SPANISH EDITION FRANCISCO PUERTAS ALBERTO ZAMORA

Transcription

1 SPANISH EDITION FRANCISCO PUERTAS ALBERTO ZAMORA

2 GRADUATES ARE FEELING THE LOVE As the first cohort of Gen Z talent joins the future workforce in Spain, they bring a change in perspective. Although their attitudes reflect traditional workplace values such as the desire for a clear career path and stability, these potential employees bring a future-forward outlook in the form of digital skills and mindset to any employer. This is good news for employers in Spain who have found it hard to fill critical positions, despite the country s high unemployment rate. 1 The skills and knowledge university graduates bring particularly digital are in high demand, but low supply. New 2017 graduates are willing to commit and ready to roll up their sleeves, according to a new Accenture Strategy study. In return, they are looking for an engaging employee experience that takes full advantage of their degree. 2 Many see their predecessors feeling underemployed, as 65 percent of recent 2015/2016 graduates who have a job, say that job does not utilize their degree. New graduates are keen to avoid the same fate. And with one of every four university top graduates in Spain going abroad to develop their careers, domestic employers need to find ways to attract and retain them. 3 Once in the workforce, recent graduates prefer to work for a large company NEW 2017 GRADUATES RECENT 2015/2016 GRADUATES 32% Large employers in Spain have an additional hurdle to overcome: Only 18 percent of new graduates prefer to work for a large company. However, an additional 30 percent do not have a strong preference as to the type or size of their future employer. This gives large companies an opportunity to win these graduates over, before they decide to start their careers elsewhere. 18% 17% 18% 9% 5% 2 GEN Z RISING SPANISH EDITION LARGE COMPANY MID-SIZED COMPANY SMALL COMPANY

3 WANT TO RETAIN GEN Z? GIVE THEM CHALLENGING, MEANINGFUL WORK While 84 percent of new graduates agree their university adequately prepares students for today s digital workforce, 65 percent of graduate hires who finished university in 2015 or 2016 feel underemployed. Recent graduates are twice as likely to commit to their first employer for five or more years if they feel their skills are fully utilized with challenging, meaningful work. Learning and development plans as part of a welldesigned, engaging employee experience become increasingly important for Gen Z workers, and can be the difference between retaining and losing digital talent. 65% Almost two-thirds of recent graduates who entered the workforce one or two years ago consider themselves underemployed When it comes to the employee experience, one size does not fit all New graduates have a variety of expectations: Skills and experience to prepare for the next job Opportunity to gain global experience Flexible hours Interesting and challenging work Opportunities to make a difference/meaningful work Training opportunities 3 GEN Z RISING SPANISH EDITION

4 A FUTURE-FORWARD TAKE ON TRADITIONAL VALUES Gen Z resembles its parent generation, Gen X, more than its Millennial/Gen Y predecessors. Senior leaders will quickly see some shared values, from new graduates taking ownership of their careers to requests for the training and work experience necessary to develop their skills. Upon entering the workforce, a vast majority of 2017 graduates (83 percent) will already have completed an internship, apprenticeship, and/or co-op showing an appreciation for the need to bring practical skills to the table from Day One as they embark on their careers. Despite this effort on their part to come to a new job prepared, the future workforce realizes they have much to learn, with 89 percent of new graduates expecting their first employer to provide formal training. Based upon new graduates desires for an employee experience with varied roles, global experience and training opportunities (see figure on page 5), large employers in Spain appear better positioned than their smaller counterparts to provide the complete package. 83% completed an internship or apprenticeship 89% expect their first employer to provide formal training None of this strays far from what their parent generation expected a few decades ago. But, this new generation of talent comes with a modern flair, bringing much desired digital skills to employers in addition to the skills relevant to their field of study. While 2017 graduates are true digital natives growing up with a device in hand from a very young age they realize keeping up with technology requires ongoing learning. Almost three out of every four new graduates (73 percent) have already taken digital or computer science related courses when they begin their first job bringing a highly marketable digital mindset with them. 4 GEN Z RISING SPANISH EDITION

5 CLASS OF 2017 CAN LEARN FROM RECENT GRADUATES Based on the experiences of recent graduates who finished university in 2015 or 2016, large companies offer more of what new graduates value. Employed full time in field of study LARGE COMPANY MID-SIZED COMPANY SMALL COMPANY GOVERNMENT FREELANCE 72% 62% 54% 52% 28% Earn more than 30,000 LARGE COMPANY MID-SIZED COMPANY SMALL COMPANY GOVERNMENT FREELANCE 54% 46% 38% 40% 48% Receive training LARGE COMPANY MID-SIZED COMPANY SMALL COMPANY GOVERNMENT FREELANCE 85% 88% 85% 88% 56% Plan to stay 5+ years LARGE COMPANY MID-SIZED COMPANY SMALL COMPANY GOVERNMENT FREELANCE 28% 23% 14% 7% 12% 5 GEN Z RISING SPANISH EDITION

