CEO Monthly Oct

26 CEO MONTHLY / OCTOBER 2017 , New research shows that ambitious Gen Z expect to be promoted within 6months of starting their first job. NewGeneration Looks to Climb the Career Ladder Over a third of Generation Z (36%) expect to be promoted within six months of starting their first job - according to new research. The study, conducted by conference calling specialist Powwownow, found that men are particularly optimistic: with nearly a fifth of male employees (18%) expecting to be promoted in less than three months of starting their first job, compared to just one in 20 women (5%). The survey of 1,000 18-23-year olds also found that men are far more likely to move on from their first job swiftly, with a quarter (28%) saying they’d leave a job after 12 months or less, compared to only 13% of women. However, while Generation Z are often characterised by having short attention spans and a reduced sense of loyalty, nearly a quarter of young professionals are intent on staying with an employer for five years or more. When it comes to receiving a promotion, pay remains an important factor, with nearly three quarters (70%) of 18-23-year olds considering a salary increase the main benefit of receiving a promotion. Recognition is also key, with over half (54%) revealing that feeling valued by their colleagues after receiving a promotion, and increased self-confidence for nearly half of Generation Z (45%) with over half of women and just over a third of men citing improved confidence as a main benefit. Interestingly, only a third of women (31%) are bothered about receiving a new job title or the prestige that comes with a promotion, while 42% of men look forward to gaining a new label. Jason Downes, MD of conference call company Powwownow, discusses the findings and how they can impact on both employers and employees. “UK businesses need to recognise that the newest generation entering the workplace is incredibly ambitious and young professionals expect their employers to recognise their skills and determination. “These young professionals are simply looking for a workplace that suits their personal needs and long- term career goals, and in return, will prove loyal. Many will stay with an employer for long periods of time if they feel they are being supported, recognised for their work, and given the tools that allow them work productively and, ultimately, progress. In order to hold onto industry leading talent, employers need to evaluate how they support, recognise and promote young professionals within their business.”