"Financial stability is a very recognisable condition for this target group," says Elieke Vastenhouw, PwC expert in workforce transformation. Together with her colleague Daphne van Engelen, Workforce Strategy consultant at PwC, she looks at the most chosen preferences and notable risers in the study.
"We have had relatively high inflation for three years now, with young people mainly spending their disposable income on housing and groceries," Vastenhouw continues. "So, it is expected that this outcome keeps recurring. For comparison: in a previous Hopes & Fears study from 2022, personal growth was still the top priority. Since the pandemic, it has also become clear to young people that an income is necessary to pay off student debts or cover rent increases."
In addition to salary increase (rank 1), the work must be challenging and interesting (rank 4) for this target group. Fortunately, we live in an AI-driven era. Are organisations aware of this?
Vastenhouw: "Companies must remain aware of what engages employees. Do you still think in terms of traditional roles, or do you already prioritise skills that can be continuously developed? Maybe repetitive work can be increasingly taken over by AI, allowing those employees to engage in more meaningful work. For companies already worried about their appeal to twenty- and thirty-somethings, there is work to be done. This group will soon make up forty percent of the workforce."
"The further rise of AI and technology can shape organisational strategies, especially in the mix of tasks and technology. This target group will no longer work sixty hours a week for a forty-hour salary, as previous generations - not always willingly - have done. Unlike these previous generations, this group is notably more vocal and assertive. So, my tip to organisations: broaden your perspective, thoroughly investigate in which direction your target group wants to develop and especially focus on how technology can support that."
In the report, career development and support rank 10, important conditions for young talent in their careers. How can organisations act on this?
Vastenhouw: "What defines a career today? Is it still about moving upwards or also sideways? Or precisely in deeper specialisation. Organisations must start discussing what career growth means for young talents and what they need to facilitate it. Or will employees become sustainably employable with skills that will be increasingly in demand in the coming years? What must an organisation offer to support the careers of this group? For each organisation, the questions and answers will be different."
In the study, young talents respectively mention colleagues, appreciation, and a positive work atmosphere as important factors to feel engaged with their work.
Van Engelen: "That's right. Once you start working full-time, colleagues become even more important because you suddenly spend much more time together. A positive work atmosphere and supportive colleagues are important reasons for young talents to choose and remain with an employer. If these elements are missing, they tend to leave quickly."
One of the most notable risers in the WFPS is that young people want to make social impact through their work (rank 18, moving up 25 places compared to last year).
To facilitate this, van Engelen and Vastenhouw have proposed some ideas. Van Engelen: "As a company, you don't have to incur costs immediately. For example, you can offer employees the possibility to take a few days off per year for social leave or give them time off when they want to donate blood."
Vastenhouw: "Many organisations are embracing sustainability of planet and people in the broadest sense. Organisations ensuring a fair income can often better profile themselves in this area, for example through CSRD in the annual report. But there are also companies that find it more difficult to showcase their social contributions due to their business model, such as luxury goods producers. Yet, they too can leverage their energy, time, and resources to contribute positively to society. The key is to start a conversation with your employees and align with them on what they find important regarding this theme."
Finally: which one-liners should companies stop using immediately in job advertisements?
Van Engelen: "I think of 'competitive salary' or 'market-conform', and 'no 9-to-5 mentality'. These can be more original. Sometimes job advertisements seem to be identical across all companies."
Vastenhouw: "These one-liners also say nothing about your organisation, and soon, salary ranges will be mandatory to mention due to the European Pay Transparency Directive. Candidates will decide for themselves if the salary is competitive. If you ask employees why they work here, no one says 'because the salary is so competitive'. Instead, ask employees and incorporate those testimonials into the job advertisement."