Report: Portraying Generation Y

The 'War for Talent'

Given that Australia has the lowest unemployment figures in 27 years and New Zealand the lowest in the OECD, employers will come under increasing pressure to attract, recruit and retain appropriate staff in the future.

Skills shortages are dominating the employment market and many employers are facing staffing challenges. In a recent survey of over 1,000 people conducted by Hays, skills shortages were regarded as the major factor influencing business today, ahead of global and national economic trends and increased regulation and compliance.

Today many employers struggle to fill vacancies and candidates often receive more than one job offer. As skills shortages continue, employers will face increasingly stronger competition for staff.

To meet the ongoing demand for skilled staff, employers need to turn to the next generation of young recruits. But how can you attract and retain a generation you do not understand?

Generation Y are the young recruits of today who are the future of our skilled candidate base and are the talent we need to maintain business success. They are tomorrow's Finance Managers, Financial Planners, Executive Assistants and Project Managers.

But this generation differs from the remainder of today's workforce in many ways and to compete for these candidates now and in the future, employers and recruiters alike need to tune into this generation's unique characteristics and create a recruitment program tailored to their preferences. Our aim in researching this issue is to help employers and HR practitioners understand this next generation of employees.

The 'War for Talent'
Summary of Findings
Loyalty and Generation Y
Implications for Australian and New Zealand Workplaces
Recommendations for Attraction
Recommendations for Retention

Report: Portraying Generation Y