The Appeal of the Unappealing
Post by
Janet Sun | March 22nd, 2009
After looking at industries that had the most jobs a few weeks ago, I wanted to know how certain industries stacked up in terms of applicant preference and interest. So I polled 6700+ Gen Y and asked how 9 industries compared in terms of overall appeal. Why these nine? I wanted to present industries that hired a wide spectrum of students and grads (healthcare and education tend to hire for specific skills sets and certifications).
As expected, technology and new media topped the list with 40% or more citing these industries as most attractive. Interestingly, liberal arts majors were just as interested in these industries as business and engineering majors, which signals the broad appeal of these types of companies.
I attribute their interest to the engagement that Gen Y has had with web 2.0 and social media and the fact that tech firms haven’t been mired in the recent Wall Street bank collapses and mortgage housing crisis that we have all been watching for the past 6+ months. I expect that these firms will have the “pick of the litter” this year in terms of talent.
On the other end of the spectrum are the least attractive industries - insurance and manufacturing. Two older industries with perceived slower growth and therefore less opportunity for Gen Y. The survey data clearly suggests that companies at the bottom of the list have a brand perception issue that they need to combat, because there are fast growing, exciting opportunities to be found in these sectors.
I can’t help but think that students and recent grads are overlooking companies in these areas simply because of an overall industry perception issue, rather than what one prospective firm can offer. A perfect example of this is GEICO, the fastest growing auto insurer in the nation who continues to take market share and win awards for best customer service. And I know for a fact that they continue to hire all types of majors to grow their business. Or if you look at the Inc. 500/5000, there are 400 manufacturing companies that make the list as the fastest growing private companies in America.
Of course, all companies need to put their best foot forward when recruiting, visiting campus etc. The challenge that these less attractive companies face is finding the right aspects of their business and company culture that appeal to Gen Y (stability, training, CEO that started at the bottom rung) that allows them to compete effectively with those in the top industries.
Tags: Gen Y, insurance, least attractive industries, manufacturing, most attractive industries, new media, technology
March 24th, 2009 at 3:54 pm
How does this info compare to non-gen y respondents? Are these results indicative only of one segments feelings or are they more universal to all people in the work force, or all college grads in the workforce?
March 24th, 2009 at 4:07 pm
[...] 24, 2009 · No Comments Where Does Gen Y want to work? That is the question that inspired Janet Sun of Experience.com to poll 6700 Gen Y’rs to find the answer. I think as you see the results [...]
March 24th, 2009 at 5:05 pm
Jimmy,
Thanks for the comment. This particular survey pertains only to Gen Y. I suspect that different generations may have different perceptions - an industry that was “hot” twenty years ago might not be now, and yet, it still might be desirable for those college grads.
Janet
March 25th, 2009 at 8:36 am
@susan, but is being Gen Y the cause of this feeling or is it simply a correlation to the feeling. I would be interested in understandting that better. It seems to me that with the loss of manufacturing jobs over the last 30 years, they have lost much popularity accross the board. And the majority of entry level insurance positions are notorious for their high turnover, the standard process for their highest volume entry level positions is to enter the call center for a year and then move on. They have a rep for turn and burn and for evening shifts. Just saying….
July 28th, 2009 at 4:35 pm
There is a great book out there called Manufacturing a Better Future for America that anyone who is interested in the revitalization of manufacturing must read. America needs to be reminded that manufacturing is what built our economy so many years ago, and that we should look to it once more to drag us out of the economic mess our country is facing.
Furthermore, the economic mindset of our government and our business leaders needs to be shifted. The practice of offshoring production has rendered millions of Americans jobless and angry. This book justifies why jobs need to stay on American soil, and how a paradigm shift in business economics is needed to prevent this recession from repeating itself. All in all, I highly recommend this book to anyone who is willing to help bandage up our broken economy.
July 31st, 2009 at 11:04 am
Molly - thanks so much for the recommendation. I will definitely check out the book. I completely agree that manufacturing is one component that will help us recover from the situation we are in. Another major factor is innovation, which will enable us to create products and services that are desired all around the world - remember the personal pc, the web revolution? The BIG question is what’s next?