How Should Companies Connect to the Next Generation of Talent?

Pearson Futures

Last year, we asked over 1,000 HR leaders and hiring managers what types of jobs are hardest to fill and 37% said that they struggle most with hiring those who are just getting started in the labor market. To put that in perspective, according to these business leaders, entry level talent is actually harder for them to find than executive level talent. Similarly, when it comes to retaining entry level talent, things appear to be even more difficult: 43% (the highest percentage) report it as their top struggle. This seems counterintuitive. How can it be harder to hire people with little-to-no experience, where you can presumably have your pick of the litter, vs those at the executive level, where there is a much smaller candidate pool?

What can businesses do to connect to early talent?

If your business is having a hard time connecting to a new generation of workers, here are some of the key things you need to know. First, in a 2023 survey conducted by XXXX of XXX high school students confirmed that they aren’t necessarily avoiding you for lack of interest. On the contrary, the majority of high schoolers (59%) said they would be open to working in an industry they hadn’t previously considered if a company in that industry reached out.

The fact is, high schoolers are actually very open minded when it comes to their future careers. A major factor is simply whether or not a company has expressed interest in them. To better understand this, we asked students if they would apply for jobs at companies that they have very little interest in or awareness of. As many as 64% of high school students surveyed said they would apply to jobs at specific businesses in unfamiliar industries if those businesses made an effort to get to know them. All of this illustrates that businesses can command a lot of interest if they get in front of early talent, well… early. In other words, if industries show, express interest, and communicate with students, it immediately starts to create a future talent pipeline.

So, what are the best ways to engage high school students? What should you talk about when you do? There’s frequently a big disconnect between generations. Such differences are often easy fodder for comedians and can make for some well-known memes. 

You might even think that you need to do all sorts of gimmicky, cringy things to appeal to the youth of today. But fear not. You don’t. And… you shouldn’t.

Here is a quick list of what will make your business really appeal to today’s high school students.

Skill

Even before knowing about pay, an impressive 76% of the students we surveyed would be more likely to work at your business if they knew what skills they would develop by working with you—even at an entry level job. Once you recover from your shock that Gen Z is actually thinking about skills (much like many businesses are), you should make sure you have a good answer to this question. Do you place a heavy emphasis on communication and customer service?

Do you help them gain technical skills like product development, money management, or account management? Gen Z wants to know. The skills conversation has been front-and-center in the workforce-education world for several years now and it appears to have trickled down into the high school audience. They are very aware that they need a wide range of marketable skills if they want to do well, and are keen to find those skills via entry level positions that businesses are willing to offer.

Compensation

The only thing surprising about this is that it wasn’t first. High school students are motivated by the desire to make good money and 67% of the people we heard from mentioned money as key to engagement. A 2023 article in the Guardian outlines the increasing pressure and anxiety that high school students (and younger) have about money. If you want to engage high school students, be prepared to talk about money: how much do you pay for entry-level jobs? For apprenticeships? Internships? Further, because skills are so top-of-mind, many students will likely be willing to trade some money for experience and the opportunity to gain real-world skills. Just be clear about the value of the skills they’ll learn, and be prepared to offer them some level of compensation. The days of the free or overly-low paid entry level job are over.

Even before knowing about pay, an impressive 76% of the students we surveyed would be more likely to work at your business if they knew what skills they would develop by working with you—even at an entry level job.

Location

As the old-adage says, location, location, location. Here is the thing to note: many students today would prefer in-person work over an entirely remote situation. It is hard for them to build relationships and gain hands-on experience if all of their work is remote, so be ready to talk about your location and what it has to offer. Or if you are totally remote, be ready to talk about how you will help them with the ins-and-outs of remote work.

Internships and Apprenticeships

58% of the students surveyed would be more likely to engage with you if you offered internships and apprenticeships. In another article we recently wrote, we delve into the fact that the greatest hurdle for young talent is simply figuring out what to do. Internships and apprenticeships offer a low-risk, high-reward way for students to dip their toes into a particular industry. And given the importance they place on skills, experience, and building valuable relationships, it’s no wonder that internships and apprenticeships are highly attractive to young job seekers.

Paying For College

56% of the students we heard from would engage with your business if you helped them pay for college or offered learning and development opportunities. This echoes a 2022 survey from Junior Achievement USA and Citizens Bank, which found that 54% of teens are worried about “financing their future.” Students are aware of the importance of education, know that college is increasingly pricey, and are on the look-out for alternative ways to offset those costs. Businesses that will help them with their education and learning will gain a ton of affinity and will see a lot of success in engaging a new generation of talent.

