Latest news with #youngerworkers
Fast Company
a day ago
- Business
- Fast Company
‘Job hugging' is the newest career trend: Here's what it means—and why Gen Z is into it
The era of ' job hopping ' is over—get ready for 'job hugging.' Korn Ferry, a global organizational consultancy firm, recently published a new report showing that employees are no longer moving quickly between new job opportunities, and are instead choosing to stick it out in their current positions for the foreseeable future. 'At an alarming rate, more and more employees are displaying what is colloquially known as 'job hugging'—which is to say, holding onto their jobs for dear life,' the report reads. Just a few years ago, job hopping—or moving from company to company in search of the next best opportunity— was trending among employees, especially younger workers looking to climb the corporate ladder. Now, though, the opposite is true. Korn Ferry's analysts say AI disruption, a lack of new jobs, and an unpredictable economic market are some of the main reasons why employees are doubling down on their current positions. What is job hugging? According to a July report from Eagle Hill Consulting, the majority of employees plan to stay in their current position for at least the next six months, with Gen Z employees reporting the most intent to remain in place. Further, the data found that the Market Opportunity Indicator—a measure of employees' perception of the outside job market—has dropped to its lowest level since the report's inception. The growing pessimism around employment opportunities isn't unfounded. A recent report from Challenger, Gray & Christmas found that through the end of July, U.S.-based employers had announced more than 800,000 job eliminations in 2025— the highest number of jobs lost in the same period since the global pandemic in 2020. Meanwhile, job growth has turned sluggish: Per a July report from Bureau of Labor Statistics (BLS), the U.S. economy created just 73,000 jobs in July, down from the 111,000 monthly average of earlier this year. The report also majorly edited down previous estimates for May and June job creation. Many employees are pumping the brakes on hiring as inflation rises and President Trump's tariffs continue to throw the market into periods of major flux. On top of these trends, the increasing utility of AI technology is changing how some organizations are structured, and even threatening some occupations with replacement. Korn Ferry cites all of these factors as contributing toward the growing prevalence of 'job hugging.' 'Market instability is one of the major reasons I see as to why candidates, especially to performers, are reluctant to move,' says Stacy DeCesaro, a managing consultant at Korn Ferry. 'Top performers are waiting for a more stable market before they take a risk with a new role and company. Top performers are generally only leaving if they are miserable in their current role, are offered a significant compensation increase, or are feeling very unsettled with their company's viability, leadership, or culture.' For recruiters, Korn Ferry's report notes, this trend is poised to make hiring significantly more difficult. On the bright side, though, it might be an opportunity for organizations to invest more in their top talent and encourage younger employees to put down roots.
Yahoo
08-08-2025
- Business
- Yahoo
90% of older workers report experiencing age discrimination, survey finds
This story was originally published on HR Dive. To receive daily news and insights, subscribe to our free daily HR Dive newsletter. Dive Brief: Nine in 10 workers over the age of 50 said they have experienced ageism in the workplace, according to a Resume Now survey of 878 workers conducted in May. The survey revealed 'a major disconnect between older and younger workers,' with 83% of older workers saying they felt occasionally disrespected, and 8% saying younger colleagues were dismissive or patronizing. The disrespect also translated into bias related to pay and opportunities: More than half of respondents said they were paid less than younger colleagues for the same work, with 15% saying they were passed over for promotions and 12% saying they were pressured to retire or were targeted during layoffs. Dive Insight: The Age Discrimination in Employment Act outlaws discrimination against workers 40 and over — but the problem remains pervasive, in part, because it appears to be more widely accepted than other forms of bias, an attorney previously told HR Dive. Disrespect like the kind reported to Resume Now can turn into valid age discrimination claims when comments directly reference or imply assumptions about age. For example, in 2022, a court filing showed that IBM executives referred to older workers as 'dinobabies' in internal communications; that case was settled out of court later that year. Questions about when a worker intends to retire have similarly led to lawsuits. Advocacy groups like AARP have recommended incorporating age as an element in DEI training. Through such training, employers can bring awareness to conscious and