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Changing Priorities and Tech Skills for Gen Z Workers: Job Market Insights

Over the past few years, we have seen major shifts in the workforce, particularly from the perspective of Gen Z workers. The youngest generation in the workforce has different priorities and goals than their predecessors.

They are entering the job market during a time of great change and uncertainty, which has greatly influenced what they value and prioritize. Additionally, companies are looking to hire more tech-savvy workers, prioritizing candidates with a range of tech skills.

In this article, we will delve into the changing priorities for Gen Z workers and the tech skills in high demand. Changing Priorities for Gen Z Workers:

Gen Z, born between 1997 and 2012, are now entering the workforce in large numbers.

Unlike previous generations, Gen Z values stability, benefits, and high starting salaries when evaluating job opportunities. Stability, in particular, is highly valued by this group, as many grew up during a time of economic turmoil and extensive layoffs.

They want job security and stability, and they are willing to pass on higher salaries if it means they will have consistent employment. Benefits are a top priority for Gen Z workers as well, especially healthcare and retirement benefits.

Unlike previous generations who may have been willing to sacrifice benefits for higher salaries, Gen Z views comprehensive benefits as a reflection of how much a company values its workers. Moreover, with the rising healthcare costs, comprehensive healthcare benefits can make a significant difference to them.

High starting salaries are not as important for Gen Z as it was for previous generations. Instead, they are willing to work for lower starting salaries if it means they will be able to grow their careers and gain meaningful skills and experiences.

They place a considerable amount of value on training and learning opportunities, as they want to continuously grow and develop as professionals. Economic Climate Influence on Priorities:

Given the current economic climate, it is unsurprising that stability is highly valued by Gen Z.

During the Great Recession, many Gen Z workers saw their parents lose their jobs or even their homes. Therefore, this experience has led Gen Z to prioritize workplace stability in their job search.

This generation is also more realistic about their career goals, preferring to make decisions based on job stability, rather than following their passions or interests. Gender Pay Gap in Salary Expectations:

For women, pay expectations are a considerable challenge, especially if they pursue careers in typically male-dominated fields such as engineering.

According to research, women expect 10-15% less pay than men, on average. Women studying engineering majors, in particular, typically expect to receive lower salaries than men.

This could be because women often have less exposure to the salaries paid in these fields, and this lack of information contributes to their lower salary expectations. Tech Skills in High Demand:

A considerable number of jobs with the most expansive projections of job openings in the coming years are technology-focused.

This has made high-tech job skills in demand today and for the future. Cybersecurity, software development, UX designer, product marketing, SQL, data science, Java, product management, machine learning, and information security are some of the tech-related jobs and skill keywords that are the most in demand right now.

Candidates with expertise in these areas will be in high demand as they can help organizations to be more efficient and more productive. Increase in Interest for Jobs Requiring Tech Skills:

More and more students are interested in participating in computer and tech fields, and these trends look promising in higher education.

In 2018, the National Science Foundation reported that computer and information science degrees outnumbered education majors for the first time. However, this is not the case in all fields, with some fields in the STEM category losing favor with students.

By 2023, graduates with robust tech skills will be in high demand to meet employers needs in the constantly evolving technology sector. Decrease in Interest for Big Tech Companies:

Candidates with in-demand tech skills have a broad range of companies to choose from and arent necessarily drawn to the big tech companies anymore.

Many are looking for newer, more interesting job opportunities at start-ups or small or midsize enterprises. According to Google Trends, there has been a decline in tech brand searches regarding the Class of 2023, suggesting that candidates with in-demand skills are looking beyond the big players to launch their careers.

Conclusion:

To sum up, Gen Z workers bring a wealth of information about the new workforce, changing needs and priorities. They want stability, comprehensive benefits, and training and learning opportunities, as opposed to high starting salaries.

Increased focus on tech skills has emerged as a prominent trend across industries, and employers are always looking for such tech talents to stay one step ahead in the game. As Gen Zs job preferences evolve, employers must recognize the changing priorities of this unique cohort to ensure they can successfully recruit and retain top talent.

