Gen Z seeks greater job stability, higher salaries, and a swift hiring process to remain loyal to their new employers!
Nicolas BEHBAHANI
Global People Analytics & HR Data Leader - People & Culture | Strategical People Analytics Design
?? When seeking full-time employment, Gen Z prioritizes job stability, competitive salaries, and a healthy work-life balance.
?? 61% of students who had already accepted an internship or full-time position continued to explore other opportunities afterward.
? 50% of students would be deterred from accepting a job if the interview process took longer than a month.
To successfully hire interns and new graduates, companies must deepen their understanding of and appeal to the next generation of talent, according to a new interesting research published by Symplicity using data ?? from over 2,700 students currently enrolled in over 131 four-year colleges and universities across the United States in April - May 2024.
?Gen Z needs in priority Job Stability
Researchers found that 94% of students consider job stability to be important or very important when seeking full-time positions, with salary and work-life balance also being top priorities.
?? While job stability is a significant consideration when searching for a job, salary, benefits, and location are the top deciding factors when accepting a full-time position.
?Candidates continue search another opportunity even after accepting offers
Researchers revealed that 61% of students who had already accepted an internship or full-time position continued to look for other opportunities afterward. The overwhelming reason (also at 61%) was to have backup options in case of a rescinded offer.
Of the students who had accepted an offer in the past, 21 percent later declined the offer. When asked why, the top two reasons were finding a new position with more interesting job responsibilities or a position with a better compensation package.
?Candidates want a quick hiring process
Researchers also noticed that 81% of students believe the hiring process should take one month or less. Additionally, 50 percent of students said they would be deterred from accepting a job if the interview process took longer than a month.
?? Finally, researchers suggest the following actions for leaders to effectively recruit the Gen Z workforce:
?? Offer meaningful internships to attract top talent.
?? Maintain transparency and communicate clearly and frequently.
?? Keep candidates engaged even after they have accepted the offer.
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This fascinating research uncovers intriguing patterns regarding Gen Z’s expectations in the recruitment process.
While much of the effort occurs after offer letters are extended and accepted, it’s essential for employers to remain engaged with new hires before their official start date. Additionally, moving swiftly is crucial when competing for top talent.
??Thank you Symplicity researchers team for sharing these insightful findings:
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Very insightful post Nicolas ! In our view, Gen Z want meaningful engagement and exciting opportunities for learning at the companies where they work. So retention can improve by focusing on strong upskilling initiatives, and investing on a strong learning management software that can enable these upskilling and learning programs with access to competent trainers
PZU Ambassador?? | Prezes KNZiM?? | Rekrutacja?? | Zainteresowany HR??| EB??
2 周As a student just entering the job market, I fully agree with this article. Referring to internships, I also believe they should last no less than six months.
Human Resource Professional | MBA | Coporate Recruiting Professional- ASA | Ex-Wirtgen Group,A John Deere Company
2 周Insightful! In today’s competitive job market, companies must recognize that flexibility and responsiveness in hiring are crucial. Organizations that can strike a balance between efficiency and thoroughness in their hiring process will have a distinct advantage in attracting top talent. Gen Z’s tendency to explore backup options and even decline offers for better opportunities highlights their confidence and understanding of their value in the market. With the rise of a digital-first landscape, job seekers now have more information and options than ever before, making it essential for companies to be agile. They must present competitive offers quickly and maintain engagement to ensure candidates remain committed. Thank you for sharing!
LinkedIn Top Voices in Company Culture USA & Canada I Executive Advisor | HR Leader (CHRO) | Leadership Coach | Talent Strategy | Change Leadership | Innovation Culture | Healthcare | Higher Education
2 周Thank you for sharing Nicolas BEHBAHANI
Industry Veteran | Exploring Future of Work | Great Manager’s Coach & Mentor
2 周?? When it comes to Gen Z, it's all about Speed, (Job) Stability, ??Salaries, & a Swift hiring process keep them loyal, Agree ??% Nicolas BEHBAHANI. ?? Kudos to Symplicity researchers team for the research. ? SPEED is an excellent framework to address the needs: S: Strategic & Sensitive to their Needs, P: Processes with Tech Enablement for Speed, (AI can be better Solution) E: Engagement & World-Class Experience, E: Empathy in Leadership, D: Development Opportunities.