40 Percent of Gen Z Employees Regret Accepting Job Offer
A growing number of candidates are regretting their career decisions, according to Gartner. In 2018, 40% of Gen Z respondents reported that they would not repeat their decision to accept the job offer they had accepted and only 51% said they could see themselves having a long career at their organization.
Candidate regret leads to turnover, low engagement and low productivity; more than one-third of candidates who regret their decision intend to leave their position within 12 months. “To address this increase in candidate regret, and stem the ensuing issues with underperforming talent and/or high turnover, organizations need to better understand what Generation Z candidates want,” said Lauren Smith, vice president of Gartner’s HR practice.
As digital natives, Gen Z candidates, those born from the mid-1990s to the early 2000s, understand that innovation and change are a constant. To ensure they are staying relevant as technology and business processes advance, they are keen to leverage various types of development opportunities, from training programs and boot camps to continuing education. Data from Gartner’s Global Labor Market Survey found that in 2018, 23% of Gen Z candidates listed development opportunities as a top attraction driver, compared with only 17% of their millennial predecessors in 2013.
Along with development opportunities, Gen Z candidates expect flexibility in their work arrangements. In addition to the ability to work from any location, these workers believe work should accommodate play and play should be incorporated in work. Compensation is no longer a guaranteed method for keeping the young workforce in seat, according to Gartner. In 2018, 38% of Generation Z candidates said that they would leave a job because of compensation, compared with 41% of millennials in 2013.
Gen Z candidates also differ from their millennial predecessors on seeking a defined career path. According to data from Gartner’s Global Labor Market Survey, in 2018, only 25% of Gen Z candidates listed future career opportunities as a top attraction driver when considering a job; in 2014, 34% of millennials felt the same way. In today’s digital age, graduates know they possess unique skill sets that are very much in demand and make up for a lack of experience. Management approaches must adapt to this new reality and shift from an “always-on” to a “Connector” manager approach.
Connector managers foster meaningful connections for their direct reports to and among employees, teams and the organization to develop an employee’s specific capabilities. Not only are managers crucial to ensuring their employees’ portfolio of skills stays relevant, a key concern of Gen Z, but they can improve the performance of employees by up to 26% and triple the likelihood that their direct reports will be high performers.