Workforce Preference Study 2021
Personal experience and development, that is what young people between the ages of 16 and 28 are looking for in their (future) employer. It is one of the main results that can be read in What does young talent want? PwC Workforce Preference Study 2021 Netherlands (WFPS). Interesting work, nice colleagues, a social environment, and development opportunities are considered higher than monetary reward. In addition to the general outcomes for millennials and people of Generation Z, PwC also filtered the research results for young people with a specific study background in finance & accounting, STEM and social sciences.
Gain personal experience
Interesting and challenging work is the most important factor that allows employers to attract young talent. To this end, employers must pay sufficient attention to the substantive description of their vacancies. The colleagues on a daily basis, the learning opportunities and the opportunity to develop are also essential for young talent. The importance of non-material rewards is also reflected in the result that material reward elements are perceived as less valuable than educational or career opportunities, based on a Dutch basic salary.
Data filtered for three study profiles
For organizations recruiting specific target groups, the WFPS can also be used to filter findings by personal profiles. For example, these profiles can be based on residential location or industry-specific requirements. In the Workforce Preference Study 2021 for the Netherlands, the results are presented for three groups with different study backgrounds:
1) finance & accounting
2) science, technology, engineering & mathematics (STEM)
3) social sciences
The results show a top three of preferences that are the same for each study focus group:
#1 interesting and challenging work
#2 direct colleagues
#3 open and honest leadership communication
Career opportunities and work-life balance
In addition to the top three, there is a clear distinction between valuing career opportunities and work-life balance, although both constructs are considered important in all groups, and one does not exclude the other. Compared to the other groups, young talent in finance & accounting finds career opportunities the most important and the work-life balance the least important. For young people in the social sciences this is exactly the other way around: they find work-life balance the most important and career opportunities the least important. STEM students are in between both scales.
Improving employee value proposition
The Workforce Preference Study 2021 the Netherlands offers insights that employers can use to improve the employee value proposition (EVP) for young talent. An EVP consists of a unique set of compensation, benefits and development opportunities that employees receive, and a leadership style and corporate culture they experience, in exchange for the skills, time and experience they bring with them.
How can PwC help you?
PwC can help you determine the impact of current market trends and expected global developments on your business strategy and which people and skills you need to realize that strategy. We do this by improving the employee experience and creating a tailor-made EVP with a holistic approach focused on leadership, development, recognition and culture. Our market knowledge, combined with the analytics of your business data and the WFPS database, gives us the data-driven foundation to reshape your workforce strategy and help ensure optimal execution.
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