6 PRAGMATISM REIGNS Employers will see a refreshing practicality in new graduates. Gen Z graduates are showing a willingness to work not just for but with their new employer on many issues. For example, nearly nine out of 10 new graduates (89 percent) are willing to relocate for a job offer. Ninety-three percent would consider taking an unpaid internship after graduating if a paid job is not available. Gen Z graduates, while flexible, expect equal flexibility on the part of their employer. Companies that can provide graduates with a personalized, engaging employee experience will reap the benefits. Recent 2015/16 graduates who get the full package including meaningful stretch assignments and work/life balance are two times more likely to make a long-term commitment to their first employer than those who feel underemployed. 89% are willing to relocate for a job offer 93% would consider an unpaid internship if a job is not available With 93 percent of 2017 graduates in Spain having considered job availability before selecting their area of study, most are showing a desire to enter fields with room for long-term growth and career development. This is also illustrated by the value new graduates place on an organization s reputation. They rank public perception of a company as the top influencer in their decision to work for that employer. Eighty-six percent of new graduates agree their education prepared them well for their career. But, they realize this preparation is just a starting platform. They are now looking to their employer as a partner in their growth, offering the challenges and career path necessary to help them advance. 6 GEN Z RISING SPANISH EDITION

7 DIGITAL NATIVES CRAVE THE HUMAN ELEMENT Having grown up in an age where technology is pervasive, new graduates swim well in digital waters, but at the same time they understand the importance and value of the human touch. In a world of robotics and artificial intelligence (AI), more than half (56 percent) of new graduates show a preference for face-toface interactions with colleagues, with web communication tools running a distant second (14 percent). New graduates ranked problem solving (30 percent) and communications (26 percent) as soft skills that would make them attractive to potential employers. More than half of new graduates (56 percent) welcome AI and other advanced technologies, believing they will enhance their work experience. Eighty-four percent believe their school prepared them for today s digital workforce. 56% prefer in-person meetings 84% believe their school prepared them for the digital workforce It is not surprising that these digital natives are less worried about their competency with emerging technologies. They have grown up in a connected world where humans and machines are partners. For them, working alongside technology is less daunting than mastering the softer skills of communication and problem solving. 7 GEN Z RISING SPANISH EDITION

8 A CHECKLIST FOR LARGE EMPLOYERS Large companies have an opportunity to capitalize on the inherent match between what they can offer and what Gen Z talent is looking for. REFRESH YOUR REPUTATION With your newest potential employees swimming well in digital waters, be sure to build your brand and reputation across all channels, showing candidates your company is an innovative, great place to work and is in touch with what matters to them. FUEL AND DIGITIZE YOUR TALENT PIPELINE Drive talent to your organization by offering attractive internships as a way to engage future employees. Disrupt recruiting norms by using technology to reach new talent pools at low cost. CROSS-TRAIN Create a boundary-less project assignment and staffing model to break down organizational and functional barriers and allow newer workers to learn in multiple areas of the company. Formalize the process of assigning coaches to incoming employees to help leverage their strengths, guide career paths and provide a touchpoint beyond their immediate supervisor. CONNECT THE DOTS Make each employee s experience line up to the value system of the new generation, and show each employee how his or her contributions support the organization s purpose and objectives. Allow employees to make choices that align closely to their values as they change over time, from the work they do and learning opportunities, to work-life balance and compensation. PLAN FOR GROWTH Develop an individualized skills and career plan for new hires, showing them your company invests in their advancement by providing multiple, different experiences early in their career. Ask them to help co-design their development plans to ensure you are utilizing their skills to the fullest and providing growth opportunities. While these actions are not comprehensive, they are a healthy start to welcoming the university graduates headed your way. Making the most of the match between their values and the employee experience your large company can offer helps position your organization favorably in the ongoing competition for top talent. 8 GEN Z RISING SPANISH EDITION

9 JOIN THE linkedin.com/company/accenture-strategy CONTACT THE AUTHORS Francisco Puertas Alberto Zamora CONTRIBUTORS Rocio Peña Céniga 9 GEN Z RISING SPANISH EDITION

10 NOTES 1. Bloomberg, Spain Runs Out of Workers With Almost 5 Million Unemployed, July 01, 2016, articles/ /spain-is-running-out-of-workers-with-almost- 5-million-unemployed 2. Accenture Strategy 2017 Spanish University Graduate Employment Study. All statistics in this paper are from this source, unless other specified. 3. Huffington Post, España, a la Cabeza en Fuga de Cerebros, January 20, 2016, espana-fuga-cerebros_n_ html ABOUT THE RESEARCH The Accenture Strategy 2017 University Graduate Employment Study surveyed 1,006 students in Spain who are graduating from university in 2017, and 1,001 students who graduated in 2015 or 2016, between the ages of 18 and 24, to compare the perceptions of students preparing to enter the job market with the experiences of recent graduates already in the workforce. Survey conducted in January/February, Generations in the workforce were defined per the following birth years: Gen X: Millennials/Gen Y: Gen Z: ABOUT ACCENTURE Accenture is a leading global professional services company, providing a broad range of services and solutions in strategy, consulting, digital, technology and operations. Combining unmatched experience and specialized skills across more than 40 industries and all business functions underpinned by the world s largest delivery network Accenture works at the intersection of business and technology to help clients improve their performance and create sustainable value for their stakeholders. With approximately 401,000 people serving clients in more than 120 countries, Accenture drives innovation to improve the way the world works and lives. Visit us at ABOUT ACCENTURE STRATEGY Accenture Strategy operates at the intersection of business and technology. We bring together our capabilities in business, technology, operations and function strategy to help our clients envision and execute industry-specific strategies that support enterprise wide transformation. Our focus on issues related to digital disruption, competitiveness, global operating models, talent and leadership help drive both efficiencies and growth. For more information, or visit strategy. Copyright 2017 Accenture. All rights reserved. Accenture, its logo, and High Performance Delivered are trademarks of Accenture. This document makes descriptive reference to trademarks that may be owned by others. The use of such trademarks herein is not an assertion of ownership of such trademarks by Accenture and is not intended to represent or imply the existence of an association between Accenture and the lawful owners of such trademarks.