JA In The News | Junior Achievement of Southern Massachusetts

What will community volunteerism do for your work family?

America’s Charities reports that the average business turnover rate in all U.S. industries is 15.1% with those making under $75,000 or less a year, costing $15,000 to be replaced. That is hard-earned money that is being taken out of the budget to find someone who may or may not be the right fit for the position. In this era of hiring, it is more important than ever to invest in your employees from an individual AND work-community standpoint. The best way to knock out these two standpoints with one stone? Volunteering! Check out the following benefits volunteering has on your company and on those who make up your business.

Improved Connectivity and Performance

According to a PwC study, 10% to 15% of the world workforce reports feeling unsatisfied within their workplace dynamic. In turn, only 4 in 10 employees are planning on spending at least another year at their current jobs. Yet, through volunteering, employees have the ability to feel more “connected” to their co-workers and executive teams. A large component of employee performance is not only one’s passion for his or her work, but also an environment that harnesses challenges. Volunteering provides employees with an opportunity to impact their local community by coming together with their professional family. It is with challenges in a group setting that connectivity is formed and therefore provides a foundation that an employee feels committed to. In fact, committed employees have been found to put in 57% more effort into their job and are 87% less likely to resign.

Investing in Skill Building

By encouraging your employees’ input in volunteer efforts for your company, you are providing them with the ability to take on leadership roles that in turn build experience. Through various community efforts, employees are moved from their comfort zones to work with others to solve challenges in order to achieve goals. Collaboration, self-awareness, and leadership skills are just a few of the many skills that are exercised through volunteering. Professional skill-building should not be limited to those looking to be hired, skillsets should also be harnessed within one’s work environment.

Attract Future Employees

A Deloitte study found that almost 9 in 10 (89%) employed Americans believe that companies that encourage volunteer activities offer a better workplace than companies that do not. Corporate Social Responsibility (CSR) can not only serve to benefit your company when seeking employees, but it can also serve to benefit your sales. A 2017 Cone Communications Survey found that 87% of Americans will purchase a product from a company advocating an issue they care about. If making a difference can sell your product or service, why wouldn’t it sell your company to a possible job candidate?

Harnessing Charitable Giving

In this day and age, Millennials make up 1 in 3 labor force participants in the United States, making them the largest labor force generation that America has ever seen.  Further research conducted by Cone Communications, revealed 2 out of 3 millennials will not consider taking a job if the company does not have strong CSR values and 9 in 10 reported they do a better job in CSR-friendly environments.

Final Thoughts

With all the benefits of volunteering, one thing is for certain -- providing volunteer opportunities not only helps your company in the eyes of potential candidates and consumers, it also fulfills the professional desire in your employees to make an impact in their local communities.

New 2018 research conducted on behalf of Junior Achievement and Ernst & Young LLP (EY) illustrates how in just one year after first being surveyed, high school age teens’ career ambitions have shifted further away from careers in STEM and the arts and how more 13-17-year-old students are expecting to take out loans to help pay for college.

• In a significant drop, 24% of boys want a STEM career, down from 36% in 2017; girls’ interest remains unchanged at 11%, year-over-year.
• Among girls and boys, desires for careers in the arts dropped from 18% to 13%.
• The percentage of teens expecting to take out a student loan increased from 33% to 45%.

Career choices that have risen in popularity include the medical and dental fields, as well as public service, illustrating that what kids find most appealing about their dream job is that they are “good at it” and can help people.

• Careers in medical and dental fields increased from 15% to 19%, with girls far more likely to choose this path.
• Interest in careers in public service increased from 7% to 10% overall.
• Starting one’s own business (8%) and careers in business (7%) remained the same.

According to kids, their parents still hold the top spot in terms of who or what influences their choice of dream job. Parents’ influence, in fact, increased from 19% to 28% since last year. Societal influences such as social media declined from 15% to 8%. Other sources of inspiration include teachers, courses, volunteering and extra-curricular activities.  

