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1、TO ATTRACT AND ENGAGEGEN Z TALENTITS NO SECRET:theres a massive talent shortage in the US,with millions ofopen vacancies.Even with labor force participation for prime-ageworkers,classified as 25-54-years-old,back to pre-pandemiclevels,there are still almost two jobs available forevery unemployed Ame
2、rican.pg.2pg.3The age distribution of the population can strongly influence overall labor force participation.Baby Boomers are naturally contributing to the decades-long-decline since the participation peak of 67.3%in early 2000.The pandemic also pushed more than 3 million Baby Boomers into prematur
3、e retirement.The youngest generation should be making up the difference,but about half a million Gen Zers are missing from the workforce.So,the question remains:where are the Gen Z workers?Gen Z,defined as people born in the late 1990s to early 2010s,are entering the workforce during a time of risin
4、g inflation,student debt,housing crises and a looming recession.They have been hit hardest by the pandemic and still experience much higher unemployment rates than Boomers and Millennials.Working-age Gen Zers are more than twice as likely to be unemployed than any other generation,the World Economic
5、 Forum has discovered.Gen Z unemployment shot up from 6%to over 25%affecting the career,finances,and perspectives of Gen Z job seekers.Its not surprising that 79%of grads are concerned with job security while looking for their next role.Gen Z is coping with significant challenges,with many facing bu
6、rnout as the cost-of-living crisis begins to bite.But the impact isnt just on Gen Z earnings.A 2022 study by Deloitte shows that Gen Z workers are disproportionately affected by stress and anxiety.Women(53%)are more likely than men(39%)to experience these issues.Were seeing this reflected in survey
7、confidence as well.Sixty-two percent of male graduates expect the starting pay at their new job to be higher as a result of the current economy,compared to just 27 percent of women.To tackle talent scarcity,recruiters must engage Gen Z on their terms.The truth is that companies often arent meeting t
8、he demands of Gen Z and its affecting their ability to fill talent gaps.Gen Z wantsgreater flexibility,financial stability,and investment in their skills.They want to work for businesses with a bold brand and a compelling vision.Theyre searching for companies engaged in conversations about the issue
9、s that matter.The lack of a strong,authentic brand,inflexible benefits,and rigid recruitment processes are all barriers.So,whats the solution?Businesses must readjust recruitment strategies to reflect the new reality.The strategies and solutions that have succeeded in the past wont work in the prese
10、nt and following them could set you up for future failure.of recent andimpending graduatesare worried thatthe current state ofthe economy willimpact their jobprospects.74%pg.4GEN Z IS THE MOST DIVERSE GENERATION.THEYRE“DIGITAL NATIVES”LIVING LIFE ONLINE.WHEN THEYVE IDENTIFIED AN OPPORTUNITY,THEY WAN
11、T TO APPLY IMMEDIATELY ON A MOBILE PHONE.IF IT TAKES TOO LONG,THEYLL DROP OUT.pg.5UNDERSTANDING GEN ZHere are ten key stats from our Future of Workand State of the Graduate surveys to help you understand the preferences and priorities of Gen Z and the pressures theyre facing.64%say their pay expecta
12、tions are increasing in 202357%will investigate the business before applying5%will apply to a business based on the job descriptionalone46%will use organizational values as part of their job selection48%use social media asa search engine forjob openings90%want to completean application in 20 minutes
13、(or less)88%applied to a job that they knew wasnt the right fit simply outof desperation36%plan to work a gig/temp jobuntil they find a full-time job 39%would accept a lower salary than what they anticipated after graduating48%would not apply to a job that mandates workers come on-site every dayCOMP
14、ANIES THAT WANT TO ATTRACT MORE GEN Z TALENT MUST ASK THEMSELVESTHREE QUESTIONS:1.Are your expectations realistic?2.Is your offer attractive enough?3.How are you communicating?Following a business-as-usual approachto recruitment wont engage Gen Z ontheir terms.Instead,talent acquisitionteams must as
15、sess every aspect of theirapproach to identify areas where theycan refresh and refine theirrecruitment strategy.pg.6Gen Z is the best-educated generation,with more college degrees than Millennials and Boomers.But talent teams are searching for more than evidence of academic achievement.Is it realist
16、ic to expect a graduate to have relevant experience and interview presence if theyve never worked in a professional environment?Sixty-five percent of recent and impending grads feel that their skill set matches that of an entry-level job,whereas only 15%feel underqualified.Are these skills being ove
17、rlooked?ARE YOUR EXPECTATIONS REALISTIC?48%say that candidatesneed to articulate their transferable skills Are you asking the right questions at interviews to identify the skills you need?35%are willing to take a chance on candidates who do not have job-appropriate skills but are trainable Are your
18、preconceptionsand prejudices makingyou miss out on talent?62%are willing to hiresomeone withtransferable skillsand train them Are you confidentthat you can spot the skills you need for the future?We asked recruiters which of the following they value most when evaluating first-time job seekers,and th
19、e answers were surprising.Recruiters must transform themselves into talent spotters identifying individuals with the potential to grow and developinto a role.They need to take a skills-based approachto talent sourcing when reviewing resumes,screening candidates,and conducting interviews.pg.714%wante
20、d to see relevant workexperience 22%wantedto see any priorwork experience19%wantedcandidates to demonstrate“interview presence”Many recruiters now demand a degree as standard,but increasing costs and an uncertain future could explain why many younger people are turning away from a college education.
