Gen Z presents unique challenges for recruitment professionals and organizations. With Gen Z projected to make up 27% of the global workforce by 2025, understanding how to recruit and retain Gen Z has become crucial for the future of work. Organizations are projected to hire 14.7% more college graduates in 2023 than in 2022, shifting the workforce demographics in favor of the younger generation.
However, a staggering 74% of hiring managers find Gen Z the most difficult generation to deal with in the workplace. Several factors contribute to this hiring gap. The COVID-19 pandemic and the resulting Great Reshuffle led to a significant increase in layoffs and furloughs for Gen Z compared to other generations. Negative media coverage and misaligned career expectations further complicate matters.
70% of Gen Z employees are at risk of reneging on their job offers. Replacing a renege can be costly, with an average recruitment process taking 42 days and a total cost of $22,000 per employee. To recruit and retain top Gen Z talent effectively, companies must set clear expectations and demonstrate transparency. Gen Z appreciates knowing what their responsibilities and goals are, having regular check-ins with supervisors, and receiving straightforward recognition for their work. Salary transparency, in particular, significantly influences their job decisions.
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Source: Abode HR