“Teens today report they are leaning toward jobs that highlight their capabilities, as well as careers that offer altruistic outcomes,” said Jack Kosakowski, CEO & President of Junior Achievement USA. “As parents, educators, mentors and counselors, we need to continue to give students the skills to become more proficient in the areas in which they need to advance and grow, as well as show them how all types of careers provide opportunities to benefit society. JA volunteers, who come from all fields, help students make these types of connections about what they are learning in school and what they need and want to succeed at work and life.”

The survey data implies that teens today are viewing the economy as improving. One year ago when this same Junior Achievement-EY survey was conducted, the percentage of teens who were changing career plans based on the economy was 52%. Today, that number has decreased to just 40%. Fewer teens also plan to get a job and go to school at the same time – 22% this year vs. 30% in 2017. However, some data contradicts teens’ awareness of economic conditions.

• The number of teens who have taken a financial readiness class decreased from 33% to 28%.
• 81% of teens would take a work/financial readiness class if it was offered to them.
• The percentage of teens that have a bank account decreased to 52% from 59%.
• 43% of teens expect their parents to pay for college, up from 32% in 2017.

“With teens beginning to join the workforce and looking ahead to future careers, the timing is right to work with them to build and strengthen financial literacy, entrepreneurship and work readiness skills,” said Gary Kozlowski, Partner, Ernst & Young LLP, who leads a network of EY leaders serving on more than 40 local JA boards across the US, Canada and the Caribbean. “I was surprised to see a reduced interest in STEM careers, which are taking on larger and more important roles in the transformative age in which we are living. Together, EY member firms and JA can team to help strengthen these critical skills for the workforce of tomorrow.”

Other Data Points

• 88% of 13-17-year-olds know what kind of job they want after graduation.
• The two skills kids would like to learn most to prepare for their dream jobs include technology and relationship building.

Methodology

This report presents the findings of ORC International’s Youth CARAVAN survey conducted among a sample of 1,000 13-17-year olds.  This survey was live from February 27 to March 6, 2018.                             

Respondents for this survey are selected from among those who have volunteered to participate in online surveys and polls.  Because the sample is based on those who initially self-selected for participation, no estimates of sampling error can be calculated.  All sample surveys and polls may be subject to multiple sources of error, including, but not limited to sampling error, coverage error, error associated with nonresponse, error associated with question wording and response options.

As Zachary Robles walks on to shake the president’s hand of Kent University, his smile is not only for being the first generation to complete a Bachelor’s Degree in Management, but for the pride he feels for having made an impact in his local community.

Managing full class schedules and contemplating future career paths, Robles made time to teach Junior Achievement programs in his local community. JA wanted to know how does a driven, hard-working college student fit JA into his life. This is what we found out!

JA: First off, congratulations on graduating from Kent University! What an accomplishment! With all of the extra-curricular options on campus, what made you choose JA?

Robles: Thank you for the best wishes on graduation. I’ve been through a lot and it still amazes me that I had the opportunity to complete something that hasn't been done in my family before. I'm the first generation to complete a Bachelor's Degree in Management. 

Simply put, I have pride in the next generation. I have tons of experience working with today's youth, from being a counselor to working as a mentor, along with 3 years of working with Junior Achievement. My main goal with doing Junior Achievement: Showing kids that it is important to make smart choices, because before they know it, they will be where I am at. I love to share my knowledge of business (and life) with them and if I can guide at least one kid to be successful, I can go to bed happy. 

JA: Wow! We love knowing young professionals, like yourself, believe in our mission! How do you feel the curriculum benefited and resonated with the students?

Robles: With the curriculum, I am beyond pleased with the resulting product Junior Achievement established. From my experience, my students always looked forward to each lesson, and they asked a TON of questions.

This type of engagement is what we need. Outside of the educational setting, I always have parents/teachers come up to me when their child recognizes me and say thanks for my work with the program. To sum up: This program, in my professional opinion, is very successful here in northeast Ohio. 

JA: As you have been a volunteer with JA for quite a while, do you have a favorite lesson or a favorite student engagement hack?

Robles: From my experience, I always LOVED lesson 4. (The Debit Card/Credit Card Savvy Shopper). Every time I teach this lesson, I actually make an amendment with the lesson and have the class work in groups. Here, I encourage the groups to work together for the answers, as I like to challenge that if each group gets X amount of questions right, I will reward them with donuts personally hand-delivered from me. This gets everyone excited and engaged. 

