Changing candidate preferences on nature of work
The majority of recent graduates feel that they don’t require their degrees to do what they currently are doing in their respective jobs. The percentage ranges from 54% in the United States to 72% in France. The new sets of fresh graduates are being cautious in weighing their career choices and are striving for more meaningful work. As per a new research from Vodafone, 23% of British employees call themselves unproductive which accounts to seven million of their total workforce. It was found that 42% of employees believed that poor technology was one of the prominent factors and 47% of them pointed to too many meetings to be the cause. Additionally, the rising work pressure is adding to it as more than four in ten of employees believe they’re being affected by stress at work.
Let us look at top five changing preferences which are shaping the mindset of Gen Z before choosing their employers:
- Gen Zers are definitely more serious and mature entering the workforce than millennials. The ability to earn a decent living is a top concern among all Gen Z graduates. However, for them, though money is important so does life.
- Gen Z workers expect equal flexibility on the part of employers and one of their top concern is a work-life balance. They want to write their own job description which reflects their desire for a hyper-customized career experience. And such preferences could draw them to small and medium-sized businesses.
- At least half of new graduates in all countries surveyed would choose a fun, positive social atmosphere at work over salary. They love to communicate visually.
- It is evident that recent graduates are more likely to stay with their first employer for a longer term if they feel that their skills are fully utilized with challenging and more meaningful work. A majority of new graduates are willing to relocate to another city for the right job offer, ranging from 75 percent in the United States to 89 percent in Spain.
- Going against perception, they understand the importance and value of the human touch more in a world of robotics and artificial intelligence. As per a recent survey by Accenture, for Gen Z working alongside technology is less daunting than mastering softer skills of communication, problem solving and management.
Keeping the above changes in mind, let us see the checklist which organizations need to create in order to attract and capitalize the right pool of fresh talent for them.
- Create an internal boundary-less project assignment and staffing model. This model must break down all functional barriers and allows newer employees to learn in multiple areas of the company. They need an environment where they can be independent as well as competitive.
- Create a personalized employee experience that strikes the right chord in terms of salary, flexibility, learning opportunities and career development. Coach them for satisfaction and success. Formalize the process of assigning incoming employees coaches to guide career paths and provide a personal touchpoint.
- Connect the dots by using technology and teamwork. These two pillars are seen extremely valuable to bring out productivity in the young fresh employees and have a direct correlation with their productivity. Organizations seeking to be an employer of choice must leverage the collaborative revolution and provide the technology, tools, and processes to facilitate the change.
- Show fresh talent how his or her contributions support overall organization’s purpose and objectives. Line up rewards to the value system of the new generation by maintaining full transparency. They have a huge urge to ‘own’ their projects and areas in the organization. As per a survey conducted by Monster, nearly half of Gen Zers want to own their own business, compared with a third across all generations. Create an ecosystem to meet up their entrepreneurial spirit.
There is a remarkable transformation in the mindset and preferences of today’s potential candidates passing out from various colleges. And this year it is all about companies who bring in ‘thoughtful innovation’ to drive their businesses forward and attract top talent to join them. Organizations need to create an internal environment where Gen Z can be seen, acknowledged and appreciated. Boost their entrepreneurial character, coach them and technologically support them. Organizations need to be open to change and adapt by making innovation a priority for stimulating employees to find a more balanced and meaningful work life.