Hlubi and Gareth today discuss “Mistakes Young People Make In Their Careers” with a global tech start-up founder, Barbara Mallinson; director of an executive search and talent management firm, Janice Wagner; and the CEO of a web company focusing on online influence, Steven Murray.
Young people no longer seem to stay in one place or company for any period close to what we have become accustomed to seeing from generations gone by. The idea and very essence of the concept “career” seems to have changed and we use the time on the show to explore what some of the changes are, and the impact they are having on the job market and job seeker.
Here are a couple of interesting statistics to consider while listening:
- It costs an average of $24,000 to replace each Gen Y employee. [Millennial Branding / Beyond.com]
- Average tenure for Millennials is 2 years, compared to 5 years for Gen X and 7 years for Baby Boomers. [Pay Scale / Millennial Branding]
15% of Gen Y’s are already managers. [Millennial Branding / PayScale]
- 35% of employed Millennials have started their own business on the side to supplement their income . [Iconoculture]
- 46% of Gen Y wants to start a business in the next 5 years. [Employers Insurance]
- 54% either want to start a business or already have started one. [Kauffman Foundation]
- More than a quarter (27%) are already self-employed. [US Chamber of Commerce]
With just under half of the entire Gen Y workforce wanting to start a business in the next 5 years, employers are going to have to do a great deal to change their approach to engaging and retaining those with these types of feelings and ambitions. The alternative seems to be a costly affair.
In this show you will learn:
- What the term “Career” means in our new, global world
- What mistakes young people seem to be making in their careers
- The number one mistake we make when drafting our resumes or CVs
- Three top focus areas for developing our careers
Top quote from the show by Janice:
“As an entrepreneur and in our careers, we must continue to re-invent ourselves.”
Top quote from the show by Steven:
“You spend 90% of your life at work, so make sure it is something you enjoy and are passionate about.”
Top quote from the show by Barbara:
“Dream big and immerse yourself in what you do.”
Our guests and experts in the CliffCentral studio this week:
- Barbara Mallinson, Founder and CEO – Obami
- Janice Wagner, Founding Director – Edge Executive Search
- Steven Murray, CEO – Webfluential
Thanks for listening!
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