The keys to recruiting, retaining Gen Z graduates
Employers who can offer an engaging and rewarding experience stand to gain from one of the most in-demand graduating classes in recent years.
In a world that has undergone tremendous change in working habits and priorities over the past two years, approximately 4 million college graduates are preparing to enter the workforce for the first time.
Gen Z graduates are looking to start their careers on solid ground, even amid a rapidly changing work environment, and employers who can offer an engaging and rewarding experience stand to gain from one of the most in-demand graduating classes in recent years.
Related: 5 top benefits Gen Z are looking for when job-hunting
As employers look to engage this talented and motivated group, here are a few ways to enable success for recent or soon-to-be graduates in your workplace.
Lead with benefits
All too often discussions about employee benefit programs don’t come into play until after an offer is extended. However, early conversations with potential new hires about perks and benefit packages can be used as a highly effective recruitment tool.
In fact, a recent survey conducted by Georgetown University’s Business for Impact’s AgingWell Hub, in partnership with Bank of America, found that 63% of young adults agree that employee benefits (e.g. retirement plan, health care, time off) are more important than ever.
The pandemic was a wakeup call for many to prioritize their well-being in a more holistic way, including physical, emotional and financial health. As companies work to build a strong pipeline of talent, it is crucial for young workers to be able to envision how their first career choice will integrate into their broader lives, including beyond the 9-to-5 working hours.
By highlighting your workplace benefits package, comprehensively and early on, you’ll seize the first opportunity to illustrate exactly how your company supports its employees in both their work and personal lives.
Demonstrate opportunities for career progression
Gen Z graduates are attuned to rapid change and have learned to be well-prepared for future uncertainties. As a result, they’re focused on future-proofing their careers through employee development and upskilling programs, which play a major role in overall job satisfaction and subsequent retention.
Talking to new graduates about long-term career progression, enabled by learning and development programs with robust resources, gives potential candidates the confidence in knowing that their entry-level role is not a final destination, but instead, an avenue for meaningful progression.
The first tell-tale sign that a company is serious about its commitment to employee growth and development is the quality of its onboarding program. We all know the importance of a good first impression, and yet, only 12% of employees report that their companies did a good job onboarding new hires, leaving a large pool of employers at risk for losing new talent at the earliest stages of their career.
After completing their education amid pandemic conditions, Gen Z graduates won’t be shy about pivoting away from a job that’s not living up to its promises, so be sure that your onboarding is a two-way, interactive and personalized process to ensure success from day one.
Embrace new technologies to boost engagement
This year’s graduating class was raised in the golden age of technology and lived through the proliferation of smartphones, social media and emerging technologies during their most formative years. They’re likely stepping into their new roles as the most tech-savvy individuals among their colleagues, which is why it’s important for employers to stay up to date on the latest technology trends to offer high-tech learning tools that empower a future-ready workforce.
At Bank of America, we’ve embraced virtual reality (VR) as a tool in our learning and development toolbox. After rolling out the technology last fall, we witnessed an overwhelmingly positive response and are excited about how VR and other technologies, such as artificial intelligence and conversation simulators, can propel our employees into the future. It’s rare to find employees energized by training programs, but the use of immersive learning platforms has boosted overall engagement, making our teammates more comfortable and confident in their everyday roles.
Understanding the unique needs of your audience is always critical to a successful talent recruitment and engagement strategy, so it is important to remember that the class of 2022 had anything but a “typical” college experience.
After quickly adjusting to online classes—then adapting to the re-introduction of in-person learning—new Gen Z professionals are understandably eager to flip the script by taking control of their careers early on. The workplaces that prioritize holistic benefits, growth opportunities and engaging experiences will demonstrate a clear understanding of this groups’ priorities and come out on top of the red-hot job market.
John Jordan is head of The Academy at Bank of America.
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