Is salary the top priority for Gen Z graduates looking for jobs?

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Is salary the top priority for Gen Z graduates looking for jobs?

As graduation season is well underway, research in to Gen Z graduates desires for jobs, found that money is not the main influencer, but following their interests and employers needing to be aware of mental health issues come top.

According to a July 2019 report by the graduate recruitment site, Milkround, a majority of 78 per cent said their interests were the biggest influence on their career path which was up 6 per cent from 2018.

More than a third, (34 per cent) of graduates chose careers that reflected their values. Only 25 per cent of Gen Z prioritised salary potential which was down from 34 per cent in 2018. This ultimately suggests wages are becoming overshadowed by careers that are representative of graduate passions and values.

In addition, it is clear that employers need to cater for mental health issues that are on the rise amongst Gen Zs.

Milkround has reported that one in three Gen Z graduates face mental health problems. Almost half (44 per cent) expect flexible working, as well as 43 per cent desire flexibility around appointments for mental health. According to a YouthSight poll, referenced by Hype Collective, a student marketing agency, almost half (43 per cent) of Gen Z students would be ‘much more likely’ to accept a job which has a “public and transparent approach to mental health”.

Gavin Howarth, managing director, at Howarths a HR and employment law firm, said:

Whilst a competitive salary will always be important, I do not necessarily think it is the overriding consideration for Generation Z. A commitment to flexible working and a genuine pledge to supporting the health and mental well-being of staff are also good examples of how a company can stand out in the market place when looking to recruit from Generation Z; a generation with individuals that have the importance of good mental health high on their agenda.

At the same time Glassdoor, a job search engine and review site, have released a list of the best paid entry-level jobs.

Dominating the top of the list is an investment banking analyst (£50,752 median base salary), software engineer (£34,106) and a business analyst (£32,142). The lowest paid entry-level job on this list, a mechanical engineer, earns a median base salary of £28,273. However, Gen Z graduates do not seem to be as preoccupied with salary.

Gavin Howarth, managing director, at Howarths a HR and employment law firm, said:

Whilst a competitive salary will always be important, I do not necessarily think it is the overriding consideration for Generation Z. A commitment to flexible working and a genuine pledge to supporting the health and mental well-being of staff are also good examples of how a company can stand out in the market place when looking to recruit from Generation Z; a generation with individuals that have the importance of good mental health high on their agenda.

Suki Sandhu, founder and CEO at Audeliss, an executive search firm, said:

In recent research conducted by Huawei, it was found members of the Gen Z workforce were more motivated by job satisfaction and working for the social good than by money.

Employers attracting this talent now need to focus on factors such as flexible and remote working opportunities, a company’s approach to corporate social responsibility and its inclusion values.

One company has even taken into consideration the importance of workplace culture and values to Gen Z and tailored their recruitment process to fit this.

Claire Beattie, head of recruitment at Carey Group, an engineering, construction and resource recovery business said:

The Carey Group has been using recruitment platform Applied to process graduate job applications. Candidates apply to job vacancies by answering carefully worded behavioural questions which are tailored to each specific role.

The questions are designed to provide us with a greater insight into an individual’s innate behavioural drivers and thought processes than traditional CVs and also result in candidates developing a deeper understanding of our company culture and how they can contribute.

 

 

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