strategies to attract stem talent

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Strategies to Attract STEM Talent: Findings from the Universum Student Survey and Communicating with Talent 2014 Kevin Troy 11 August 2014

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In this webinar, Universum Americas Head of Research & Insight Kevin Troy discusses how employers can attract and engage STEM students. Using data-driven insight, this webinar explores the importance of brand ambassadors, uncover what STEM talent wants from their employers, and walks through how to balance different communication channels in your recruitment efforts.

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Page 1: Strategies to Attract STEM Talent

Strategies to Attract STEM Talent: Findings from the Universum Student Survey and Communicating with Talent 2014

Kevin Troy 11 August 2014

Page 2: Strategies to Attract STEM Talent

Polling question: Whom do you struggle the most to attract to your organization? (check all that apply)

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  Scientists (chemists, biologists, physicists, etc.)   Computer scientists or IT specialists   Engineers in non-IT / software areas   Designers or artists with technical skills (e.g. web designers,

architects)   Mathematicians

Page 3: Strategies to Attract STEM Talent

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1  Some context: the size of the problem

2  Engineering and IT students’ preferred employer

attributes

3  Communication channels

4  Indirect communication through brand ambassadors

Page 4: Strategies to Attract STEM Talent

Graduates with strong technical skills are in high demand…

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0%

25%

50%

75%

100%

Engineering Biological and physical sciences

Mathematics and computer science

Percentage of New Bachelor’s Degree Recipients in the USA Employed Full-Time a Year After Graduation

1989-90 graduates in June 1991 1999-2000 graduates in July 2001 2007-08 graduates in June 2009

Page 5: Strategies to Attract STEM Talent

…and more than 30% of them are working in non-technical fields

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0%

25%

50%

75%

100%

Engineering Biological and physical sciences

Mathematics and computer science

Percentage of Full-Time Employed Recent Bachelor’s Degree Recipients in a Job Closely Related to Their Field of Study

1989-90 graduates in June 1991 1999-2000 graduates in July 2001 2007-08 graduates in June 2009

Page 6: Strategies to Attract STEM Talent

Example from just one sub-field: Approximately 35k / year gap between supply of and demand for math & comp sci grads

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66,000

• Math & Computer Science bachelor’s degree recipients in the USA in 2012

~56,000

• Entered workforce full-time upon graduation (~85% of total)

~40,000

• Employed in jobs closely related to field of study (~70% of full-time employed)

1.5 million

• Total job openings in math and comp science occupations between 2008 & 2018 (projected)

• 798k new jobs + 707k replacements

~150,000 • Openings each year over that 10-

year period

~75,000

• Openings each year requiring a bachelor’s degree (~50% of annual openings)

SUPPLY DEMAND

Page 7: Strategies to Attract STEM Talent

Engineering and IT students, in particular, tend to consider a wide number of employment options

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# of Employers Considered by Canadian Undergraduates on Universum Student Survey 2014

(from list of 140 employers) 2014 2013 Delta

Business 21.0 18.8 2.2

Engineering/IT 19.4 15.4 4.0

Natural Sciences 11.1 9.9 1.2

Liberal Arts 11.8 10.1 1.7

Law 12.0 9.5 2.5

Health/Medicine 7.2 6.0 1.2

ALL UNDERGRADS 15.4 13.2 2.2

Page 8: Strategies to Attract STEM Talent

How should you create a strategic EVP?

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PREFERENCES Why people choose an IDEAL employer

ASSOCIATIONS What your target group

associates with Your firm

INTERNAL PERCEPTION What your firm’s management perceives as

its internal employer brand

Key EVP Criteria: •  ATTRACTIVE •  CREDIBLE •  DISTINCT •  SUSTAINABLE •  TRUE

EVP

Page 9: Strategies to Attract STEM Talent

The Universum Employer Attributes Framework

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The contents and demands of the job, including the learning opportunities provided by the job •  Challenging work •  Client interaction •  Control over my number of working hours •  Flexible working conditions • High level of responsibility • Opportunities for international travel/relocation •  Professional training and development •  Secure employment •  Team-oriented work •  Variety of assignments

The monetary compensation and other benefits, now and in the future • Clear path for advancement • Competitive base salary • Competitive benefits • Good reference for future career • High future earnings • Leadership opportunities • Overtime pay/compensation • Performance-related bonus • Rapid promotion • Sponsorship of future education

The attributes of the employer as an organization •  Attractive/exciting products and services •  Corporate Social Responsibility •  Environmental sustainability •  Ethical standards •  Fast-growing/entrepreneurial •  Financial strength •  Innovation •  Inspiring management • Market success •  Prestige

EMPLOYER REPUTATION & IMAGE JOB CHARACTERISTICS

REMUNERATION & ADVANCEMENT OPPORTUNITIES

The social environment and attributes of the workplace •  A creative and dynamic work environment •  A friendly work environment •  Enabling me to integrate personal interests in my schedule •  Interaction with international clients and colleagues •  Leaders who will support my development •  Recognizing performance (meritocracy) •  Recruiting only the best talent •  Respect for diversity •  Respect for its people •  Support for gender equality

