A new generation of talent is entering the workforce with a distinct set of values and expectations — a very different set of expectations than generations before them. As a result, employers must adapt and revise their recruitment strategies to attract younger candidates to Finance.
The unemployment rate among finance workers is roughly half all other industries, meaning companies must work harder to recruit prospects away from competitors. By tapping into what your candidates value in a job, you’ll be a step ahead of the pack. Flexibility, a stellar benefits package, and communication are the top priorities for Gen Zers looking for a new job.
Now that you’re on your way to understanding the needs of your Gen Z candidates, let’s get into how you can take action and attract these job seekers to your company.
Company culture is a huge factor in attracting and retaining talent. Younger staff tends to look for organizations with perks such as flexible hours, paid time off, collaborative workspaces, and the ability to work remotely. For Gen Z, benefits like these are more important than providing membership to the gym in your building.
Your company should have a web page dedicated to company culture and employee benefits and should actively promote it internally. Describing your culture on your website, social media, and job listings is the best way to seek out employees who will be a good match.
Interview-building tools enable employers to create questionnaires that help them get to know candidates on a more personal level. Ask questions about their interests, extra-curricular activities, ideas for process improvements, and communication preferences at past jobs to gain a better understanding of your potential new hires. A video tour of the office is another fun, branded way to introduce would-be workers to their prospective work environment.
Candidates expect a fast-paced hiring process that takes them from initial application to job offer in two weeks or less. Delays in scheduling interviews can result in declined job offers or loss of candidate interest. With an interview scheduling platform, applicants schedule their live interviews online based on your hiring team’s availability. Most candidates respond within 24 hours, significantly reducing time-to-hire.
Gen Z finance candidates appreciate the advantages interview tech provides when considering employment since they have grown up surrounded by technology. The old-school application system seems stale to these new candidates — they won’t waste 15 minutes filling out where they studied and interned on your company webpage.
By contrast, video interviews can be completed anywhere, at any time. One-way video interviews add flexibility to the hiring process, which, if you’ve been paying attention, is one of the most important things to Gen Z’s. In addition, many finance candidates already have a job, so using a platform like interviewstream’s interview on demand to host the initial screening interview serves as an effective way to get qualified talent into the pipeline.
Job hopping is a reality for any generation that grew up after the moon landing, but we don’t often ask ourselves why that is. The reason behind so many millennial and Gen Z job hoppers is likely wage stagnation and lack of upward mobility at their company. Not related, but equally important to Gen Z recruits, is the social mission of the company — are there opportunities to volunteer or does the company give back to the community?
Prospective recruits prefer to work for companies that care about their values and professional growth. Some finance firms found an innovative way to tick both boxes and offer a few days of PTO that their employees can use to volunteer for their favorite charitable organizations.
interviewstream is the perfect tool to attract younger candidates. We combine ease-of-use with the flexibility to schedule and record responses to interview questions, helping you show your candidates that you value their time (all while saving your time).
Using interview tech to simplify your hiring process gives you a leg up on the competition. Show your candidates your company culture, tap into the values they care about, and scoop them up before your competitors — reach out to us today to get started.
Esteban Gomez is the Director of Marketing at interviewstream. He loves learning and has a passion for traveling, having visited many countries including China, Colombia, Italy, and Peru.