The pandemic elevates employer branding to an economic factor
The global pandemic has presented unprecedented challenges to young people around the world, depriving them of important milestones in their life development. With effects that manifest themselves not only socially, but also professionally. The current Havas Prosumer Trend Report "Generation Covid" outlines how these newly formulated needs are impacting the labor market.
Challenges of the 21st century - such as climate change or digitalization - confront the younger generations with a comprehensive uncertainty about the future. Many young people now want to take this future into their own hands. Almost every second German, for example, says that he or she would like to work for a large company in order to be able to work on larger and more influential projects. This is followed by around a third who would prefer to found their own startup in order to have full control over career content and the impact of their business.
The young aspiration to find meaning and shape the world is equally reflected in the fact that more than one in three would work in a low-paid job that is nevertheless meaningful to him or her. More than half of young Germans also say they would rather work less and devote their time to problems that are meaningful to them. In a generational comparison, this contrasts with two-thirds of respondents from the baby boomer generation who disagree - a social paradigm shift.
Principles put to the test
However, the younger generations' desire for change is not only driven by content; it also does not stop at the established rules of the game in working life. Whereas a university degree was previously considered unavoidable, three-quarters of the 18- to 34-year-olds surveyed now believe that careers and a successful life are possible even without such an educational qualification. The absolute majority, around 90 percent of young respondents, also say they would support an unconditional basic income for their generation - motivated first and foremost by the generation's increased need for security, but also flexibility, so that they can invest time in the issues that are important to them.
Investment in employer branding important
"Young generations have not only had to forfeit essential experiences during the global health crisis, they have also witnessed how little has been done for them during these times. As a logical consequence, this gives rise to an increased need for security with a desire for their own control over their lives and an aspiration to help shape the world around them in a meaningful way," explains Sandra Onofri, Havas Germany Group Strategy Director. "Companies that can't or don't want to meet these demands, just like companies that don't have a compelling purpose to show for it, will lose key talent in the competitive labor market. This makes investments in employer branding, for example, an indispensable economic factor for every company."
The Generation Covid" study was created by Havas and conducted as an online survey by Market Probe International. Around 17,500 people in 32 countries took part in the study. The report is available at Havas website.
