According to a joint study conducted by St. James’s Place Financial Adviser Academy, and the hiring platform Indeed, nearly 68 percent (of Gen Z workers) in the UK use social media for career planning.
Gen Z workers use platforms like LinkedIn, Instagram and TikTok nearly twice as often as Gen X workers (26%) for career advice.
The reliance on social networks is part of an overall trend amongst younger workers who adopt a more deliberate approach to career planning than previous generations. Gen Z respondents were only 18% more likely to say they found their career by accident, compared to the national average of 32%.
Younger workers invest more in career planning
Gen Z and Millennials also invest more time, effort, and money in formal career training compared to their older counterparts. Around 26 percent and 28 percent, respectively, of Gen Z workers have received formal career training through college, university or apprenticeships. Only 17 percent of Gen Xers and 15 percent Boomers took similar formal education paths.
The financial pressures on younger workers are affecting their career planning. Nearly 35% of Gen Z workers and 57% of Millennials said they put money ahead long-term planning. Comparatively, Gen Xers and Boomers report similar feelings at 51 percent each.
Gee Foottit is the Partnerships Manager for St. James’s Place Financial Advisor Academy. She said: “It’s true that our parents had it easier in terms of finding jobs and were often able to work out their careers intuitively, without a formal plan. Young workers feel that they do not have the same freedom in today’s world, so we are seeing more deliberate career planning. It’s fascinating to see young workers who are pursuing their career goals using both formal and informal career guidance via social media.
Social Media: A Career Planning Tool
Social media plays a major role in determining how Gen Z views their career. The survey revealed that 68 per cent of Gen Z workers used social media platforms to plan their career paths and research job opportunities. Over half of Millennials also embrace this trend. 53 percent use social media to plan their career.
Gen Z workers also have the highest likelihood of seeking formal career guidance. Although 43 percent of Gen Z workers haven’t received formal career advice, older generations such as Gen X (49%) Millennials (51%), and Boomers (52%), are more likely to receive it.
Researchers found that younger workers wanted stability in their chosen careers. Fourty-four per cent of Gen Z workers and 47 per cent of Millennials intend to stay in one profession for the rest of their lives, compared with 39 per cent of Gen X, and 40 percent Boomers who are more willing to change career paths. It does not mean that younger workers will not explore different career paths.
Gee Foottit continued, “With 24 percent of workers feeling unsatisfied in their current careers, it is important to remember it’s not too late to switch careers. Having the courage to do this can reap many benefits.” St. James’s Place’s Financial Adviser academy has people of all ages, but the average age is early 30s. The switch is easier than people think. They’ve had enough experience by this stage to know what they want out of their careers and they have a lot of transferable skills that can help them. “