unconscious forms of age discrimination, and break down myths and stereotypes, a 2024 article for AARP's Employer Resource Center said. Employers also need to be on the lookout for potentially biased systems for hiring, promotion and other tasks as artificial intelligence becomes a more common feature in HR software. HR platform Workday Inc. currently faces a collective-action lawsuit alleging its AI-based applicant recommendation system discriminated against applicants 40 and older. In a recent development in the case, a judge ordered the company to provide an exhaustive list of employers who used its software. Recommended Reading US Steel evades former worker's ADA claim after judge determines it didn't know of his disability Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
RNZ News
22-05-2025
- Business
- RNZ News
Fewer young people interested in leadership roles, new survey finds
A global survey shows fewer younger workers have their eyes on the corner office. Photo: 123RF An international consulting firm's latest global survey shows fewer younger workers have their eyes on the corner office. Gen Z and Millennials will make up 75 percent of the workforce by 2030, but only six percent of the 23,000 surveyed by Deloitte were motivated by reaching senior leadership positions. Deloitte partner Lauren Foster told fellow Gen X-er, Nine to Noon's Kathryn Ryan, the six percent figure was the key takeaway from the firm's 14th survey - and believed two key elements were at play. Reflecting on her 20s and early 30s, she said "getting the corner office probably wasn't top of mind", and so, "age and stage" was likely to be a factor in the result. But she also suspected current leaders didn't make the top role look that appealing. "When you ask any senior executive how things are going, they're going to tell you they're busy - that's the number one thing. Maybe they look stressed or feel stressed," Foster said. "I think when this generation... [who are] constantly on their devices, and getting all this information, look up at leadership... [it might] not feel super compelling for them." Foster said it was clear the younger workforce wanted to be invested in, but there was a gap between the expectation and reality of on-the-job training and mentoring from leaders - with many of those in management positions Millennials themselves. She said the report also showed that younger workers prioritised setting boundaries, getting more feedback and coaching - things that didn't have to cost a huge amount of money. "Having good conversations with your people, diving into those coaching and mentoring conversations, you don't need to run an expensive programme. To do that, you just need to invest the time." Business New Zealand chief executive Katherine Rich was surprised by the result and said she thought more young people would want to lead. She said younger workers were likely focussed on fulfilling their current role and not necessarily imagining themselves as a chief executive. "But over time this demographic group is going to have to get used to leadership, because it's not that long before Gen X is going to hand over the keys," Rich said. "We are going to have to have a catchment of leaders who are feeling confident and capable." She believed a 'flattening' of hierarchy in some workplaces would encourage the leadership muscle in younger workers. The survey also showed both Gen Z and Millennials had high expectations for their employers, wanted career progression and would job hop to get it. It also showed most prioritised work-life balance. Rich said discussions about work-life balance were positive, but warned it would always be a juggle. "Sometimes I wonder for many if it really is a holy grail, because if you're going to be an elite performer - in anything you do - within business, within life there is always that aspect of working hard, and consistency." Meanwhile, Foster, who has been at Deloitte for 15 years, said she often wondered how many of the firm's graduate intake would still be there in a decade's time. She said the generations were much more mobile and confident they could secure work elsewhere - especially New Zealanders embarking on an OE. Rich said one of the things that stood out for her in the report, was that younger workers were thinking more deeply about purpose, workplace values, and what a job could do to them - and employers needed to pay attention. She said Gen Z-ers were coming through with a confidence she didn't recognise and employers would have to work hard to hold onto them. "There is an investment in the younger generation, and you are going to lose some, so, I think we have to get used to that. "But, I think what this report reminds us is that if there is authentic leadership, where you are engaging with these younger generations. "I think some of us as Gen X leaders can be confident that if we bring out authentic selves we have a lot to teach them - they want to learn, they want to be mentored." Sign up for Ngā Pitopito Kōrero, a daily newsletter curated by our editors and delivered straight to your inbox every weekday.
