As of July 2015, almost half of the country’s workforce are millennials, or those aged between 15 and 34, at 44.8%, the National Statistics Office (NSO) revealed in its latest Labor Force Survey released in March 2016.
With this new generation of talents dominating industries, companies are adjusting to their needs and wants, which, according to a latest study are a lot.
The 2016 Deloitte Millenial Survey showed salary is not enough to make these young workers stay in a company, as 52% of the respondents cited “opportunities for career progression” as the number one factor considered by these job hunters when choosing an employer.
This is followed by competitive wages and other financial incentives (44%); excellent training and personal development (35%); good benefits and packages (31%); and flexible working arrangements (21%).
With these new demands in mind, top universities, now more than ever, play a crucial hand at preparing their students for the real world.
For the University of Santo Tomas (UST), it has redefined its guidance and counseling center into a career and counseling center to better serve its students. Part of its new phase is its upcoming “Thomasian Pride Career Fair,” set for April 13 to 15, which will feature 120 exhibitors.
“Compared to our previous job fairs, we assessed each company if they have Thomasians in their workforce. And for this year, we made sure our students understood why they study the subjects they have in the curriculum so they could have better understanding on how it will be applied in the real world,” said Prof. Lucila O. Bance, Ph.D., director of UST’S career and counseling center said.
Participating companies encompass different industries to ensure all talents from each college may be accommodated, from those in health care to financial institutions.
Throughout the three-day event each company will hold talks on what its managements need from new talents, what students can expect from the real world, and ultimately, acquire as much fresh talent as it can.
In last year’s job fair in the University, half of the 150 exhibitors reported those who applied on-site had moved on to interviews with their human resources teams.
The center is also holding “externships” all year long, or a series of talks and seminars from select companies with Thomasian alumni in its workforce to better communicate to students on “how the real world works.”
For Unilever, UST’s co-partner for the event, a multinational corporation such as theirs has to keep up with the changing business and employment trends, and thus are always on the lookout for talents who can keep things innovative.
“Technology touches every part of our organization enabling our business to move faster and with more confidence than ever before. The fact that millenials are technology-savvy places them at greater advantage,” said Job Nacpil, Unilever Philippines human resources business partner, in a statement.
This is the first job fair collaboration between the two institutions, and it is slated to continue it until next year.