- Nearly seven in 10 (68%) Gen Z workers have used social media to plan their careers. This generation are nearly twice as likely to utilise social media for this purpose than Gen X workers (26%)
- In today’s competitive job market, younger workers are having to be more intentional with career planning: only 18% of Gen Z fell into their career by chance, compared with the national average of 32%
- Gen Zs are sweating every avenue to achieve their career ambitions, and are the most likely to also receive formal career advice
- However, a divergence in younger workers’ mindset towards careers is prevalent as financial pressures impact career planning: nearly three in five Gen Z (59%) and Millennials (57%) are prioritising earning money over thinking about their career
Nearly seven in 10 (68%) – or 6.4 million Gen Z workers use social media to career plan, according to a research collaboration by St. James’s Place Financial Adviser Academy and leading hiring platform, Indeed – as the younger generation are leaving nothing to chance, committing more time, effort and money than their parents and grandparents.
In today’s competitive job market, many younger workers can’t afford to leave their careers up to fate and are less likely to have not planned their career. Only 18% of Gen Z say they fell into their career by chance, compared with the national average of 32%.
Meanwhile formal career planning was less commonplace for older generations who are more likely to not have planned their career; Over four in ten Gen X and Millennial workers (48% and 44% respectively) admit they never formally planned their career trajectory.
Younger works investing more time and money training for career
What’s more, younger people are more likely to have trained for their career via official channels, with around a quarter training at college or university or through an apprenticeship (26% of Gen Z and 28% of Millennials). Meanwhile, Gen X and Boomers were much less likely to have formally studied and trained for their career (17% of Gen X and 15% of Boomers).
With younger workers committing a considerable amount of time, money and effort into their careers, they are more likely to want to stick to one career in their lifetime. Over four in ten Gen Zs and Millennial workers (44% and 47% respectively) plan to do so compared with just 39% of Gen X and 40% of Boomers, who are more open to exploring other career paths.
Gen Z turn to social media for career advice
With the rise of social media over the last decade, many young workers are utilising this, not just for personal use but professional benefit too. Nearly seven in 10 (68%) Gen Z workers have used social media to plan their careers. This generation are nearly twice as likely to utilise social media for this purpose than Gen X workers (26%). Interestingly, Millennial workers were less likely than Gen Z to turn to social media to plan their careers (53%).
However, Gen Z workers are not just relying on social media for their career advice, and are in fact, the most likely generation to receive formal career advice. While 43% of Gen Z haven’t received any formal career advice this increases to 49% of Gen X, 51% of Millennials, and 52% of Boomers.
Gen Z: a tale of two different career mindsets
Interestingly, there appears to be a divergence of views around career planning among the younger generation, with those on the other end of the spectrum opting not to take hard and fast approach to career planning. Around one in two Gen Z (53%) and Millennials (46%) plan to branch out and explore numerous careers over their lifetime.
Money making vs career planning
What’s more, a focus on earning money in the immediate and short-term, appears to come at the expense of career planning for a considerable proportion of younger workers. Nearly three in five Gen Z (59%) and Millennials (57%) admit to prioritising earning money over thinking about their career, as financial pressures impact career planning: This sentiment is slightly lower among older workers (51% of Gen X and 48% of Boomers).
Gee Foottit, Partnerships Manager at the St. James’s Place Financial Adviser Academy, said: “The job market has become much more competitive in recent years and coupled with the rising living costs, we’ve seen a fundamental mindset shift among many workers’ attitudes to their careers. It’s fair to say, our parents could find jobs easier and often were able to approach their career intuitively and work things out without a formal career plan. In today’s climate, young workers often feel they don’t have the same luxury, and in turn, we’re seeing more intentional career planning. Utilising both formal career advice and informal avenues for career guidance through social media, it’s interesting to see how determined many young workers are in their career aspirations.
“However, with one in four workers (24%) feeling dissatisfied with their careers, it’s important to remember that it’s never too late to make a career switch, and having the courage to do so can reap many rewards. We have people of all ages join the St. James’s Place Financial Adviser Academy, with the average age being early thirties. And the switch can be much simpler than they might at first think. By this age and stage, they’ve gained the experience to know what they really want from their working lives – and have loads of transferable skills to help them achieve this. “
Indeed’s top tips for using online resources when career planning:
1. Research who has the job you want – Look up who is already doing your dream job. What kind of skills or experience do they have? What common strengths do they portray? What communities are they active in? Use it as an opportunity to see how you might enhance your skills or experience to make yourself a more attractive candidate for that dream job.
2. Optimise your online profiles – If using your online profiles to network, make sure to add some more details about your relevant experience and achievements. If you’re looking to make a career switch, highlight the transferrable skills you’ve learned from your previous jobs.
3. Set aside time to check in online – Be active in relevant online communities. Regularly engage with content by liking, sharing, and commenting on posts from your network and industry leaders. Show your expertise by providing valuable insights – sharing interesting research or learnings from a recent project, for example.
4. Make the first move – Don’t be afraid to reach out directly to recruiters or professionals in your network. A friendly, concise message can open doors!
5. Utilise job searching tools – Indeed has resources to help you at every stage of your career journey, including the planning and research stage. Even if you’re not ready to make the switch just yet, you can find out valuable information by searching up relevant jobs and salary information, career guide articles, as well as company reviews. When you’re ready, you can also set up alerts for jobs so you’re notified straight away of any openings that match your criteria.
6. Join networking events and webinars – Meet people in the industry you’d like to break into and identify potential job opportunities through online event networking. If you’re looking to make a career switch, this is also a good way to hear from people about how they broke into the industry, and get a better understanding of what that career would entail.