21、A recent survey found a 20%drop in the number of young people believing further education is the best choice for their future.Will this trend open more doors for entry-level job seekers or will the desire for relevant work experience be even greater without having a post-grad education?Takeaway:pivo
22、t from prior experience to potential success when evaluating candidates or you might miss out on qualified applicants who are eager to learn.Another compelling argument for leveraging interviews for talent spotting:the rise of artificial intelligence used by job seekers.Gen Z has been embracing AI a
23、s a native technology and started incorporating it into their job hunting.pg.883%Interview presence will help you look beyond words which mightbe computer generated to understand the true valuethis candidate can offer.of male Gen Z graduateshave used an AI generator intheir job application process,c
24、ompared to just 54%of women.Male graduatesmost commonly use AIto write emails(49%),complete interview assignments(44%)and write resumes(42%).SIXTY-TWO PERCENT OF RECENT GRADUATES SAID SALARY IS THE MOST IMPORTANTASPECT OF A JOB,FOLLOWED BYWORK-LIFE BALANCE(58%)ANDGOOD HEALTH INSURANCE(54%).pg.9pg.10
25、A telling stat from Monsters 2023 State of the Graduate survey:the biggest fear of recent and impending grads is almost an even split,as 50%said their top concern is finding a job while 48%said finding a place to live.Affordable housing is increasingly challenging,and were seeing this reflected in m
26、onetary demands for their first job.Its more about just salary,but who you are potentially attracting and excluding when it comes to pay.Sixty percent of female grads,compared to just 40%of males,wouldnt apply to a job if the salary was not disclosed in the job description.Simply put,youll attract m
27、ore women applicants by including pay in the posting.IS YOUR OFFER ATTRACTIVE ENOUGH?Pay expectations vary by gender:Were not suggesting that businesses write a blank check.In an economic environment where salaries are stagnating,and the cost of living is increasing,businesses can engage all job see
28、kers and especially Gen Z by boosting benefits.In fact,focusing on the add-ons can elevate your businessabove others.Encouragingly,37%of businesses are alreadyincreasing benefits to attract talent,but are theyboosting the right ones?62%of male Gen Z gradsexpect to starting pay at a new job to behigh
29、er given the current economy.Only 27%of female grads agree.62%27%pg.11Gen Z is the most enlightened and empowered generation whenit comes to mental health.Offering support is now an expectation among Gen Z,not a nice-to-have.Forty-four percent of Gen Z recruiters say candidates expect businesses to
30、offer mental health support and 43%have seen the usage of mental health support spike in the last year.Takeaway:while pay is still most important for Gen Z,dont rule out benefits like work-life balance and health insurance as areas of attraction.While not in the top spot,“a flexible work schedule”cr
31、acked the top five of what Gen Z says are the most important aspects of the job.The ways of working need to fundamentally change andmany believe these standard practices are outdated.We recognize that businesses face an uncertain future and must prioritize benefits while balancing budgets.According
32、to recruiters,the most in-demand benefits tie back to mental health:Traditional 9 to 5 working hoursWorkingfull-time in an officeThe5-daywork weekHaving torelocatefor a job59%62%61%64%60%healthcare benefits 37%paid time off,including self-care daysOUR FUTURE OF WORK SURVEYDATA REVEALED THAT 30%OF GE
33、N Z WOULD PREFER TO BETEXTED BY A RECRUITERABOUT A RELEVANT JOBOPPORTUNITY.THIS IS SLIGHTLY MORE THANA PHONE CALL(27%),BUT EMAIL IS STILL THE TOP CHANNELAT 43%.pg.12pg.13To attract and engage Gen Z back to the workforce,companies need to first understand the best ways to communicate with this group.
