Cultivating the Next Generation of Leaders in Greater Philadelphia

Cultivating the Next Generation of Leaders in Greater Philadelphia A SURVEY OF EMERGING MID-CAREER PROFESSIONALS

Co-developed by the Chamber’s Education & Talent Action Team and Young Professionals Council, the Cultivating the Next Generation of Leaders in Greater Philadelphia Survey was designed to better understand the regional, professional and personal motivators of the region’s emerging mid-career professionals.

The survey was open for response between September 27, 2016 and January 9, 2017. We received 1188 responses; with 830 respondents falling within the age range we have identified as emerging mid-career professionals. These young professionals, aged 25 – 39, are at key junctures in their personal and professional lives. It is critical that we understand what opportunities and drivers will retain this talent in our region.

830 SURVEY RESPONDENTS BREAKDOWN BY AGE

25 – 29 39.4%

30 – 34

335

327

40.4%

168

35 – 39

20.2%

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RESPONDENT DEMOGRAPHICS BORN & RAISED:

Bachelors 49%

WITHIN THE 11-COUNTY GREATER PHILADELPHIA REGION

Masters

50%

45%

EDUCATION

OUTSIDE THE REGION

50%

High School / Some College

YEARS IN REGION: 16%

25%

59%

0 – 2

3 – 5

6 +

4%

PhD 2%

WHERE THEY LIVE

WHERE THEY WORK

BY COUNTY

BY COUNTY

2%

2%

8%

7%

62%

4%

75%

3%

8%

6%

3% 1%

1%

1%

5%

1% 1%

6%

OTHER / UNKNOWN

1%

OTHER / UNKNOWN

3%

WHAT THEY DO MARKETING/COMMUNICATIONS/PR

GENERAL MANAGEMENT

FINANCE/ACCOUNTING

11%

15%

LEGAL

8%

15%

5%

10%

SALES/BUSINESS DEVELOPMENT

6%

CONSULTANT

ENGINEER/ ARCHITECT/ DESIGN/ CONSTRUCTION/ RESEARCH

FOR-PROFIT: 58%

C-LEVEL/ EXECUTIVE GOVERNMENT MANAGEMENT AFFAIRS

NON-PROFIT: 37%

4% 5%

HUMAN RESOURCES

OTHER

3%

3%

EDUCATOR

12%

3%

INFORMATION TECHNOLOGY

EMPLOYER TYPE

GOVERNMENT: 5%

WHO THEY WORK FOR PROFESSIONAL, SCIENTIFIC, AND TECHNICAL SERVICES

INFORMATION TECHNOLOGY, MEDIA, TELECOMMUNICATIONS

EDUCATIONAL SERVICES

23%

12% 12%

FINANCE & INSURANCE

7% 10%

HEALTH CARE AND SOCIAL ASSISTANCE

6%

MANUFACTURING, UTILITIES, CONSTRUCTION

6%

ARTS, ENTERTAINMENT, HOSPITALITY, ACCOMMODATION

5%

PUBLIC ADMINISTRATION

5%

REAL ESTATE

OTHER SERVICES

4%

WHOLESALE/ RETAIL TRADE, TRANSPORTATION, WAREHOUSING

NUMBER OF EMPLOYERS THROUGHOUT CAREER

ONE

11% AVG. FOR AGES 25 – 29

2.6

TWO

26% AVERAGE NUMBER OF EMPLOYERS THREE

28%

FOUR

17%

FIVE OR MORE

18%

10%

3

AVG. FOR AGES 35 – 39

3.6

REGIONAL MOTIVATORS The many amenities that make Greater Philadelphia so appealing — among them accessibility, affordability, robust cultural offerings, and a talented workforce — have all contributed to making the region a thriving talent hub. It’s important to understand what regional motivators impact young professionals’ decision to continue to call Greater Philadelphia home.

THRIVING IN GREATER PHILADELPHIA

Over 93% OF RESPONDENTS think their next job could be in Greater Philadelphia.

“ YES”

“ MAYBE”

67%

26%

“ NO”

7%

TOP 3 MOST IMPORTANT REGIONAL FACTORS

1

SAFETY

2

AFFORDABILITY

3

RENT/HOME PRICES

THOSE AGED 25 – 29 tended to rank SAFETY lower than older respondents.

Over 97% OF

TOP 3 REASONS TO CONSIDER LEAVING THE REGION

1

PUBLIC SCHOOLS

2

AFFORDABILITY

3

RENT/HOME PRICES

RESPONDENTS

would recommend Greater Philadelphia as a place to live.

PROFESSIONAL MOTIVATORS Greater Philadelphia is comprised of many diverse industries and employment opportunities for the region’s young professionals. Key to engaging and retaining these individuals is to understand what motivates them to stay and grow at a particular place of employment or leave that employer for new opportunities.

REASONS RESPONDENTS WOULD LEAVE THEIR CURRENT EMPLOYER % OF TOTAL RESPONDENTS

INCOME /SALARY

RESPONDENTS HAVING HELD 3+ JOBS

83%

OPPORTUNITY TO GROW

73%

WORK /LIFE BALANCE

viewed INCOME /SALARY as less important

66%

COMPANY CULTURE

63%

FLEXIBILITY

46%

FINANCIAL STABILITY CORPORATE RESPONSIBILITY

TOP 3 FACTORS WHEN CONSIDERING A NEW EMPLOYER

35% 23%

RESPONDENTS FELT MOTIVATED AT WORK BY

Professional Advancement

1 2 3

OPPORTUNITY TO GROW COMPANY CULTURE INCOME /SALARY

FOR RESPONDENTS AGE 35 – 39:

1 2 3

44%

Personal Fulfillment 34%

Civic Engagement 19%

COMPANY CULTURE OPPORTUNITY TO GROW WORK/LIFE BALANCE

Other 3%

PERSONAL MOTIVATORS Greater Philadelphia is a place that delivers purposeful engagement for the region’s current and future leaders. Our young professionals are motivated by the desire to give back to their communities and are eager to find the right balance of civic engagement, professional development, and social connections.

HOME OWNERSHIP

GIVING BACK

CURRENT HOME OWNER

PLAN TO BUY IN 3 – 5 YEARS

42%

29%

UNDECIDED

20%

DO NOT PLAN TO BUY

9%

71% OF RESPONDENTS own a home or plan to buy in the region.

BREAKDOWN BY AGE CURRENT HOME OWNER

PLAN TO BUY IN 3 – 5 YEARS

25 – 29

40%

30 – 34

UNDECIDED

DO NOT PLAN TO BUY

27%

51%

35 – 39

21%

24%

66%

17%

12%

19%

6%

11%

6%

IMPORTANCE OF PURSUITS DURING OFF-WORK HOURS

NOT IMPT.

VERY IMPT.

FAMILY, FRIENDS, COMMUNITY

NOT IMPT.

VERY IMPT.

CITY / CULTURE

NOT IMPT.

VERY IMPT.

LEISURE & RECREATION

NOT IMPT.

VERY IMPT.

SOCIAL NETWORK

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