During the next period, I will review the material with them and once they answer the last question correctly, I like to "trick" them to think they got it wrong by walking out of the room for a second and coming back in with donuts as a reward. My teachers I was partnered with love this, as it adds a little comical twist to the curriculum. 

I can go on about how wonderful this program is. I will go even as far to say that if I am still in the area for the next couple of years, I will continue to teach it. Junior Achievement does an excellent job, I can't praise the organization enough. 

From all of us at Junior Achievement, congratulations Zachary for graduating and thank you for giving your time to set youth up for success in your local community. We cannot wait to hear about your accomplishments that lie ahead!

The Summit is Junior Achievement’s opportunity to celebrate the achievements of students from across the United States.

JA Companies develop and market a  product or service with the goal of realizing a profit for their shareholders. Reaching over 10,000 U.S. students during the 2016-17 school year, the JA Company Program gives teens the skills to start and run their own businesses under the mentorship of a local business volunteer.

This pinnacle event brings together 15 JA student companies to our nation's capital for three days of high-impact JA experiences.

The Summit features the JA Company of the Year powered by The Hartford, Delta Social Impact Award, the EY Innovation Award, the FedEx Access Award, and the ICE NYSE Foundation Best Financial Performance Award.

SPONSORS & JUDGES

Junior Achievement is thankful for the generous support received to execute the 2018 National Student Leadership Summit. 

The 2018 National Student Leadership Summit was made possible by our sponsors -- The Hartford, Delta Air Lines, EY, FedEx, and the Intercontinental Exchange, which owns the New York Stock Exchange.

JA COMPANY OF THE YEAR, powered by The Hartford

JA Company of the Year Winners Beelieve Inc.

Second Place Winners, DEFY.

Third Place Winners, Silicube.

DELTA SOCIAL IMPACT AWARD

Awarded to recognize the best JA Company that provides a solution to a local, national, or global problem.

Five finalists were identified at the 2018 NSLS Gala including Beelieve, BlockchainGirls, DEFY, Grater Paper, and Solupal.

Out of the five finalists, Beelieve, representing Junior Achievement of East Central Ohio, took home the 2018 Delta Social Impact title and award.

Want to see more NSLS? Check out our JA Alumni Ambassador's video HERE! 

What is financial literacy?

Research conducted by the Program for International Student Assessment (PISA) found that one in five (22%) teenagers from the U.S. lack fundamental financial literacy skills. Basic skills that are included in financial literacy include the ability to budget, how to save, understanding the impact of credit and debt, investing to reach financial goals, and utilizing outlets like insurance companies in order to minimize future financial drains.

Why is financial literacy important for high schoolers?

While most high schoolers are not looking to invest their money for retirement, most high school students have or are experiencing part-time work, income and expenses, as well as setting future goals. At this stage in a teen’s life, it is crucial that they are looking towards financial goals they want to reach from higher education to a reliable car. With college around the corner, saving early will be a necessary step as well as understanding the process of taking out a loan. Students will also be expected to manage their money for the first time living on their own. As all of the responsibilities add up, it is crucial that high schoolers know how to manage their personal finances.

Teaching financial literacy to high schoolers

Teens know the financial responsibilities that lie ahead of them and they are eager to learn how they can manage all of them while attempting to do their own laundry. In fact, a study conducted on behalf of Junior Achievement and Ernst & Young LLP (EY) found 81% of teens would take a work/financial readiness class if it was offered to them. Which begs the question, how can you spark discussions with your students or child about preparing for their future.

Money Tools for….

 Parents and Teens at Home

• Break out your family Monopoly board to help your teen get hands-on with saving, spending and investing concepts or Game of Life  to let them test-drive a career and make their own financial decisions!
• Utilize the one thing that they ALWAYS have on them—their phone! Encourage your child to review their bank statements, explore options to start building their credit and seek out information about college loans.

 Teachers and High Schoolers in the Classroom

• Junior Achievement makes it easy for teachers to connect with their students with interactive programs like JA Personal Finance , JA Company Program, and  JA Finance Park!