35% of Gen Z expect a pension in their first job

Generation Z-young people-2015

Around a third (35%) of Generation Z (16-19 year olds) are expecting a pension as standard in their first job, according to research from employment services firm Adecco, conducted in March 2015.

The study, which surveyed 500 16-19 year olds in full-time education and 501 16-24 year olds who have applied for full-time jobs in the last year, found that less than a third (30%) would reject an offer due to an insufficient salary.

The research also found:

  • Nearly three-quarters (70%) of respondents expect to earn more than their parents at the height of their career.
  • 16% of respondents expect free digital devices in the workplace.
  • 12% expect gym memberships.
  • 26% expect time off work to travel.
  • 34% of respondents think the best way for employers to engage with young people is at school and university level, whilst 27% believe social media channels are the most effective method.
  • 33% would revert to family or friends over online sources when searching for their first job.

Alex Fleming, managing director of Adecco, said: “Contrary to popular opinion, this research shows that Gen Z have rather conventional expectations of the world of work.

“Our research provides key lessons for businesses recruiting the next generation: don’t be tempted to abandon tried and tested recruitment methods, such as university careers fairs, for digital only approaches. Employers should also prioritise a traditional package featuring a pension over more short-term offers such as gym membership.  

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“Evidently, Gen Z are a focused bunch, with the determination and energy to succeed. With expert digital skills and global mobility on their side, top talent from this age group will be difficult to hold on to and messages from employers will have to be quite unique to stand out and get their attention.

“Listening to their values and expectations and developing recruitment and workplace engagement accordingly, will go a long way in encouraging young employees to stay loyal.”