Mentorship

Much like internships and apprenticeships, mentorships are a great way to engage early talent. Some 40% of the students surveyed said they would be more likely to apply for jobs if they could be mentored. Beyond the simple experience offered by other programs, mentorships can go a long way in assuaging the fears of students who are unsure about their future, or haven’t yet built up the confidence to pursue a particular direction. Of course, they may require additional resources, but that extra effort could easily win talent that’s more committed and loyal to your business in the long run.

Summary

Establishing relationships with students early on could be the single biggest factor in  developing and retaining talent long term. For the sake of their current and future workforce, businesses that introduce themselves earlier in the game stand to win. We live in a world where more businesses (and entire industries) have the opportunity to come to students and parents directly. This will allow them to inform many of the tough conversations that families are having about what their students should do, how they should get there, and whether or not the traditional four-year college route is right for them.

Creating mutually beneficial and cooperative opportunities like skill-developing entry level jobs, apprenticeships, internships, mentorships, scholarships, and tuition assistance programs is more than a short-term good deed. It is a long-game investment in people that will pay massive dividends. While colleges and universities have traditionally been at the forefront of marketing and recruitment, businesses and industries that want to build better relationships with a new generation of talent can benefit by running the same play. Several models for recruitment already exist online and on-campus, yet perhaps even new models for industry can be established to market this “win-win” to students directly, locally and nationally. Apprenticeships, internships, scholarships, or tuition reimbursement programs are enticing long term options for both parties.

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  • A Beginner’s Guide to Finding a Scholarship
    By Pearson Futures

     

    If you are a high school student considering college, chances are you also have questions about scholarships. This probably has a lot to do with the fact that the cost of college has increased by nearly 37% over the past 15 years, with the average price of tuition being $38,000 per year—that is, unless you have some type of help or financial aid. So, do you stand any chance of getting a scholarship? What exactly is a scholarship? Who provides them? How do you apply for one?

    Let’s start with the basics.

    What are scholarships?

    Scholarships are essentially gifts or free financial aid designed to help qualifying students pay for postsecondary education. They are financial assistance that students and their families do not have to pay back. For the most part, scholarships are awarded based on merit (academic, athletic, or skills/abilities), need (financial or other special needs), or demographics (race, gender, or ethnicity).

    The latest research estimates that around 1.5-1.8 million scholarships are awarded to U.S. students each year. Many scholarships come in the form of needs-based aid issued by the federal government. These are called Pell Grants, which are largely for students from lower-income families. Nearly $40 billion is issued via Pell Grants annually. (More on Pell Grants below.)

    Another $8–$10 billion in scholarships is merit or demographic-based, and is provided by colleges, businesses, local governments, non-profits, foundations, churches, and even private individuals.

    Despite these numbers, applying for a scholarship can feel daunting. And the truth is, a relatively small number of students (estimated to be around only 10%) obtain scholarship money from non-Pell merit or demographic sources.

    Who provides scholarships?

    Any individual or any type of organization—business, a college, a government, a non-profit, a family foundation, a community-based organization, etc. can provide a scholarship. This means that the types of scholarships are highly varied, which might explain why it is a struggle to know how to land one.
    Here’s a quick review of the major sources.

    • The Federal Pell Program - The first source you will likely encounter is the Pell Grant Program, mentioned earlier. These funds are available for undergraduates “who display exceptional financial needs.” To apply for a Pell Grant, students must fill out a free application for federal student aid (FAFSA). For the most part, Pell Grants do not need to be repaid. The amount you can receive varies based on a student’s financial need and background and whether they are full-time or not. The maximum amount a student can receive is around $7,000 per academic year.
    • Colleges and Universities - Another likely provider is the college or university you are interested in. According to the National Center for Education Statistics, higher ed-based scholarships are “outright grants-in-aid, trainee stipends, tuition and fee waivers, and prizes awarded by the institution, including Pell grants.” Some of these scholarships are state-based, especially if the college you are applying to is a state college or university. Colleges can also have their own scholarships that award students based on academics, athletics, or achievement in areas like music or engineering.
    • State Government - State-based scholarships can be issued by organizations like the state department of education, labor, or even commerce. They also generally fund students based on merit, need, and demographic considerations. The Education Data Initiative has compiled a list of state-based scholarships if you would like to learn more.
    • Corporate (or Business-Based) Scholarships - Businesses and their associated foundations fund numerous scholarships each year. In many cases, successful businesses have established separate foundations just to help administer scholarships with the hope that more students will pursue particular fields of study. Some of the more well-known corporate scholarships are the Dell Scholars Program, Amazon Future Engineer Scholarship, Coca Cola Scholars Program, and Microsoft Imagine Cup. Numerous fast-food chains (i.e. McDonalds, Burger King, and Taco Bell) offer large scholarships as well.

