It provides essential information for understanding and improving recruitment and retention; essential reading for companies and brands hoping to attract the next generation of talent, Generation Z. Global companies are in a heated race to attract the kind of talent that will drive growth and innovation in the coming decade.
According to the 2015 PwC 18th Annual Global CEO Survey, 73% of CEOs say they worry about finding the right people to realise their business goals, up from 63% last year. In just three years, the first wave of Generation Z will enter the workforce; that is why developing strategies for recruiting and retaining Generation Z starts now.
"When millennials joined the workforce they had a great impact on the world of work, but many companies struggled to adapt to their expectations, quickly becoming irrelevant. Gen Z too has a different set of expectations and values and its impact is soon to be felt. Now is the time to start understanding and adapting to future of work," says Jenali Skuse, Employer Branding Consultant at Universum.
Whilst this research is global, the implications are very clear for South African businesses, especially in light of some of some of the most interesting findings from the research. While Gen Z is generally optimistic, the research shows that they are significantly less optimistic than Gen Y - the so-called millennials. Amongst Gen Z's top fears are not being able to find the right job and being saddled with student debt.
Amidst the current turmoil in South Africa over university fees, one of the most important findings is Generation Z's attitude toward tertiary study - and how it differs markedly from the generations that precede it. Forty-seven percent of respondents would consider entering the workforce before getting a tertiary degree and 60% say they welcome information about how companies offer education to those with no university degree.
The main issue driving this trend is fear of crippling student debt and here in South Africa this fear is taking on new relevance with the vehement resistance being expressed towards proposed fee increases.
It is clear that attracting the best talent of Gen Z will take new and innovative approaches. Not only must organisations think carefully about whether it is feasible and appropriate to offer apprenticeships to promising students who may not be ready to invest time or money in a university degree but also how to communicate with these potential employees when traditional recruitment methods may not be available.
As employers consider communicating with and engaging this university-bound group, they must decide which types of content are the most effective to begin the relationship.
Universum asked Generation Z whether they would feel comfortable being contacted via their social channels by a company regarding work opportunities (keep in mind the oldest students in our study are in their first year of college while most are still in high school); 83% said they are open to the idea. However, when asked how they feel about seeing advertisements from potential employers on social media, this number more than halves. Though social media seems an easy decision to reach Generation Z, employers must proceed with care.
These engaging, often surprising and critically relevant insights into Generation Z are only a few of the many trends that Universum has uncovered from its extensive research. It engages in these special research projects to complement its annual research cycles and to ensure that it is always leading the way in understanding and planning for the future of recruitment.
For more information, go to www.universumglobal.com.
