In 2021, roughly 4M+ college students entered the workforce, with almost 2M+ being awarded a bachelor’s degree and over 800,000 earning a master’s degree. By 2025, Gen Z will make up approximately 27% of the workforce. Not only does this generation outnumber millennials, but as the newest generation of early talent, Gen Z is adding value to modern businesses by making an impact where it matters.
- They’re savvy with social media.
- They’re digital natives.
- They value activism in essential areas, like climate change, gender equality, healthcare, education, and race equity.
While it’s true that the pandemic changed work dynamics for everyone, changes in the labor force have been a long time coming. More than 75M baby boomers are retiring in the upcoming years. There’s no better time than now to make sure your recruiting strategy includes early talent.
Benefits of Hiring Early Talent
Early Talent Improves DEI
Recent graduating classes are some of the most diverse our society has ever seen. Pew research found that 48% of Gen Zers are considered racial or ethnic minorities. Because Gen Zers grew up in much more diverse environments than other generations, they are committed to DEI initiatives both in and out of professional workspaces.
Early Talent Is Good for Your Profit Margin
Compensation packages should be competitive, but because of a lack of substantial experience, hiring recent graduates is good for your company’s pocket. This will ultimately save you money on yearly salaries.
Early Talent Improves Retention and Succession Planning
Research shows that hiring early-talent increases retention and it’s great for succession planning. A great example of this is Johnson & Johnson. After reviewing 47,000 records, J&J realized that recent graduates performed comparably with senior employees and were able to secure more promotions. Their records also showed that recent graduates stayed with J&J long after their hired date. This is because early talent is more likely to have stronger social ties when they start a position together with a cohort of colleagues, as it creates an immediate bond from the beginning.
Early talent molds more easily to company culture and are thirsty for knowledge. Because Gen Z has an easier time molding to new roles, it makes it easier for companies to keep their funnels filled and have talent ready to groom into different positions as they open up. Gen Z’s cutting-edge skills and eagerness to learn makes them a generation that’s committed to fulfilling their roles in companies that align with their core values.
Early Talent Positively Changes Office Culture
Gen Z places considerable importance on social causes affecting their generation. This affects their expectations for the companies they plan to work for. They value transparent working environments and have respect for companies that create safe working spaces.
Attracting and Retaining Early Talent
Because Gen Z places value on transparency, the best way to tap into early talent that’s ready to enter the workforce is by adapting to the new corporate normal.
Incorporate Social Media
Using social media to recruit entry-level candidates is one of the most efficient ways to source Gen Z prospects. Remember, Gen Z are digital natives and they value efficient use of technology and any smart tools that help make the recruiting process easier and communicative. Social media is also a great way to showcase your company’s culture.
Rethink Remote Work Policies
Gen Z doesn’t want to work from home every day but wants flexibility in where and how they work. If your company doesn’t have a hybrid work model, try to embrace a company policy in which your employees have the freedom to choose in and out-of-office schedules. This type of flexibility lets your employees know that their life outside their work matter, and it helps create healthy work/life balances for everyone.
Prioritize the Onboarding Process
Attracting early talent is only half the battle. To improve retention rates, one of the main areas companies need to focus on is their onboarding process. When early talent experiences a good onboarding experience, your company’s retention rates can improve by as much as 82%. Make sure your new employees are set up for success and that they’ve gotten a detailed rundown of the company's core values and expectations.
Recruitment is an ever-changing process that caters differently to every generation entering the workforce. As the latest generation looking for job opportunities, Gen Z is determined to change the way they approach work so that it’s more flexible, beneficial, and enjoyable to all. It goes without saying that the pandemic forced a lot of companies and organizations to rethink company policies. But it’s been Gen Zers who have taken charge and demanded change in the workplace so that moving forward, careers can be more fulfilling and truthful to company core values.
About Symplicity Recruit
Symplicity Recruit is the premier early talent recruiting platform used by over 600,000 employers. Key features include centralized management of job postings across a network of over 600 academic institutions, a filterable resume database, and the ability to directly message students. Contact us to learn more.