Dive Brief:
- Generation Z is on the job hunt. In fact, 55% of the more than 440 Gen Z workers surveyed said they intended to look for a new role before the end of the year, compared to less than a third who said the same a year ago, according to a report released Wednesday by consulting firm Robert Half.
- Among those, 56% said they are in search of better perks and benefits, and half said their career advancement is currently limited. And 53% said they think landing a job with a new employer could increase their earnings.
- Compensation and financial benefits remain top of mind across generations as workers juggle inflation and higher healthcare costs.
Dive Insight:
“Younger professionals are taking a proactive approach to their careers, and for many that includes exploring new roles that offer stronger earning potential, advancement opportunities and flexibility,” Dawn Fay, operational president of Robert Half, said in a statement. “Employers should be clear about growth paths, compensation, and the support available to help retain workers and encourage them to build their skills.”
When determining whether to accept a job offer, Gen Z specifically said they evaluate medical and dental insurance, commuter benefits, free or subsidized meals, schedule flexibility, professional development and training opportunities and the 401(k) savings plan.
Pay increases, generally, have remained stable across organizations. U.S. employers said they expect to set base salary merit increases at 3.2% and total salary increases, which include merit, promotions, cost-of-living adjustments, at 3.5% in 2027, according to the results of a recent compensation planning survey released by professional services firm Marsh.
However, many employ promotions and off-cycle pay increases in their talent development, market competitiveness and hiring efforts, Marsh found. Of those surveyed, 64% said they had provided or planned to provide off-cycle salary adjustments in 2027.
At the same time, 83% of employers said healthcare cost increases force them to make tradeoffs with wage and salary increases, according to the results of a recent survey conducted by the National Alliance of Healthcare Purchaser Coalitions.