PEOPLE & CULTURE

Page 10: Strategies to Attract STEM Talent

Engineering & IT students place equal emphasis on “practical” and “cultural” factors when looking at employers

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0% 10% 20% 30% 40% 50% 60%

Secure employment

A creative and dynamic work environment

Professional training and development

Innovation

A friendly work environment

Leaders who will support my development

Challenging work

Respect for its people

High future earnings

Variety of assignments

Most Important Employer Attributes for Engineering & IT Undergrads Showing Weighted % Selecting Attribute as Important, Top 10 (of 40) Attributes

Canada USA

Page 11: Strategies to Attract STEM Talent

Is “a creative and dynamic work environment” code for “a place where innovation happens?”

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0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%

% as

socia

ting

w/ c

reat

ive

wor

k en

viro

n.

% associating w/ reputation for innovation

Undergraduate Engineers’ Associations Showing % who associated attribute with their ideal employer, USA 2014

Page 12: Strategies to Attract STEM Talent

So what is a “creative and dynamic work environment,” then?

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Page 13: Strategies to Attract STEM Talent

Students want personalized contact with employers, whether face-to-face or digital

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0% 10% 20% 30% 40% 50% 60%

Career fairs

Employer presentations on campus

Targeted emails

Employer websites

Employer-sponsored events

Skills sessions organised by employers

Direct mailings

Social networks/communities

Job boards

University press & student organisation publications

Channels Most Preferred by STEM Students, USA 2014

Page 14: Strategies to Attract STEM Talent

Polling question: At what point in the recruitment pipeline do you think you have the biggest problem attracting well-qualified STEM students?

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o Students aren’t aware that there are opportunities at my organization

o Students are aware, but aren’t applying to me as an employer of choice

o Students are applying, but aren’t accepting offers

Page 15: Strategies to Attract STEM Talent

Different communication channels are suited to different steps in the recruitment “funnel”…

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Most effective communication channels

Awareness

Consideration

Desire

Application

Print Digital

In-person Print

Digital In-person

In-person

Page 16: Strategies to Attract STEM Talent

…and for different types of information

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Print channels Digital channels In-person channels

71%

44%

30%

20%

11%

Facts and figuresabout the employer

Employeeinterviews/profiles

News articles aboutthe employer

Recruitment ads

Managementinterviews/profiles

70%

48%

36%

22%

21%

Facts and figuresabout the employer

Employeeinterviews/profiles

Newsletters sent toyou by email

Employer videos

Editorial newsarticles about the

employer

64%

38%

35%

28%

13%

Company CareerDay/On-SiteCampus Visit

Informal mingling

Workshops

Formalpresentations

Speed-interviewing

Page 17: Strategies to Attract STEM Talent

Your engineering interns are your most powerful brand ambassadors

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0%

10%

20%

30%

40%

50%

60%

Current students from my school who work(ed) for the

employer

Other people I know who

work(ed) for the employer

Career services at my school

Professors at my school

Alumni from my school who

work(ed) for the employer

My parents My friends My classmates Other

Top Influencers of STEM Students When Gathering Info on Potential Employers Showing % of respondents who selected person as one of their top 3 influencers

USA, 2014

Current students more important for engineering & IT students

Professors more important for science students

Alumni less important, and parents more important, in Canada

Page 18: Strategies to Attract STEM Talent

Four strategies for attracting STEM talent

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1.  Think carefully about what you can truly offer STEM talent, and tailor your messages to the intersection of what is credible and what appeals to them.

2.  Your employer website is probably fine. Think about other channels, and which will be most appropriate to your problem.

3.  Prepare your interns and current employees for serving as brand ambassadors.

4.  Develop relationships with college professors who can become partners in finding students.

Page 19: Strategies to Attract STEM Talent

Polling questions

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•  Did you find today’s webinar helpful? – Yes, very – Somewhat – No

•  Would you be interested in hearing more from Universum about

how we can help? – Yes – Maybe – No

Page 20: Strategies to Attract STEM Talent

Coming up in this webinar series

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Recruiting through Facebook - Increase Candidate Engagement 100x •  Jason Kipps, Managing Director, Canada •  http://bit.ly/1s8b8Lc

How to be Authentic and in Control with your Digital Employer Brand •  David Brudenell, Global VP of Product & Head of Digital •  http://bit.ly/1s8dCZQ

Managing for Diversity: 3 Key Takeaways  •  Paul O’Shea, Head of Consulting, Americas •  http://bit.ly/1s8e4HL

Page 21: Strategies to Attract STEM Talent

CONTACT

Kevin Troy Head of Research & Insights, Americas

Register for other webinars in this series! http://bit.ly/1s8b8Lc

[email protected]