Job Application Trends for 2022-2023:

As the job market evolves, so do the priorities and goals that dictate job application decisions. The factors that influence job application decisions have undergone a shift in recent times, and job seekers need to be aware of these changes.

In this article, we will explore the top factors that influence job application decisions, the importance of high starting salary during cost of living increases, and the trending companies in job searches for the class of 2023. Top Factors that Influence Job Application Decisions:

Individuals seeking employment consider multiple factors to determine whether an opportunity is a good fit.

The top priority for job seekers remains job stability. Stability is the primary concern because it guarantees that the individual will be able to keep their job for a more extended period, which is essential for financial security.

After job stability, benefits are the second-most critical factor for job seekers, with comprehensive health plans, retirement benefits, and time off work being crucial. Compensation is the third-ranked priority, with employees looking for fair and competitive compensation packages that take into account their experience, skills, and education.

Alumni and connections are considered the fourth most crucial factor. People tend to prefer applying for positions at companies where they know someone or have a relationship with someone that works there.

A connection can often guarantee that an application is looked at, and employers give special consideration to candidates who come referred by trusted members of the workforce. Finally, company brand is the fifth most critical factor.

Job seekers today are much more aware of the culture, values, and reputation of companies, and they often consider these aspects before applying for positions. A positive reputation can help increase the number of job applications a company receives, while a negative reputation can make it challenging for companies to attract top talent.

Importance of High Starting Salary during Cost of Living Increases:

High starting salaries have always been important for job seekers, but this has become more crucial in the current economic climate. Inflation has soared, raising the cost of living and living expenses in the United States by nearly 5%.

The higher the cost of living, the higher the demand for higher start salaries. Job seekers need to earn higher salaries to keep up with the increasing costs of health care, housing, and other essential needs.

This trend is expected to continue in the coming years as inflation and cost of living continue to rise. Job seekers may need to be more specific and demanding in the salary range they require, and companies must be willing to adjust their salary structures to meet these changes.

Trending Companies in Job Searches for Class of 2023:

The class of 2023 is actively seeking employment in sought-after industries and companies that feature exciting opportunities for growth and development. Based on Google Trends, the companies that are trending in job searches for the class of 2023 include:

Raytheon, which provides defense tech solutions, including cybersecurity, software development, and missile defense.

Nike, which offers a line of athletic apparel and footwear and features a broad range of opportunities in the retail and design fields. Toyota, a leading automotive brand, which offers opportunities for both technical and non-technical team members.

Lockheed Martin, a security and aerospace company, which provides opportunities in a range of fields, including aerospace, security, and technical engineering. Chevron, a multinational energy company, which offers opportunities in operations, business, trading, and corporate services.

Capital One, which provides financial services, including banking and capital markets. Morgan Stanley, a leading financial services firm that provides wealth management, investment banking, and securities services to clients worldwide.

Boeing, a global aerospace company that provides career opportunities with a technical lens in aerospace, cybersecurity, and engineering. Bank of America, which provides banking and financial services to its customers, including commercial banking, consumer banking, and wealth management.

NASA, which provides career opportunities relating to a wide range of scientific and technical fields, including aerospace engineering, physics, and astrophysics. Conclusion:

As job seekers prepare for the workforce, they need to be aware of the top factors that influence job applications.

These include job stability, benefits, high starting salary, alumni/connections, and company brand. Increased attention on high starting salaries is critical during cost of living increases.

Additionally, as the job market evolves, job seekers can expect to see an increase in job opportunities throughout the trendy and well-established companies that will provide significant growth and career development opportunities. Job seekers must remain aware of job application trends to gain a competitive edge in today’s job market.

In conclusion, understanding job application trends is crucial for job seekers today. The top factors that influence job applications include job stability, benefits, high starting salary, alumni/connections, and company brand.

Inflation has increased the importance of high starting salaries, and job seekers must remain competitive by demanding a fair and reasonable compensation package. Companies seeking to attract top talent should closely monitor job application trends to remain competitive.

The class of 2023 shows significant interest in trendy, well-established companies that provide substantial growth and development opportunities. Overall, job seekers must prepare to meet the evolving demands of the workforce and position themselves with the necessary skills, experience, and knowledge to succeed.

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