Gen Z’s recession fears are making them more selective job hunters
The class of 2023 will graduate this spring with rented caps and gowns, high egg pricesand a new season of heir to contain or distract from recession fears.
Graduating in economic uncertainty is never a welcome step into the adult world, but Gen Z doesn’t sit idly by in an economic downturn. So shows Adobe’s survey of more than 1,000 incoming and recent graduates as part of it Research the workforce of the future. It found that while 70% of Gen Z are worried about a recession, that doesn’t stop 78% of them from feeling satisfied about the current labor market.
That’s right. Some CEO hopes that economic hardships will end the era of worker empowerment, with many—like Morgan Stanley CEO James Gorman—bringing workers back to the office. Despite technology layoffs, Job market have a relatively low unemployment rate and average layoff rate lower than before the pandemic. And people are still giving up. Generation Z is encouraged to maintain the upper hand at work—they know exactly what they need and want during difficult times. The majority of them (67%) said that macroeconomic factors had influenced or likely affected their job search, Adobe found.
Case in point: More than half (55%) are said to have considered an employer’s financial prospects before applying for a position. Most also pay attention to the employer’s reputation and employee reviews. Larger established companies are more attractive to the small majority (52%) of graduates, who feel they represent stability in tough economic times.
Most (85%) wouldn’t even apply to a job listing if it didn’t include a salary. No wonder, because this generation is very bold about ask their colleagues what they do and share their salary with strangers Online. Vaishali Sabhahit, Adobe’s global head of college talent, says this is partly because this generation grew up using social networks, where people share their lives with followers and because they lived through the worst of the pandemic.
She said in a statement shared with Asset. “In this environment, knowing the salary can help Gen Z decide quickly if the posted salary is a good fit for them financially.”
According to Adobe, when actually receiving a job offer, Gen Z tends to not be interested in a position if the position lacks competitive salaries, work-life balance or global benefits. representation, according to Adobe. “While previous graduates may also appreciate these attributes, recent graduates value them even more,” says Sabhahit.
But, perhaps surprisingly, whether the location is remote or not is less important to them. While they enjoy Flexible to make their own schedule, they still love going to the office to develop your career and get to know people. Most respondents (75%) said they were even willing to move closer to the office.
In late spring, the next wave of Gen Z will enter the workforce. While the majority of Gen Z feels ready to get going and prepare for what’s to come, the question that remains, according to Adobe’s findings, remains: Are employees willing to attract what young workers are attracted to? want?
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