Last week, we posted about the “2016 Most Attractive Employers According to U.S. Students.” Today’s post focuses on Universum’s 2016 survey of college students around the world about the most attractive employers for those interested in business careers. The 2016 rankings are compiled from student surveys in the world’s 12 largest economies: Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Russia, UK, and USA:
“The World’s Most Attractive Employer companies, must rank in the top 90% of employers within at least six regional markets. If an employer is not listed or is ranked outside the top 90% in a market, it gets a default ranking which is equal to the position of the last company in the top 90% for that market. Results are weighted by GDP, so that a high ranking position in the U.S. has a greater influence than a high ranking position in India, for example.”
Here are the 2016 global top ten most attractive employers for business:
- EY (Ernst & Young)
- Goldman Sachs
- PwC (PricewaterhouseCoopers)
- L’Oréal Group
- J.P. Morgan
Interested in more global insights? If yes, click here to download the PDF report.
Interested in a regional or country ranking? If yes, click here and scroll down the page for “Choose region” or “Go to country page.”
Each year, Universum publishes the results of its extensive surveys in various fields and countries/regions. This post covers Universum’s 2016 survey of more than 72,000 U.S. students (more than 20,000 business majors) at 359 universities and colleges about the most attractive employers for those interested in business careers.
For job candidates, the benefits of these surveys is obvious. But they are also essential for potential employers too. According to Universum:
“Today’s businesses operate in a highly competitive employment landscape, and you can gain valuable insight into how your organization is perceived by tomorrow’s workforce with the results of Universum’s 2016 Most Attractive Employers ranking based on student talent in the USA.”
Here are the top most attractive employees, based on Universum’s U.S. survey. [Number 10 is an especially interesting choice]:
As we noted in a prior post, according to the Pew Research Research Institute: “Millennials have surpassed Baby Boomers as the nation’s largest living generation, according to population estimates recently released by the U.S. Census Bureau. Millennials, whom we define as those ages 18-34 in 2015, now number 75.4 million, surpassing the 74.9 million Baby Boomers (ages 51-69). And Generation X (ages 35-50 in 2015) is projected to pass the Boomers in population by 2028.”
So, given the huge size of the Millennial generation, what are its prospects for producing successful entrepreneurs?
Bob Horton reports for Online MBA Page that:
“Millennials may end up being the greatest entrepreneurial generation ever. Just think about it for a moment.”
“Digital natives have the upper hand in our tech centered world. The on-demand, plugged-in, Millennial generation is influenced differently than previous generations and molded by global happenings in real-time. Smartphones have provided improved tech resources over the last 10 years. Ready-made distribution platforms allow for quick tests of ideas, e.g., Etsy, Ebay, and Amazon. ‘Crowdfunding’ has enabled entrepreneurs to raise capital from online sources, rather than relying on traditional sources like banks to grow their business.”
“Independence is more important than a corner office. 67% of Millennials report their goals involve starting their own business. Only 13% report their career goal is to climb the corporate ladder to become CEO/president. Creative freedom is the key to real happiness. Since 1985, entrepreneurship classes on the university level have increased 20X, so educational exposure is at an all time high for Millennials.”
“Collaboration and coming together around great ideas rocks. Making a difference in the world is HUGE. 79% of Millennial employees who volunteered through a company-sponsored initiative felt they made a positive impact. 57% of Millennial employees want company-wide volunteer opportunities. There is purpose over profit.”
Scenario planning involves planning for the future by understanding that different marketplace outcomes may occur in response to any strategy and that each possible marketplace outcome must be planned for to avoid the worst case scenario.
Here’s a simple example: Suppose that a major soda company introduces a new non-carbonated cola beverage into the marketplace. These are just a few scenarios that are possible:
- The sales of the new beverage meet expectations and do not cannibalize the sales of other company products. Overall company revenues and profit rise.
- The sales of the new beverage meet expectations, but slightly cannibalize the sales of other company products. Overall company revenues and profits rise slightly.
- The sales of the new beverage meet expectations, but greatly cannibalize the sales of other company products. Overall company revenues stay the same, and profits fall somewhat due to the investment in the new item.
- The sales of the new beverage do not meet expectations and do not cannibalize the sales of other company products. Overall company revenues rise very little, and profits fall a lot due to the investment in the new item.
The premise of scenario planning is to anticipate the possibility of each of these outcomes occurring and have in place a pre-planned framework (contingency plan) to deal with each scenario.
Recently, Shardul Phadnis, Chris Caplice, and Yossi Sheffi wrote an article for the MIT Soan Management Review titled “How Scenario Planning Influences Strategic Decisions.” The authors reached three major conclusions:
- “The use of multiple scenarios is not necessarily an antidote for overconfidence. One should not assume that simply using multiple scenarios to evaluate a long-range decision will help alleviate the negative effects of decision makers’ overconfidence in their own judgment.”
- “Scenarios influence judgment — and their content matters. More than half the judgments in our studies changed after single-scenario evaluations. Scenario users became more favorable of investing in an element — either by increasing confidence in their original recommendation to invest, decreasing confidence in their original recommendation to not invest, or changing their recommendation to favor the investment — when they found the element useful in a scenario.”
- “The use of multiple scenarios can nudge executives towards more flexible strategies. Executives often choose strategies optimized for a particular environment. While such strategies may perform well in the environment envisioned at the time of their implementation, they may not be easily adaptable to new opportunities or in response to unexpected threats. Under such circumstances, evaluating strategic decisions using multiple scenarios can help executives appreciate the importance of choosing more flexible assets or approaches — even if doing so is not the most optimal choice for present-day conditions.”
Click the image to access the article.