CELEBRATING THE KING? ...OR NOT YOUR THING? CAN GENERATIONAL DIFFERENCES PROVIDE HIRING LESSONS?

Posted on 28th April 2023

The upcoming King’s coronation has shown us two things. Firstly, everyone loves an extra bank holiday! Secondly, there is a wide ranging spectrum of feelings towards the event, from a more enthusiastic older population to a far more apathetic younger demographic and everything in between. Whatever your views on the monarchy, one thing has shown itself to be clear - different generations have distinctly different outlooks and priorities. Understanding how far-reaching that is can be hugely important when it comes to shaping your hiring strategy.

WHO CARES ABOUT THE CORONATION?

A YouGov survey of more than 4,500 UK adults found clear generational differences in response to the question “Should Britain continue to have to have a monarchy, or should it be replaced with an elected head of state?” For those aged 18-24, only 32% opted for keeping the monarchy! This increased to 48% for those aged 25-49, 67% for those aged 50-64 and 78% for those 65 and over. (1)

WHAT DOES THIS HAVE TO DO WITH HIRING?

This research further reinforces the idea that generational differences and, in many cases, these tend to be correlational rather than sporadic. Crucially, this can have huge implications for shaping effective hiring strategies as well as assessing your wider company culture.

We all know the generational stereotypes within the workplace - from ‘Baby Boomers’ as the stuffy traditionalists through to ‘Gen Z’ as chronically addicted to TikTok. Of course, these distorted caricatures aren’t really helpful to anyone, but dig past these stereotypes and genuinely useful generational trends start to emerge on topics from remote working to CSR and beyond.

WHAT DIFFERENCES ARE WE TALKING ABOUT?

1. ENVIRONMENTAL FACTORS

Research by KPMG shows that “Environmental, Social and Governance factors are influencing employment decisions for almost half of UK office workers, with millennials and younger workers driving the growing trend of ‘climate quitting’ – seeking out a more environmentally friendly job”. (2)

2. MENTAL HEALTH

Research from TELUS Health found “workers under 40 are more likely to value wellbeing support (35%) over a 10% hike in their salary, compared to over 40s (22%)”. It also showed that “workers over 40 reported feeling slightly less comfortable when discussing their mental health.” (3)

3. VALUING CULTURE

Research from Ernst & Young found younger workers were more concerned with their company’s culture. Nearly 40% of Gen Z and Millennials reported that “culture plays a big part in their intent to stay with their employer”. This figured dropped to less than 30% for Baby Boomers. (4)

4. REMOTE AND HYBRID WORKING

Accordingly to a study by Joblist, “Older employees want to work fully remote nearly twice as much as younger ones”. It was also reported that “49% of millennials surveyed want to work fully remote, whereas only 27% of Generation Z feel the same way”. (5)

5. CHANGING ROLES

A survey cited by Indeed showed that “From ages 18-24, they (employees) change jobs an average of 5.7 times”. For those aged 25-34 this reduced to 2.4 times, for those aged 35-44 it reduced again to 2.9 jobs, and then to 1.9 jobs for those aged 45-52.” (6)

SHAPING A HIRING STRATEGY

When done right, an inclusive, contemporary working culture will enable the different strengths of each generation to shine through, creating a stronger overall workforce. By providing options for employees rather than compulsory initiatives you’ll allow breathing space for each employees’ needs to be met. Additionally, none of this needs to be at the expense of your organisation can’t have it’s own over-arching identity guided by sound values and commercial objectives. For more tips you’ll need to contact the Netbox Recruitment team on 0344 2572070 or email info@netboxrecruitment.com.

(1) https://www.bbc.co.uk/news/uk-65326467
(2) https://kpmg.com/uk/en/home/media/press-releases/2023/01/climate-quitting-younger-workers-voting-esg.html
(3) https://www.peoplemanagement.co.uk/article/1815225/half-young-workers-fear-opening-mental-health-will-impact-career-survey-finds
(4) https://www.ey.com/en_us/news/2022/10/ey-generation-survey-reveals-impact-company-culture-plays-in-employee-retention
(5) https://www.computerworld.com/article/3685792/gen-zers-and-millennials-split-over-the-appeal-of-remote-work.html
(6) https://www.indeed.com/career-advice/starting-new-job/how-often-do-people-change-careers