 |
|
 |
IN TODAY'S WORKPLACE, YOUNG PEOPLE HOLD THE ADVANTAGE
JULY, 2007
Irwindale, CA – July 2007
In today's workplace, young job seekers hold the advantage …
by Penelope Trunk
Companies are having a hard time recruiting and retaining
young talent, and as a result are accommodating what would have once been
considered extreme demands. "The scales have tipped in favor of knowledge
workers, creating a seller's market for the next 5 to 10 years," writes
to Stan Smith, National Director of Next Generation Initiatives at Deloitte.
Here are some reasons why so many younger workers have gained the advantage
when it comes to negotiating the terms of a new job.
The workforce is shrinking.
The Department of Labor reports that from 2000 to 2010 there will be a
30 percent decrease of workers in their 30s and 40s. In addition, many
Generation X parents are choosing to leave the workforce or cut back on
hours in order to be home with their children. This trend is so pronounced
that it's creating a shortage of managers already.
Many young people want their own businesses.
The barriers to starting an Internet business are low. Viral marketing
via a personal e-mail list and a few key mentions on prominent blogs can
potentially catapult a good idea into a successful business. Since young
people can effectively fund their own companies this way, many do not
want to pay their dues by working for someone else and learning the ropes.
The flexibility of owning a company is not only appealing, but also a
way to avoid menial labor at the bottom of the corporate ladder. In fact,
many young people are choosing the excitement of entrepreneurship over
the stability of a good salary.
If entrepreneurship is the first choice, a corporate job is a backup plan. Matt Humphrey, 20, and three friends
just founded SlapVid, a company that cuts the cost of providing video
content online. Humphrey thinks of the MBA program he is now in as sort
of a backup plan in case SlapVid does not take off at the end of the summer.
And in the event that he does not have another idea for a company before
he graduates, getting a job at someone else's company is a second-level
backup plan.
Parents are a safety net.
More than 50 percent of college graduates will move back home with their parents this summer. And most
parents will like it. It used to be that returning home after college
was seen as a sign of failure. Today, however, economists and sociologists
see such homecomings as a smart response to exorbitant housing prices
in big cities, and entry-level wages that do not cover living expenses.
Three out of four of the founders of SlapVid are getting financial help
from their parents. And Humphrey's parents are typical in their enthusiasm
for their child's adventure, and the tight relationship they share. "They
know they might have to support me for longer than they planned for,"
Humphrey said. "They're definitely up for that. If I want to do something
really, really cool, they'll support me all the way. They call me every
day to see how I'm doing."
With such parental support, there is no need for a company to play the parenting role, which is what happened when
baby boomers entered the workforce. And if there is no paternalism in
corporate life, it becomes a scramble to figure out what businesses can
leverage to scoop up young employees.
The intimidation factor is diminished.
"People going to college today are working harder than I ever did in school," says Bill
MacGowan, chief human resources officer of Sun Microsystems. "These kids
will find work easier than I did." In return for their effort, they expect
to be well compensated by employers. As consummate consumers, they use
technology to customize the way they view information, and they expect
the same kind of customization when it comes to selecting jobs. They negotiate
for vacation time, mentoring and training, flexible schedules, and even
tricked-out laptops.
And when it comes to negotiating, young people assume the adults at the office are on their side. Generation Y has been raised
by parents who often acted more like friends and mentors. In fact, often
a wide community was involved in helping a Generation Y child succeed
- including teachers, coaches, and private tutors. As a result, young
people bring unprecedented confidence to the negotiating table. Some even
have their parents in the room for added help, and many respected companies
are willing to engage parents in the hiring process if that's what the
candidate wants.
Indeed, the scales have tipped and young people are in charge. For people who have been in the workforce for a long time and
expected to be in charge, the new reality is difficult to accept. But
it's possible all employees will benefit from some of the changes. After
all, demands such as more flexible schedules, are appealing to all employees,
regardless of age.
Penelope Trunk is a columnist at the Boston Globe and Yahoo Finance. Her syndicated column has run in more than 200 publications.
Earlier, she was a software executive, and then she founded two companies.
She has been through an IPO, an acquisition and a bankruptcy. Before that
she played professional beach volleyball. Her book is 'Brazen Careerist:
The New Rules for Success' (Warner, May 2007). For more information about
LA Works, contact
Sandy Meza, Public Relations and Business Services Coordinator
LA Works
(626) 960-3964 ext. 2224
sandy.meza@laworks.org
BACK TO THE TOP
|
 |
