Friday, June 27, 2008

Detroit Auto companies are taking a beating

The Stock market was not kind to many yesterday, and the auto companies were in the middle if it all. GM's stock is down something like 70% year-to-date, at its lowest price in decades. Ford's stock took a hit while they are in the midst of again cutting staff. And Chrysler, although privately held, had to come out to deny bankruptcy rumors. All three are supposedly burning through cash reserves like a teenager burns texting minutes. But it wasn't just the auto companies that were slammed yesterday. Take a look at the banking stocks and you'll be glad for FDIC. And health care is down, even though they keep increasing prices on everything that touches that industry. Hopefully the auto companies have made enough changes already that they can weather this out for some time.

Chrysler Denies Bankruptcy
GM and Ford Stocks Get Slammed
Agency Deathwatch 2008

Friday, June 20, 2008

Millennial Madness: Tips for Effectively Attracting & Recruiting Gen Y

Article Title: Millennial Madness: Tips for Effectively Attracting & Recruiting Gen Y
Author Byline: Author of "Millennials Incorporated" & Generation Relations Expert
Author Website: http://www.TheOrrellGroup.com

As you read this, Millennials (Gen Y) are being actively recruited prior to, and upon, college graduation. Many are already busy navigating the waters of their first professional job since being hired a year or so ago. But why is this new generation the new darlings of the workforce? And how can you successfully attract and recruit this sought after group of young talent? Keep reading!

Let me start by saying that companies, of all sizes, are spending record-breaking amounts of money on recruiting the Millennials. Companies like Deloitte, Toyota, IBM and other brands you know are taking this very seriously, so this isn’t just me saying they are a big deal to the future of our professional workforce; companies all over the U.S. and abroad are starting to see it, too.

But why has this new generation of young professionals turned into such a hot commodity? One key factor is the looming reality of the Boomer Brain Drain that companies across the country are going to feel over the next 5-15 years (starting now as the oldest Boomers hit retirement age). Here’s one simple statistic from the Office of Employment Projections that will quickly put this into perspective: The average large company in the U.S. will lose 30-40% of its workforce due to retirement over the next 5-10 years. Ouch.

But wait! There’s more. According to the Employment Policy Foundation, based on the current population growth trend that is occurring in the U.S., we could be facing a labor shortage of educated and skilled workers of over 35 million people in the next 3 decades! This is a big deal and critical to our country’s ability to maintain our current level of productivity and competitiveness worldwide.

And we have as many GenXers on the planet as there are going to be, so the replacements for this massive Boomer exodus are the Millennials. That is why M.B.A. students are being offered amazing employment packages, starting salaries are being jacked-up higher than ever, and impressive signing bonuses are being offered. Many of the top young college grads are being pursued and courted like top college draft picks entering the NBA. Basically, recruiting and retaining them has turned into a big, competitive business.

Now that you have a general idea of why companies are clamoring to hire them, I thought it would be a good idea to share 5 key attraction and recruitment tips that your organization may want to consider.

Effective Attraction & Recruitment Tips:

1. Go Where They Are: Running ads on Craig’s List or Monster.com aren’t enough. This generation has grown-up experiencing life online and congregate on places like MySpace, FaceBook, YouTube and Second Life. You should consider having a company presence in these communities to attract Millennials to your brand and make them aware of you. You can interview/videotape employees about how great it is to work at your company and post it on YouTube. Deloitte has done an amazing job posting fun videos on YouTube to attract Millennial talent, so check out their posts for ideas. Make them funny and/or interesting and you’ll get viewers. And it’s basically free and easy to do!

2. Preach Work-Life Balance: This generation is showing up totally aware of work-life balance. They value time with family and friends, and they value their time doing things they enjoy. Boomers and Gen X employees typically didn’t ask for flextime until they had been in the workforce for 15+ years. Millennials are showing up and requesting it from Day One. And, the smart companies are offering it.

3. Invite the Folks: As a whole, this generation considers their parents part of their social circle. They admire their parents, they like their parents, and they respect their opinion. Perhaps you’ve heard the new term “Helicopter Parents”. It means that even when their kids go off to college (or work!) they don’t stop hovering over them and guiding them (a lot!). Believe it or not, recruiters are now finding themselves taking a top candidate to lunch for a schmooze fest and he/she brings their parents. Recruiters are realizing that convincing the parents it’s the best job for their daughter, Sally, is as important as convincing Sally. Well-known companies are even creating “Parent Days” where job candidates can bring their parents to tour the company’s work environment, meet their potential managers, etc.

4. Preach Mentoring: These young adults want to know you will provide them with plenty of guidance and mentoring! If you don’t have a mentor program in-place, create one and emphasize it during the interview process. I recently conducted a seminar with a well-known company about recruiting and retaining Millennials, and they had been suffering from a high turnover of Millennials. When I spoke to the Millennials who had left, all of them mentioned the company hadn’t provided enough mentoring and training programs.