34、You need to consider the job seekers overall experience with your brand,from initial touchpoint through the application process.Look to tell your story across all touchpoints including advertisements,job descriptions,your website,and social media channels.HOW ARE YOU COMMUNICATING?This digital-first
35、 generation is going to do someinternet sleuthing even in the early job opportunity stages:57%of Gen Z will investigate the business before applying 5%will apply to a business based on the job description alone 46%of Gen Z will use organizational values as part of their job selectionWhat channels do
36、 you leverage when seeking informationabout a company you are applying to?25%Social MediaChannels59%CareerSites16%CompanyReviewSitesA strong and consistent employer brand will reinforce the company transparency they seek and why they should re-join the workforce for your organization.Yet only 8%of b
37、usinesses plan to refresh their employer branding in 2023.The rest are assuming that their existing employer brand position is relevant enough to attract Gen Z talent.If your recruitment playbook has changed post-pandemic,wouldnt candidate expectations have evolved as well?pg.14How your company comm
38、unicated major changes over the last year could have an impact on your Gen Z recruitment efforts.A quarter of recent and impending grads said they are not applying to companies that they have heard,read,or seen bad news about recently,and 21%are not applying to companies that announced layoffs this
39、year.Gen Z graduates are looking to see themselves in your employer brand.Almost half(49%)of Gen Z wouldnt accept a job with a business that doesnt align with their values on social and environmental issues.Knowing this generation seeks job security and stability,they are on the lookout for red flag
40、s.Fifty-nine percent of Gen Zers would quit their job if the workplace became toxic,while 43%would leave if not given opportunities to learn and developin their position.Gen Z is very social media savvy.They expect a seamless journey from advertisement to application.The technological choicesof Gen
41、Z are influencing how every generation engages with organizations and completes applications.48%Almost half of Gen Z usesocial media as a search enginefor job openings.Recruiters should revisit their recruitment strategiesto meet todays digital demands of Gen Z.But just 8%of recruitersfind social me
42、dia an effectivechannel for finding talent.8%pg.15Any dropouts and delays in the application process could cause them to look elsewhere and youto lose out on talent.The fewer clicks from interest to application,the better.Ask yourself,just how easy is it to apply for a job with your company?This lis
43、t provides a clear description of the common reasons why Gen Z may drop out of the process.Takeaway:re-evaluate your candidate experience from a Gen Z perspective,from your communication tactics to brand values to ease of application.Which of the following wouldmake you pull out of the recruitment p
44、rocess?Tackling these can ensure talent sticks with you from their applicationall the way through to the appointment phase.Too many interviews30%Being required to write a long presentation/business case11%Timelines too long5%Timelines were too quick4%Lack of flexibility around interview timings5%Rec
45、ruiter attitude/behavior11%Interviewer attitude/behavior9%Interview and assessment process being made to jump through hoops7%Poor communication from the company,e.g.not being updated on my application or messages not being responded to quickly/at all18%An incredible 90%of Gen Z applicants want to co
46、mplete an application in 20 minutes(or less).Reaching and engaging Gen Z talent takes more thanjust a job posting on a website.This technologically savvy,socially conscious generation seeks employers that havean authentic brand that speaks to their values,offer flexible benefits and a clear path for
47、 development,and provide a seamless recruitment process.Monster can help you create the messaging and solutions that will resonate with Gen Zers across platforms,sites,and devices,giving you an edge in recruiting these candidates.Fill your reqs with Gen Z candidatesMonster solutions include:Pay for Performance|Employer branding|ATS integrations