Up to 50pc of HR directors have failed to adapt their recruitment techniques over the past three to five years in order to obtain the best ‘Generation Y’ candidates for the job, according to a new global survey that analyses the effectiveness of company methods in attracting the tech-savvy generation.
The SpenglerFox ‘Generation Y’ survey found that 44pc of human resources directors (HRD) felt their current selection methodologies might be unsuitable for attracting the desired candidates.
SpenglerFox, the executive search and human capital solutions firm, conducted the study globally on 380 senior HR directors, and found that a mere 32pc of HRDs had confidence in their current recruitment methods.
Young knowledge workers
"Without a doubt; we are in the age of the ‘young knowledge worker’. Generation Y is the most high-performing generation in the history of mankind with more information in their heads and at their fingertips and so they can perform a variety of tasks in many business domains and have no qualms about relocating to anywhere in the world.
"In today’s world, any company is your competition in the search for talent. The big question is: Will Gen Y be working for you or for your competition?" said Mark Hamill, global managing director of SpenglerFox.
The term ‘Generation Y’ is widely accepted to refer to those under the age of 30 and who are considered to be the most educated, confident and technology-savvy generation ever.
Hamill said that those individuals referred to as Generation Y place a strong importance on continual development and recruitment methodologies need to reflect that.
"Gen Ys place importance on personal development and continuous learning, team work and a proactive role in career planning and development. Challenging and meaningful assignments tend to be more important than lifelong employment and Gen Y candidates are constantly seeking opportunities to learn and grow professionally.
"While recruitment selection methodologies such as competency interviews, general ability tests and personality/psychometric questionnaires may have been perfected with older generations, there is a strong likelihood that the best and brightest from the Gen Y could be overlooked. Organisations that understand generational differences will have the competitive edge in attracting, motivating and retaining Gen Ys," Hamill concluded.