I Love Rewards, the leader in online employee rewards and recognition, partnered with Studentawards Inc., youth marketing and market research firm, to understand future employees coming out of the "Class of 2010."
"The average job seeker according to the survey wants to stay with their first employer for 8.9 years, but the reality is that students only stay an average of 1.5 years according to the U.S. Department of Labor Bureau of Labor Statistics," says Razor Suleman, CEO and founder, I Love Rewards. "Employers have a real opportunity to save money in the long term by investing in robust retention strategies in order to keep this group engaged."
Close to 80 per cent of the students surveyed are optimistic about their upcoming job prospects, and 48.9 per cent plan to apply directly to companies of interest without seeing an advertised position.
"Employers with great informational websites, those with a clear job application process, an efficient means to receive resumes and respond to applicants will benefit from this group's pro-active approach to job seeking," says Suzanne Tyson, president of Studentawards. "This generation is accustomed to one-to-one online interactions, so human resources teams who can put a human touch on that first interaction will win great employees and potentially lots of customers too."
Some 1033 students surveyed; here is more of what they had to say:
- The most important factors for job seekers are salary, interesting and challenging work and career advancement opportunities.
- 73 per cent of students will be searching for full-time employment within the next two years.
- The average student wants to remain at their first job for 8.9 years.
- 67 per cent of Millennials want to be recognized by their manager or supervisor for the quality of their work.
- 48.9 per cent of respondents are planning to apply directly to the companies they want to work for.
- 44.7 per cent expect to make between $25,000 to $49,999 for the first position they secure after graduation.
- 84 per cent ranked travel as one of the top three rewards considered most meaningful to them, only 17 per cent ranked years as service awards in their top three.
The Class of 2010 study was conducted in February 2010 through an invitation to an online survey methodology in both French and English using a sample of 1033 Canadian students from the Studentawards online community. Other findings from the study can be found here.
I Love Rewards is a leading web-based provider of employee rewards and recognition, sales incentive and service award solutions. The company has been recognized as a top employer, Top 10 Tech company and human capital leader. For more information please visit www.iloverewards.com.
Studentawards Inc. operates Studentawards.com, boursetudes.com and Uthink Online and provides access to its community of over 600,000 registered 15-30 year old members. Companies can access the community though Studentawards' marketing and market research service as well as its turn-key scholarship administration services. Studentawards is the preeminent access provider to youth and students in Canada.
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