Gen Z was born between 1997 and 2012. Therefore, these individuals will be between the ages of 12 and 27 in 2024.
According to McCrindle, Gen Z will make up 27% of the global workforce by 2025. Knowing what Gen Z looks for in job opportunities in 2024 helps attract and retain employees of this generation.
Discover what Gen Z is looking for in job opportunities in 2024.
Competitive Compensation
According to Handshake’s 2023 Network Trends Report, 70% of Gen Z respondents said they prioritized income when evaluating job opportunities. Due to the economy, inflation, and retirement, their financial health was among the main concerns. Therefore, pay transparency in job postings is important.
Gen Z is looking for job opportunities that offer competitive compensation. They grew up with economic uncertainty and saw millennials struggle with the student debt crisis. As a result, Gen Z prioritizes financial stability and wants fair compensation for their knowledge, skills, and experience.
Employer-Sponsored Retirement Plan
According to the Handshake report, 65% of Gen Z respondents said they would not accept a job that did not include a retirement plan. Because most members expect to work full-time into their sixties, they want employers to help with their retirement savings.
Much of Gen Z saw their parents’ retirement plans impacted by a financial crisis and the coronavirus pandemic. Many members also experienced economic instability and student loan debt. As a result, most of Gen Z wants to retire at their anticipated time and live their expected lifestyle.
Financial Literacy Programs
The Handshake report found that 75% of undergrad respondents believed employers should provide financial literacy programs. They want to learn about topics such as budgeting, taxes, and retirement planning.
The report found that more than half of Gen Z respondents are expected to provide for their parents, grandparents, or other family members either now or in the future. As a result, they desire financial education to ensure they can support their families and retire on time.
Flexible Work Options
According to the Handshake report, 82% of Gen Z respondents desire hybrid work schedules for a strong work-life structure. The ability to work onsite or remotely fulfills the preference to collaborate in person and be more productive at home.
The work-life structure is important for Gen Z’s career happiness. According to McKinsey’s 2022 American Opportunity Survey, 77% of Gen Z respondents focus on work-life structure when looking at job opportunities. They want reasonable project deadlines so they can leave work behind and enjoy activities with family and friends.
Learning and Development Opportunities
Eighty-seven percent of the Handshake report respondents said skill development opportunities were either important or essential when evaluating job opportunities. Also, 63% of respondents said they desire skill development opportunities throughout their careers.
The most desirable methods for learning and development included:
- General workplace skills courses
- Role-specific training
- Mentorship programs
- Tuition reimbursement
- Learning stipends
- Dedicated time off for learning
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