5. Emphasize They Will Get Plenty of Face Time With Managers: A recent survey of Millennial professionals, conducted by Robert Half International and Yahoo! Hot Jobs, found that 60% of Millennials want to hear from their managers at least once a day. This generation will not do well with just one weekly “check in” session with their managers. They want feedback daily and an opportunity to communicate with their manager(s) for input on their projects.


So are the rumors you’ve heard about them being high maintenance true? Yes. But, they will also be high performing. Our country (and world!) has just begun to feel their impact as they reach their mid-20s. And, as with generations in the past, this generation will create new definitions for: Work environments, success, leadership, communication, management, entrepreneurship, corporate culture, and professional relationships. The successful companies will adjust (and are!) their corporate cultures and recruitment and retention strategies to appeal to this unique generation.

For more free tips on recruiting, managing and retaining Millennial Talent, and for info on improving generation relations in the workforce, be sure to visit: http://blog.generationrelations.com/

Article courtesy of the Recruiting Blogswap, a content exchange service sponsored by CollegeRecruiter.com, a leading site for college students looking for internships and recent graduates searching for entry level jobs and other career opportunities.

Wednesday, June 18, 2008

...and more Bad news at Chrysler

How long will Chrysler last? What will this company look like in two years? Five years? Will Tata end up buying a controlling interest? Will they be the strongest U.S. automobile manufacturer once they rebound?
Chrysler Sales fall again

More Good News from GLITR

Some good news in today's GLITR report, as the Michigan Economic Development Corp. (MEDC) will help a number of companies with capital investment and tax abatements. Although these efforts include only a small number of jobs in technology, it's good news for Michigan as creating or saving any manufacturing jobs helps the State's economy as a whole.

High Tech Jobs Among 3,900 Announced By MEDC

Tuesday, June 10, 2008

Michigan Hiring Outlook

From today's Great Lakes IT Report, the Manpower Employment Outlook Survey shows that in the southeast Michigan market, a net five percent of employers plan to add staff in the 3rd quarter of 2008. This is below the net 16% of companies nationwide that plan on hiring for the quarter, which is down from the same period one year ago. Michigan overall is still lagging with 10% planning on additional hiring. Unfortunately we cannot break out the IT industry from those numbers, but it shows the overall employment trends.

Wednesday, June 4, 2008

Tech: A Girl´s Best Friend

Article Title: Tech: A girl´s Best Friend
Author Byline: Entervista
Author Website: http://www.entervista.com/blog/2008/06/tech-a-girl´s-best-friend/

Women have been struggling for decades to achieve equal status to men when it comes to the workplace. The statistics are way too familiar. In the US, for full-time, year-round workers, women earn around 33% less than men for the same job. For women of color, the gap is even wider.

Women are also more likely to work in more precarious forms of employment with low earnings, little financial security and few or no social benefits. This results in that women also tend to own fewer assets, as a lack of control over household income constrains their ability to accumulate capital.

A lot is being done today to revert this unfortunate situation: every day, women and men, through companies, international organizations and NGOs are raising awareness about the problem and creating practical solutions to improve the conditions for women in the workplace around the world.

This does not mean that women should ignore the reality of the numbers in making career decisions today. They must be aware that, by entering the workforce, they are most likely embarking in a path of climbing uphill. There is also no reason for them to ignore that tradition, convention and circumstances, more often than not, place the responsibility for children upbringing and household chores on their shoulders.

Working is a necessity for most women. And also, many women have some room to choose what direction to take when it comes to a career or profession. The corporate ladder may be just a bit too steep for women with a life outside work that is just as demanding as during office hours.

Tech has offered many women some comfort, and keeps attracting more and more. A career in technology is intellectually challenging, often solitary, and objective-driven - traits that fit well with the flexibility that women need.

Programming, for instance, provides instant feedback about whether or not a code works. Programmers often get to implement a solution from its inception. The creativity needed for design, as well as the patience and attention to detail required, attract women that are driven and appreciate the tangibility of the achieved results.

Entrepeneurs, freelancers and commercially-oriented women find in the web a friendly platform from which they can develop their activities. Today, professional, tech-savvy women are committed to using technology, resources and connections to advance and succeed, worldwide. Social networking sites are an important tool, and its use is more and more widespread among women.

In Second Life, it is possible to create your own business, design, sell and buy all kinds of products through an avatar that may look like Marilyn Monroe or Edward Scissorhands. The only key to success is to offer something others are willing to pay for.

An added benefit of going into tech is that course fees and studies are considerably lower than the high fees associated with traditional careers such as Law or Medicine.

Every day, women find the idea of reducing the need for outside approval, fixing their own rates, managing their own time, designing and selling their own products and services more and more appealing. And in doing so, they take effective steps towards reducing gender inequality.


The Entervista Team
http://www.entervista.com/blog/2008/06/tech-a-girl´s-best-friend/

Article courtesy of the Recruiting Blogswap, a content exchange service sponsored by CollegeRecruiter.com, a leading site for college students looking for internships and recent graduates searching for entry level jobs and other career opportunities.