How Businesses in Emerging Markets Can Attract Talent [STUDY]

How Businesses in Emerging Markets Can Attract Talent [STUDY] Universum have revealed the latest findings in their Talent Insights Series, looking into what graduates in emerging markets look for in their career and how businesses can attract talent in these regions. By emerging markets they refer to  countries which are exhibiting a rate of GDP growth higher than the global average, however not as developed as  economies such as the US, UK, Western Europe, China, and Japan. These regions are expected to hold a lot of power in the coming years and  Euromonitor International stated that the emerging market economies will grow almost three times faster than developed ones, accounting for an average of 65% of global economic growth by 2020. Countries involved in the survey included those across South America, Asia and Africa mainly and a full list can be found below. The Talent Insights series aims to uncover what graduates  are looking for in future employers and findings of their latest study has uncovered  what business and engineering  students in emerging markets consider their career goals to be, what qualities they look for in an employer and how they find out about job vacancies. What are the top career goals in emerging markets? Work-life balance: The most important career goal mentioned among the graduates in emerging markets was work-life balance, however this differs in importance between regions. In North Africa, graduates prioritise being entrepreneurial or creative at work, over work-life balance. This could be held accountable to the high youth unemployment rates and  targeted government  initiatives designed to encourage entrepreneurialism and start-up culture. Graduates in Turkey also rated work-life balance quite low in their priorities and place more importance on working in a leadership/managerial role and having the opportunity to be innovative at work. This may be due to Turkeys weakening economy, which is encouraging the younger generation to seek out control and stability in their careers. Innovation: The opportunity to be entrepreneurial or innovative in a role was ranked as the second most important career goal among graduates in emerging markets. It would appear that graduates in these regions are confident in their abilities and are not afraid of starting up their own business. In fact, 97%  of Millennials surveyed in Sub-Saharan Africa said they were very or quite optimistic about their career outlook, compared to the global average of 84%. Job security: It came as a surprise that job security came in third, below work-life balance and innovation, which was expected to be more of a concern among  those in emerging markets. It is understandable that security and reliability would have  a significant influence on  individuals who have grown up in countries  with a high potential for economic and political instability. What qualities do graduates in emerging markets look for in an employer? A positive  company culture Findings of the study discovered that a creative and dynamic work environment is the most attractive quality for a potential employer. This, along with the findings that pinpointed work-life balance as one of the key career goals in emerging markets, suggests that the existence of work and life are merging, creating  less of a distinction between the two. Training and development Around half of those involved in the survey listed the opportunity for further training and professional development as one of the most appealing  factors to look for in a role. They also desire a leader who will encourage and support their development within the company. A previous Universum survey found that 85% of millennials want their job to become part of their identity and therefore strive to progress in their careers and  become valued for their individual contributions in a company. Where do graduates in emerging markets look for jobs? Though a large number of graduates in emerging markets make efficient use of more contemporary sources, such as social media and company websites, a large percentage still turn to traditional sources to learn about job vacancies. When advertising a role in an emerging market, it’s crucial for employers to make job seekers  aware by advertising on billboards and TV, which can then be used to drive students to their organisation’s website and social media pages. Many emerging markets in Africa, Asia and South America already have good access to an internet connection and therefore it is likely that a large number of Millennials in these countries make similar use of social media to young people in developed countries such as the UK and the US. Video is something that has become increasingly popular among young people over the recent years  and findings have discovered  that consumers aged 13-24 spend 11.3 hours weekly watching free online video. For this reason, employers should think about not only building a presence on traditional social media platforms such as LinkedIn and Facebook, but also making use of visual networks like Instagram, YouTube and Pinterest. What can employers do? Work-life balance Aspects such as work-life balance and the opportunity to be creative and innovative at work were both factors that graduates in emerging countries identified as being important to them when looking for a job and therefore it is important that employers create an environment that is fun and blurs the boundaries between work and home life. A couple of things that a lot of employers now offer are flexible working hours or the option to work from home, which allow employees to  work around their personal commitments. Training and development The opportunity to receive professional training on the job is something that a large number of the surveyed graduates find attractive in an employer, so its a great idea for businesses to offer a structured training programme for new employees, which may even give them an edge on self-employment which a large number of graduates in emerging countries reportedly strive toward.

Learn How to Build Relationships with the Millennials - Personal Branding Blog - Stand Out In Your Career

Learn How to Build Relationships with the Millennials - Personal Branding Blog - Stand Out In Your Career Guest post by Jason Jacobsohn The millennials are comingare you ready? Every generation has its way of seeing the world and interacting with people. In order to build relationships of trust and respect, it is important to know some of the nuisances with each generation. You can’t ignore the millennials who were born between 1980 and 2000. They are taking on the world by storm because they are the first generation of kids who grew up surrounded by digital media. Their lives have been shaped by trends such as multiculturalism, terrorism, globalism, heroism, and structure. They can be categorized as confident, hopeful, goal and achievement oriented, and civic-minded. The millennials will play an important part in the world going forward so don’t discount them. In order to continuously succeed, you need to learn how to interact with them. [youtube=http://www.youtube.com/watch?v=Kv52oVIcUKk] Dealing with millennials 101 The millennials are a generation that wants respect. They are serious about what they do so they expect you to view them this way. This generation is already having a profound impact on the world and will only get stronger in the future. They are our future leaders and are adopting technology at record paces. With that said, just treat them as you would treat anyone else. However, realize that they may be moving at a faster pace than you and are not afraid to voice their opinions. At the same time, they do respect leaders and look for your guidance and mentorship as long as you act with honesty and integrity. Further, they like to be challenged so if you have an issue that you would like resolved, give them an opportunity to help you. After all, relationship building is about helping others so let them know that you need assistance. Millennials work hard and play hard so keep this in mind as you get them involved with some of your activities both for fun and business. Find ways to plug them in to your life so you can get to know them better. When you meet these people, you will realize that they lead busy lives. So, their attention span may be short. Keep them engaged by being focused in your conversations. Also, let them talk about their interests and experiences because they have done a lot in their short lives. Next steps So, the next time you meet one of these young people, treat them with a world of respect because chances are they will teach you something. In fact, you may end up working for one of these folks in the future. They are a fast moving generation that will change the world. Jason Jacobsohn is an Adviser and Specialist of KMG Enterprises. In his current role, he acts as a business adviser and resource for entrepreneurs who need help growing their businesses. In addition, he has developed a bi-monthly newsletter called Network Your Way to Success. He is a frequent writer at MidwestBusiness.com, Personal Branding Magazine and Magazine Soho. He also co-hosts an annual networking event called The Great Chicago Networking Extravaganza and blogs furiously!