Why the FMCG Industry Must Strive for STEM Talent

Why the FMCG Industry Must Strive for STEM Talent Sponsored article by Universum Link Humans. The Fast-Moving Consumer Goods (FMCG) industry is undergoing rapid change as local competitors gain market share at the expense of multinational brands. This is true across many categories of FMCG, including food and beverage, household products, and beauty and personal care. On top of this, there are constant mergers and acquisitions taking place, further highlighting the need for detailed insights into what talent will be required to drive FMCG companies and their products forward. Innovation as a driver of employer choice differs significantly between countries. For example, in Austria 59 percent of STEM students who want a job in FMCG identify innovation as a key factor, while in Thailand, only one in four do so. For business students aiming for FMCG jobs, joining a company with an attractive or exciting line of products and services is key: 46 percent say it’s a priority, compared to 34 percent of business students heading for other industries. For STEM students aiming for FMCG careers, attractive products/ services and a reputation for innovation are the most important aspect of an employer’s image. Research from Universum consistently shows that students prioritize training and development opportunities as an influence on employer choice. Business and STEM students hoping for FMCG careers prioritize good references above other remuneration and advancement factors. Today Universum and Link Humans launched “No More Business as usual”, a brand new eBook focusing on the FMCG industry and its need to strive for STEM (Science, Technology, Engineering and Mathematics) talent. How can HR executives in the FMCG industry attract and develop a new generation of talented workers? Which particular issues will influence people’s choice of employer? And what tactics will work most effectively to retain younger, high-value individuals? This report will explore these ideas and more as we examine the attitudes and goals of students aiming for a career in FMCG. “Change is the new normal and no more so than in the FMCG space. I have the pleasure of introducing this collaboration between Universum and Link Humans aimed at talent leaders in this sector and beyond” Said Link Humans Founder and CEO, Jörgen Sundberg. He continued “this report highlights the issues FMCG employers are facing today and looks into the future, thus allowing you to plan your talent attraction initiatives to meet current challenges and future proof your overall strategy”. Employers must take a regional approach to recruiting and retention This study has found that Innovation as a driver of employer choice differs significantly between countries. For example, in Austria 59 percent of STEM students who want a job in FMCG identify innovation as a key factor, while in Thailand, only one in four do so. STEM students who want jobs in the FMCG industry seek a work environment that is both friendly, and creative/dynamic. They are much more likely to prioritize a friendly work environment compared to STEM students bound for other industries. Again, bear in mind that views about a creative and dynamic work environment vary greatly by region. In Japan, for example, just 21 percent of STEM students who want jobs in FMCG cite it as a priority, while 40 percent of those from China and 55 percent of those from the US prioritize it. Why is STEM talent so important? Given the disruptive changes in the industry â€" such as the rise of new delivery models, and consumer demand for greater transparency around social and environmental issues â€" FMCG companies should consider going outside their industry for inspiration. This will allow them to see how other companies have managed disruption, and observe how they position their new vision to future employees. For the consumer goods industry, it’s essential to hire talent that can contend with the fast pace of change and drive future innovation, and it’s possible these individuals are attracted to industries other than FMCG. “For business students aiming for FMCG jobs, joining a company with an attractive or exciting line of products and services is key: 46 percent say it’s a priority, compared to 34 percent of business students heading for other industries” said Universum CMO, Jonas Barck. He continued “this further backs the argument for hiring more STEM talent, as they will be the people that create the products and services that lure the best business talent to an organization”. Methodology Each year Universum surveys the professional expectations of one million career seekers from 55 countries, and publishes dozens of reports on the top issues affecting global talent and the companies that hire talent. In this report, part of our Future Talent Insights Series, we uncover what university students look for in future employers in the consumer goods industry. We also show how companies can translate these findings into actionable steps for HR, recruitment and C-level leadership. In this study we segmented our research into two cohorts: business students and students in the science, technology, engineering and math (STEM) fields. To understand these two groups, we compare the attitudes and career goals of those who have indicated (from a possible three choices) a preference for a career in the consumer goods industry against those who say that the FMCG industry is not among their top choices.