signing pymns would pu compny rcruiing disdvng. Compnis r bcoming incrsingly criv o rc hs srgic hirs by no only offring signing incnivs, bu lso rsricd sock (14.7%) nd rlocion pckgs (42.2%). Similrly, rcruiing ffors r hppning rlir in h collg cycl, wih 25% of survy pricipns bginning civ rcruiing during h fll of junior yr, up from 17.2% sring h im in Evn rly-ccpnc incnivs pid in ddiion o ohr signing incnivs incrsd from h 2016 r of 33.3% o 44.4% in This yp of informion provids rcruirs vlubl hdsr on hiring for skilld posiions. Th compiivnss of priculr job lso cn provid chllng by ffcing h mrk bs slry. For xmpl, h U.S. Buru of Lbor Sisics (BLS) projcs h h mploymn of h informion scuriy nlys posiion will grow

4 HOOK LINE& CLINCHER Figur 1 Chng in Avrg Slry Avrg Slry Bchlor s Msr s Comp. Sci. w/info Sc. Bchlor s Ph.D. Comp. Sci. w/info Sc. Msr s % wih Sign-on Bonus 2016 % wih Sign-on Bonus 2017 Elcricl Enginring Bchlor s 13.1% 27.3% Elcricl Enginring Msr s 33.8% 41.1% Elcricl Enginring Ph.D. 29.5% 45.0% Compur Scinc wih Informion Scuriy Emphsis Bchlor s 0.5% 35.7% 0% 4.8% Compur Scinc wih Informion Scuriy Emphsis Msr s $86,199 $78,624 $78,741 $66,624 $116,154 $110,079 $88,813 $81,647 $70,183 $69,328 Avrg Slry Sourc: 2017 Prl Myr Collg Grdu nd Inrn Compnsion Survy compiiv jobs nd jobs wih vrg growh projcion rquir clos y o h mrk whn sing slris for nw grdus. (S Figur 1.) BUILDING DEPTH BEYOND NEW GRADUATES In ddiion o hiring nw grdus, inrns cn b h mos grssroos wy o build your dph. Wh br wy o build bs of loyl, drivn mploys hn sblishing rlionship wih h orgnizion during hir undrgrdu yrs, bfor hy focus on hir pos-grdu job srch? Wih mny compnis rcognizing h vlu of sblishing h rlionship, h inrn mrk hs bcom s ho s h nw-grdu mrk. Th svvy HR m will go o d for guidnc on srighforwrd inrn hourly hiring rs by dgr pursud nd gogrphy, s wll s brodr significnly fsr hn mos posiions in h nx igh yrs. Th vrg mploymn growh for ll occupions bwn now nd 2026 is 7%, bu during h sm priod h dmnd for informion scuriy nlyss is xpcd o grow by 28%. Slris for nw grdus in his fild of sudy will crinly rquir som monioring. Thr is cch, hough: Alhough mor compiiv mrk cn grly ffc py, jobs wih lss compiiv job oulook lso cn hv hrd-oprdic lps in slry. For xmpl, ccording o h BLS, h lcricl nginr posiion is xpcd o grow in lin wih h vrg of ll job yp xpcions 7%. Evn hough h job growh of his posiion is vrg, h slry of rcn grds hs incrsd rpidly for hos grduing wih msr s dgr. This suggss h boh highly 65

5 HOOK LINE& CLINCHER Figur 2 Fcors Affcing Avrg Py R of Collg Inrns Acdmic Lvl Advncd Educion Gogrphic Locion $16.60 $21.60 $19.10 $27.40 $33.20 $23.79 $25.36 Accouning Bchlor s 1 Yr of Sudy 4 Yrs of Sudy Mchnicl Enginring Dgr Bchlor s Msr s Ph.D. 4-Yr Biology Bchlor s US Avrg Py Norhs Py Sourc: 2017 Prl Myr Collg Grdu nd Inrn Compnsion Survy 66 informion such s prmnn posiion hiring guidlins or vn inrn py bsd on hir yr of sudy. Th diffrncs cn b significn: In h Unid Ss, h vrg py r for n inrn in his or hr firs yr of sudy for bchlor s dgr in ccouning is $ For h sm dgr, h vrg py r jumps o $21.60 in h fourh yr of sudy. Th mrk pricing on inrns diffrn lvls of sudy lso cn hv gr vrinc. For insnc, n inrn sudying for mchnicl nginring bchlor s dgr in h firs yr of sudy hs n vrg py r of $19.10, whil firs-yr msr s mchnicl nginring sudn hs n vrg of $ Th r incrss o $33.20 for Ph.D. sudns. Lik nw grdus, inrn py flucus significnly bsd on gogrphic locion. In h Unid Ss, h vrg py r for fourh-yr sudn sudying for bchlor s dgr in biology is $23.79, bu n inrn in h Norhs sudying for h sm dgr is pid n vrg of $ (S Figur 2.) USING DATA TO ENACT STRATEGIC CHANGE If your orgnizion is rging nw grdus nd inrns bu is ging pssd ovr by h bs ln bcus of compnsion issus, chncs r good h br d will hlp solv h problm. In-dph slry survy d cn b gr rmdy for your In-dph slry survy d cn grly rmdy your bnch-srngh wos nd llow your compny o rc nd rin op ln. bnch-srngh wos nd llows your compny o pu forwrd compiiv pckgs h rc nd rin op ln. And if your orgnizion is no sking nw grdus nd inrns, i my b im o r-vlu your hiring srgy nd policis. D my b h soluion hr, s wll. Whil vry orgnizion wns o rc moivd mploys (nd who is mor moivd hn somon jus hiing h job mrk?), h nry lvl my b n ovrlookd ln pool. Prsning h d o snior mngmn whil xplining h his cohor is highly sough fr nd vlud by ohr orgnizions my provid complling rgumn for widning h rcruimn lns. Andrw Guigno is snior survy ccoun mngr Prl Myr. H cn b rchd ndrw.guigno@prlmyr.com. Su Brown is n ccoun mngr Prl Myr. Sh cn b rchd su.brown@prlmyr.com