The future of the U.S. and global economy rests with the Generation Y workers, and this study spotlights the companies making the most of what Gen Y has to offer.
Seattle, WA (PRWEB) December 16, 2009
PayScale, Inc, the world's leading online provider of employee compensation data, and Brazen Careerist today released a comprehensive report about the top companies for Generation Y (Gen Y) employees. Generation Y, also known as the "Millennials", is generally defined as those born between 1977 and 1994.
The nation continues to suffer extensive and deep fissures in the labor market, with the current underemployment rate standing at 17.5 percent. One of the hardest hit groups is Gen Y college graduates, who need guidance on where to focus their job search efforts.
The Brazen Careerist/PayScale study (http://www.brazencareerist.com/top-50) identifies the Top 50 Companies for Gen Y workers, based on characteristics that matter to Gen Y: fraction of Gen Y employees, gender balance, pay, and "green" score. In addition, typical Gen Y jobs for each company on the list are given.
The top five companies for Generation Y from the Brazen Careerist/PayScale study are:
1. NBC Universal
3. Nestle USA
"The Great Recession has hurt workers of all ages, across all geographies and sectors," says Al Lee, Director of Qualitative Analysis at PayScale. "The future of the U.S. and global economy rests with the Generation Y workers, and this study spotlights the companies making the most of what Gen Y has to offer."
Google and SunGard Data Systems make the top 50 list, while other technology industry leaders like Microsoft and Oracle do not. The key difference? Google and SunGard Data Systems have been more effective in hiring Gen Y workers of both genders.
Despite their current reputation, the finance and banking industry, with 12 companies in the top 50, remains an attractive option for Gen Y. This industry both pays Gen Y employees better than most and has a workforce that skews young.
"We focused the survey on companies that do a good job of hiring both men and women. Organizations that can achieve gender diversity generally can accommodate the varying needs of a changing workforce. For example, flexibility is very important to Gen Y. And most companies say they offer flexibility, but the diversity of the workforce is a filter to really measure what flexibility means as well as other job quality characteristics," said Penelope Trunk, Founder, Brazen Careerist.
Adds Trunk: "So many Best Companies for Gen Y lists indicate that salary may not be an important job factor. This is misleading. What the Gen Y worker thinks about salary is this: You cannot underpay in today's environment because great salary data is available online, at places like PayScale. Gen Y thinks salary is not a negotiating point: They expect what the market is paying because the data is available to the employer and employee. In the end salary is very important: The GenY worker will quit if they feel the pay structure is unfair."
The data were collected between October 15th, 2008 and October 15th, 2009 for full-time employees working in the U.S. who hold at least a bachelor's degree. We focus on the following criteria to determine the Top Companies for Gen Y workers:
(1) Start with the PayScale database of over 50,000 Companies and eliminate any company with less than 2500 employees.
(2) Next focus on companies with approximately 2000+ bachelor's degree or higher graduates in order to limit the sample to companies that are major employers of bachelor's (or higher) graduates.
(3) Pick the 50 companies with the highest score(s), as defined by:
- Percentage of Gen Y employees
- Median total cash compensation of Gen Y employees
- Gender balance
- Green score, as determined by Climate Counts (http://www.climatecounts.org).
For more information about the report and its methodology, please inquire at press(at)payscale(dot)com.
About Brazen Careerist
Brazen Careerist is a Generation Y-targeted career site that uses social networking to showcase job seekers' ideas and potential over their background and experience. Brazen Careerist "levels the playing field" for Generation Y by reversing the disadvantage these candidates have faced on other online career sites where experienced Gen Xers and Baby Boomers appear more employable. For recruiters and hiring managers, Brazen Careerist will offer unique deep insight into the critical thinking skills, ideas, knowledge, and peer influence of high performing Generation Y candidates whose potential would not be discoverable from an online resume. For more information about Brazen Careerist, visit http://www.brazencareerist.com.
PayScale.com (http://www.payscale.com) is the leading online provider of employee compensation data. With the world's largest database of individual compensation profiles, PayScale provides an immediate and precise snapshot of current market salaries to employees and employers. PayScale's patent-pending, real-time profiling technology collects and indexes employee pay attributes worldwide and makes this compensation data available through its online salary tools and salary benchmarking reports. PayScale was founded in 2002 and is headquartered in Seattle.