The labor market is nearing the moment when Generation Z surpasses the total number of Baby Boomers participating in the workforce, an economic switchup estimated to occur over the course of this year.
There will still be many baby boomers working into what traditionally have been labeled as retirement years, due mainly to economic uncertainties. However, the overall change in age demographics has many employers seeking a better understanding of the latest generation to enter the workforce in droves.
A recent survey published by iHire, which included responses from 1,093 Gen Z individuals and 252 employers across various industries, provides a glimpse into how Gen Z is expected to influence the workforce in a big way.
First off, many Gen Z job seekers believe negative stereotypes surrounding their generation will adversely affect their job search or career advancement within the coming year. Specifically, 34.4% of Gen Z respondents “believe employers’ negative stereotypes about their generation impact their job searches/careers.”
One of those negative stereotypes is how employers perceive Gen Z’s commitment to their professional careers. However, the survey found that 69.3% of Gen Z, “have a dream job they aspire to obtain in the next 10 years.”
Moreover, the survey’s data reveals Gen Z prefers in-person work.
Despite being known as “digital natives,” over half of the respondents (55.8%) expressed a preference for in-person work environments, followed by 26.6% who preferred hybrid work, and 17.6% who said they prefer fully remote work.
The data reflects the notion that Gen Z values human connections and supportive work cultures. It also shows how the vast majority, 82.4% of Gen Z employees, “want to work in person at least some of the time.”
When asked specifically about flexibility, the respondents cited the most important factors as job seekers were flex time (58.9%), which allows for flexible start and end times to the workday, and the ability to adjust work schedules as needed. This type of flexibility is followed by four-day workweeks (45.1%), unlimited paid time off (39.8%), and remote working options (37.7%).
The report also highlights several challenges faced by Gen Z in the job market.
According to iHire, the top challenges included:
- Finding Jobs in my desired location – 39.1%
- Finding jobs I’m qualified for/have the right experience for – 38.6%
- Applying and/or interviewing then not hearing back – 37.9%
- Finding jobs that meet my salary requirements – 31.4%
- Interviewing – 30.4%
To attract and retain Gen Z talent, the report suggests that employers should reassess job criteria, demonstrate clear career progression paths, offer professional development opportunities, re-evaluate compensation packages, and develop a people-centric workplace.
Additionally, promoting a positive job candidate experience and showcasing a strong employer brand are cited as important strategies for engaging Gen Z.
For Gen Z job seekers, the report advises focusing on realistic career goals, self-advocacy, developing soft skills, leveraging transferable skills, networking, and continuous learning. These steps can help bridge the gap between their aspirations and the current job market demands.
