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Work in London - An Emerging Leaders Perspective

Work in London - An Emerging Leaders Perspective

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What we've learned . . .
What we've learned . . .

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Published by: The London Free Press on Jul 16, 2012
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 Work in London
 An Emerging Leaders Perspective
Work in London - An Emerging Leaders Perspective
Prepared by Sean Quigley, Executive Director, Emerging Leaders London Community Network -info@emergingleaders.com
 
 What weve learned
 Why?
Emerging Leaders was founded with a focus on attraction, retention, and en-gagement of the 20 to 44 year old demographic. We focused our questions onthe availability and quality of work and how likely was it that respondentswould choose to remain in London. This survey gives a valuable snapshot ofwhere we are as a city and how this demographic views working and stayingin London.
Learning - other sources
According to a 2007 LEDC report titled
London’s Workforce - Historical Trends and Forecast for the Future,
London also significantly lacks people in the 15-24 years oldlabour force category. Our growth in this age group (-4.36%) is much lower than othercommunities.” It goes on to say, “It is logical to predict that if everything remains thesame, London will not have enough people to take up positions in the jobs vacated bythe retiring population.”We are aware the unemployment rate in London hovers around 8.6% but for the youthdemographic it is much higher, often 14%. As older members of our workforce were hitby the decline of the economy and were displaced from their jobs they sought employ-ment at lower levels of job entry. The greatest increase in employment is seen in the45+ demographic.
 What we learned from this surve
Of the 280 respondents, 83.7% were between the ages of 20 and 44, and of these47.9% were between the ages of 30 to 44. We also know that the majority, 63.9%, had aBachelor’s degree or higher and that 58.4% of them had full time employment. While60% of respondents have full employment 21.6% are unemployed or
 
underemployed,and 70.6% reported that it was somewhat or very difficult to find
 
employment in thecareer of their choice in London. Of note is the 20.6% of respondents who said theywere not likely to remain in London in the next 10 years and the 36.5%who said theywere only somewhat likely to remain in London over the same time frame.
Work in London - An Emerging Leaders PerspectiveWork in London - An Emerging Leaders Perspective
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Qualitative Analysis - What else respondents wanted us to know 
We asked respondents “Is there anything else you want us to know about your workexperience in London?” Overwhelmingly the comments reinforce the difficulty of findingwork in London, with a number of comments underlining that respondents leave Londonfor work opportunities in other cities.We some of the recurrent themes were of low paying work, difficulty finding work unlessyou have a strong personal network, and the difficulty of moving beyond entry level andmid level management positions into more senior roles.Of note were also the comments concerning difficulty finding work due to lack ofexperience. This would seem to reinforce the growth in segments of the older labourmarket and the success of the older demographic in finding work.
Conclusion and Next Steps
Emerging Leaders believes that the single greatest deterrent to sustained growth is theloss of talent amongst the 20 to 44 year old workforce in London. We recognize, as doothers, that there is an urgency around creating partnerships to keep and attract thiscritical demographic within London. Without this effort we will continue to underperformcompared to other cities in our area.Over the summer Emerging Leaders will consult with Government, our communitypartners, and our membership to create options to partner and move forward. At ourAnnual General Meeting, September 13th 2012, we will announce the results of ourconsultation. 
Note: The following pages contain the information collected from our survey 
Work in London - An Emerging Leaders PerspectiveWork in London - An Emerging Leaders Perspective
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