    In addition, a huge number of professional, community-based, and religious organizations, not to mention family foundations, issue scholarships.

    How should you start your scholarship?

    Here’s a few good rules of thumb. Start with a simple checklist. This can help you narrow in on scholarships that are a better fit.

    For instance, think about the following:

    • Interests. Do you plan to go into engineering, healthcare, the arts, or business? Narrowing down your interests will help you find scholarships that support related activities.
    • Location. Do you plan on staying in the state? If so, there are a good handful of state-based opportunities to consider.
    • Need. If you come from a lower-income background or have significant financial needs, you will likely be able to get some money from state or federal grants.
    • Abilities. Do you have good grades? Have you done well on standardized tests? Have you developed unique and outstanding abilities in athletics, the arts, or a specific career-oriented field (especially STEM)? If so, there are a lot of different scholarship possibilities based on your merit.
    • Demographics. If you are a minority, there are many scholarships that are looking to support you.

    Next, you should also gather or create the following. Pretty much every scholarship requires these items.

    • Background on your school, GPA, and transcript. This one is obvious. Have all of your academic records ready to share.
    • Tax forms. Scholarships often require you to know your family’s household income.
    • Recommendations. Think about people in your life—teachers, employers, coaches—who would be willing to recommend you and can vouch for your work and character.
    • Honors and awards. Have a list of honors you’ve achieved, and be sure that they are able to be independently verified. In this case, have the actual document handy.
    • Resume. If you haven’t yet, now is a good time to create a resume.
    • Essays. Most scholarships want you to write about your background, interests, and aspirations. While you might not need to write these until you are filling out the application, be ready to produce them. (Do not use AI in your compositions. Reviewers are savvy enough to know when the writing has been produced by a bot instead of a real person. They also employ AI detection tools in their essay reviews.)

    How to increase your chances…

    And here is one more checklist to follow if you want to increase your chances when you start applying. Show that your college education is worth investing in!

    • Grades. Obviously, maintaining good grades is a good idea if you want to win any type of scholarship. Remember, the people giving out the awards want to know that you are a serious student and will have a high chance of succeeding if they grant you a scholarship. In most cases, the funders view the scholarship as an investment in the development of people who will be highly productive.
    • Participate in school and community activities. Beyond doing your schoolwork, be well-rounded. This means taking an active role in things like sports, clubs, career and technical student organizations, and other extracurricular activities.
    • Start early and set aside time to work on your scholarship search and application. Most students delay their scholarship search until they get accepted into college. This can work, but we recommend that you research and even apply for scholarships years prior—as early as 8th or 9th grade. Not only could you take advantage of scholarships for high school students, but you could also use your high school years to figure out which college-level scholarships make the most sense to pursue. (Carson Scholars awards students $1,000 a year as early as 4th grade. The idea here is that parents can use the scholarship to put money in the bank for their child’s future education.) Bottom line, the best advice here is to set aside time to pursue scholarships early. As with many things, you get back what you put in.

    Also, it is a good idea to avoid the easy scholarships that generally do not require you to write anything or to provide much background or statements about your interests. These usually don’t provide much funding and might be scam offers simply trying to harvest your contact information (or worse!).

    When should you apply for college scholarships?

    In general, junior year of high school is the best time to apply for college scholarships. You should also check with your high school about what opportunities they are hearing about and when applications open for submissions. In many cases, scholarship providers will share information with schools with the hope that more students hear about their opportunities.

    For the most part, applications open around the beginning of a school year (September/October) and run through the spring (April/May). In some cases, you have to apply for a scholarship a year in advance. So, if you want to win a scholarship when you are in your senior year of high school, you should be working on applications in the fall and spring semesters of your junior year.

    Again, you can and probably should start to get familiar with scholarships as early as your freshman and sophomore years. Basically, use your early high school years to familiarize yourself with the available scholarships, and learn what you need to do to apply.

    How do I find scholarships?

    Beyond Pell Grants and state-based scholarships, which are easy to find with simple online searches, most scholarships are housed on scholarship search engines. This is why Futures is pleased to announce the launch of a new scholarship portal. We have partnered with Scholarship America, FIRST, and a number of universities to bring you millions of dollars in scholarship opportunities.

    • Create an account (it takes less than 2 m
    • inutes).
    • Click the Find Scholarships tab.
    • Use filters to find the best opportunities for you (filter by location, amount, and grade level).
    • Save your favorites (you must have an account to save) and we’ll notify you via email as your saved scholarships open and close.
    • Come back often to check out new opportunities.

    Happy searching and good luck!