Three-quarters of soon-to-be college graduates surveyed expect to earn a promotion one to two years after their start date. Can you deliver? (Photo: iStock)
My, how time flies – Gen Zers are already graduating from college! As they embark upon their careers, Gen Zers care most about the opportunity for growth, while at the same time being able to have a work-life balance, according to LaSalle Network's report, “What the Class of 2019 Wants.”
Indeed, 76 percent of more than 3,000 recent and soon-to-be college graduates surveyed expect to earn a promotion one to two years after their start date. In comparison, 40 percent of millennials expect to earn a promotion every one to two years.
“One thing is clear: if you're looking to hire the class of 2019, it's essential to focus on the future,” the authors write. “Share stories about employees who earned promotions internally, and discuss how they advanced their careers. In addition, highlight how you envision the role evolving.”
In addition to providing proven training and development programs, employers should also showcase on social media workers who have excelled, according to the report.
“Generation Z is 59 percent more likely to connect with brands on social media,” the authors write. “Take advantage of their technological tendencies and highlight people who have gotten promoted or received an internal accolade. When candidates see these celebrations on social platforms, they'll not only get a feel for your company culture, but can see the growth firsthand.”
Compensation ranks third on their list of importance, though Gen Zers don't think their entry-level pay will be too shabby — on average, students expect to earn $51,000 to $60,000 in their first job out of college. Their salary expectations are not that out of line with reality: of the 24 percent of grads surveyed who had already accepted a job offer at the time of the survey, about 45 percent will earn the same amount of money they expected, 44 percent will earn more money than they expected, and just 11 percent will earn less money than they expected.
What do Gen Z grads want in a company? A good company culture ranked highest, followed by benefits and location, according to the report.
“To clearly illustrate your unique company culture, consider giving candidates a tour of the office so they can get a feel for the environment,” the authors write. “You may also have the candidate meet with a few different people on the team. If it makes sense to invite the candidate to a team outing or happy hour, this can give them (and you) even more insight into how they'll fit in.”
The top two benefits that Gen Zers want are medical coverage and 401(k) matches. As for perks, flexible fours or options to work from home ranked highly, while many didn't care about student loan reimbursements, flexible spending accounts, gym reimbursements and pet insurance.
Most college graduates are entering the workplace with some work experience already, and the majority of students surveyed had one to two internships, according to the report.
“Internship experience can lead to more well-rounded candidates and fewer gaps in skills compared to those without,” the authors write. “If a candidate hasn't had an internship, consider other jobs, leadership or volunteer experience that can point to their work ethic.”
While most graduates begin their search six to nine months before graduation, 76 percent graduates have not yet accepted a job offer at the time of the survey. “Although grads are starting their search early, there's still time to recruit,” the authors write.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Katie Kuehner-Hebert
Katie Kuehner-Hebert is a freelance writer based in Running Springs, Calif. She has more than three decades of journalism experience, with particular expertise in employee benefits and other human resource topics.
