Gen-Zers are a generation that prides themselves on standing in what they believe in. According to new data, this applies to their job search process as well and employers should take heed.
A new survey analyzing post-secondary and recent graduates in US found that 85% of respondents said they are “less likely to apply for a job if the company does not disclose the salary range in the job posting.”
This came out of Adobe’s Future Workforce Study—conducted in December in partnership with Advanis—which included the thoughts and opinions of 1,000 respondents who recently graduated from college and post-secondary education programs.
“We’ve found that Gen Zers value transparency and are generally more open to having salary discussions than previous generations and are more likely to feel comfortable sharing their salary with their peers,” Vaishali Sabhahit, global head of university talent at Adobe, said in an interview with the Insider. “This could be attributed to them being digital natives and having grown up consuming social media content where people are sharing their everyday life with their followers.”
Sabhahit continued: “It’s also important to consider that Gen Zers lived through the worst of COVID, and most likely saw people they know personally lose their job or take a pay cut.”
This comes after ESSENCE previously reported that employers have been less than forthcoming about salary ranges despite laws being put in place requiring them to include pay specifics in job listings.
“It has come up a lot,” said Melanie Naranjo, vice president of people at Ethena, a New York-based compliance training platform in an interview with the LA Times. “Part of the challenge here is that pay transparency is new, so there is this fear among HR people about this new information, that people will not understand it. So the feeling is, ‘Let’s help cushion this, so we are not pressured.’ Do I think it’s the right approach? No.”
This comes at a time when both employers and employees are navigating an ever-evolving workforce.
“There is a lot of friction in finding the right match for firms and workers,” Ben Zweig, CEO of Revelio Labs, which recently published an analysis on pay transparency, told Insider. “If we can create more alignment on what workers can expect when they join a firm, then that can result in better matches.”
He added: “Workers won’t apply to firms that don’t meet their compensation expectations.” Zweig said it may also help existing workers with having a “little bit more negotiating power.”
“In addition to simplifying the offer negotiation process, salary transparency helps employers close wage gaps across gender, race, and background,” Sabhahit told the outlet. “It can also play an integral part in helping to build an environment of trust and openness. When employees know that they’re being compensated fairly for their work, productivity and overall morale are likely to increase.”