Around a third of the young US demographic feels let down by the education system, accusing their alma maters of failing to teach them applicable, real life business skills. A report by HR firm Adecco breaks down the data gathered from 1,001 students looking at the difference in thinking between Generation Y (born 1980-2000) and Generation Z (born after 2000).
Generation Z is either just entering college or actively attending the higher-ed classes. Generation Y, also called the ‘Millennials,” are graduating or have already graduated. Despite the difference in age and the hurdles that lay ahead, both groups have a common enemy: the difficulty of obtaining a job.
Concerned about the future
An informative chart in the aforesaid report indicates that both Millennials and Generation Z are significantly concerned about their ability to find a position, let alone one that satisfies them and provides financial stability, because they feel unprepared.
32% of both demographics cited ‘the ability to find a job’ as their primary concern as they get ready to enter adulthood. 16% cited the cost of their tuition as their major source of stress, and 13% said the same about ‘personal financial health’ (credit cards, living expenses). Only 1% are worried about having health insurance provided by their future employer.
Despite their distress, almost 80 percent trust that they’ll eventually find a place to work in less than five months. 42% expect to do so in less than three months, 36% in three-to-five months, 14% in six-to-nine months, 2% in ten-to-twelve months, and 5% in more than a year.
Asked what their aspirations are after graduating, 31% said they were after ‘financial stability,’ followed by another sizable chunk (28%) who wanted to find a ‘dream job.’ One tenth of the cohort feels marriage is the most important goal after college.
Some tips for employers
If you’re on the lookout for fresh meat, know that more Millennials (41%) want a job with an ‘opportunity for growth’ compared to Gen-Z (30%). Of the entire group, 19% want stability, and another 19% feel it’s imperative that their work is fulfilling. Just 7% want a flexible schedule, and only 1% believe in the success of corporate social responsibility programs.
Look for them through online job boards (31%), their college/university career center (29%), as well as on social networks (5%). However, also keep in mind that many of them (18%) still rely purely on personal connections and friends. Many more important data points are laid out in the infographic (embedded below), so be sure to scour the whole thing if you’re in HR. Enjoy 🙂