NEW YORK (11/28/07)--Your credit union is recruiting college students for possible employment. Do you offer a good startup salary and benefits to woo them? If so, you might want to concentrate more on providing career opportunities and deal with quality of life issues, according to a new study. Fifty-seven percent of students surveyed said that career opportunities would be their primary consideration when choosing an employer, according to KPMG LLP, an audit, tax and advisory firm (PRNewswire
Nov. 27). Another 22% said their primary consideration would be maintaining a work/life balance. Only 12% indicated salary and benefits as their primary consideration. While 53% of students surveyed said they expected to stay in their first job for three to five years, many seemed to have a "wait and see" attitude, with 74% responding "maybe" when asked if changing jobs is necessary for career opportunities. "While there is no doubt that companies need to think of quality of life issues when trying to attract new recruits, 'millenials' want jobs that help them build a career and create opportunities for the future," said Manny Fernandez, managing partner of campus recruiting at KPMG. "After accepting an offer, new recruits look at the career value proposition, and employers must offer a rewarding career path to retain new hires," Fernandez said. Other findings:
* Forty-seven percent of respondents indicated they would like to work abroad for an extended period while 40% would consider it; * Sixty-five percent of respondents expect to be more financially successful than their parents; * Thirty-nine percent said they will consult with their parents somewhat about their first jobs, 17% said they will spend significant time with their parents, and 28% said they "possibly" will consult with them. Only 16% said they would probably accept the job before telling their parents; * Forty-eight percent hope to retire between ages 51 and 60, with 27% indicating they would aim to retire between ages 61 and 70; * Forty-four percent expect to work 50-hour work weeks, on average, while 32% said they expected to work 45 hours per week; and * Sixty-six percent are concerned about social networking opportunities at their full-time employer.
KPMG surveyed 2,409 business students across the country in September and October.