Steve Rothberg over at collegerecruiter.com provides one of the clearest posts I have read regarding Gen Y and their job-hopping ways.  This is Steve’s area of expertise and this post lays it out in simple terms.  An excerpt (emphasis mine):

Gen X’ers like me who attended college two decades ago received our education for far less money than Gen Y’ers are paying. I paid $3,500 for tuition my last year in school. If the cost of that tuition were to double every seven years, that means that today’s student in that same program would pay $28,000. That’s disgusting. I graduated with about $20,000 in student loan debt. A Gen Y’er following in my footsteps would graduate with $160,000 in student loan debt. Folks, this generation is being swallowed by the debt that we’re allowing out-of-control higher education institutions to inflict. Gen Y job hops not because they want to and not because they don’t realize the problems that it creates for their employers and for themselves, but because they have to.

Read the whole thing.

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If you think you are experiencing hiring difficulties, be happy you are not on Wall Street:

Fresh off some of the richest bonuses ever handed out, investment bankers and traders, especially those who deal with leveraged debt, are in high demand. In some cases, bidding has driven newly hired employees into the arms of a rival in mere weeks.

That statement seemed like hyperbole until later in the article:

Securities-industry employment rose to 804,000 at the end of 2006 after a third consecutive year of increases. The employment figure is just 4% shy of the all-time high set in 2000, according to the Securities Industry and Financial Markets Association.

The market is tight everywhere and especially in sales.  Old hiring strategies are being left in the dust.  If you are sticking to a newspaper ad, good luck.  If you are posting a job description as an employment ad, be prepared to wait.  The changing market requires a process for effective sourcing and selection.

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