Insights

There’s a new cohort of workers hitting the labor market — Generation Z. They were born between 1997 and 2012, are considered the most diverse generation to date, never knew a world without smartphones, and are the most comfortable using gender-neutral pronouns. While in 2022 the youngest of Gen Z are just entering middle school, the oldest members (who are in their early 20s) have already spent some time in the workforce — either in-person or remotely. By 2025, this generation will comprise nearly 30% of the workforce.

While in recent years, many major companies have come forward in support of the LGBTQIA+ community, there is still much more progress to be made in making the workplace more inclusive for all. Levels of LGBTQIA+ workers in management positions are considerably lower than the number of those who identify with this community — especially when it comes to C-suite executives.

In addition to competing on dollar amounts, companies today are reevaluating their benefits packages to ensure they remain attractive, relevant, and Gen-Z friendly. Following two years of the pandemic and a universal embrace of the remote-first culture, what exactly do the newest entrants into the workforce care about when it comes to work perks?

In today’s competitive labor market, we know companies are using every tool at their disposal to attract top talent. One of those age-old tactics is to offer candidates higher salaries. But how high are the numbers going?

It’s one thing to get top talent in the door in this competitive market, but it’s another thing to have the policies and culture in place to keep them happy at your company for the long-term. One way to retain candidates is to appeal to how they want to work — such as whether they prefer hybrid, fully in-person, or fully remote work settings — as well as how they hope to be rewarded at work and grow within a company. If hires are not satisfied with their work schedules, and don’t see or experience the opportunity for upwards ability, they will be tempted to look elsewhere. But what exactly do today’s interns or full-time job seekers want? And what are their expectations in the workplace in terms of tenure and promotions?

Reneges have been the hot topic of conversation. Your peers are swapping stories of how candidates who appeared excited are suddenly backing out of offer letters before their start dates at rapid rates, and your company is asking you how they can ensure your hires don't do the same. But what does the landscape of reneges truly look like? And how do Gen Z candidates today feel about rescinding offers?

Widespread job loss due to the pandemic in 2020, followed by record-high ‘quit rates’ in 2021, has allowed candidates to continue to drive the labor market. Companies looking to fill open roles are in tight competition for top talent, and have had to revisit their tried and true strategies for attracting candidates to remain in the game. But how many opportunities and offers are Gen Z juggling today, and how many salaries and benefits are they pinning against each other as they decide where they want to kick-start their careers?

Two years after the start of the pandemic we remain in a candidate-driven market, and recruiters are still battling for Gen Z’s attention as early career talent is inundated with job opportunities from companies big and small. And you can rest assured that today’s candidates have caught on that they are a highly sought-after group, and have expressed clear preferences for workplace policies and cultures that organizations would be wise to embrace if they are looking to remain competitive in today’s market, such as flexible work settings.

RippleMatch is proud to recognize Kathy Bowman, the Talent Acquisition Manager of Program Management at Catalina, as an Outstanding Leader in the Campus Recruiting Community!