November 21, 2018
Career opportunities with SMEs are growing, but graduates not convinced
Small and mid-sized businesses have hired three times more people than larger businesses over the past five years and could overtake large companies by 2030, according to new analysis of the latest ONS data commissioned by Santander Business Banking. However, separate research commissioned by the bank has found that significant numbers of young people are failing to recognise the significant job opportunities that SMEs offer. Just a third (35 percent) of Generation Z and Millennials leaving full time education say they wish to work for an SME, while an even smaller proportion, just one in six (18 percent), want to work for a start-up or micro business. (more…)
Over seven in ten UK employees want their employers to do more to motivate them claims a new study from Reward Gateway which suggests that some of the alarming effects that being unmotivated has on employees included a worsening in mood (60 percent); reduction in productivity levels (48 percent); declining mental health (46 percent) and a reduction in quality of work (40 percent). Over a quarter (26 percent) say their relationships with family and friends suffer and 2 in 10 admit to drinking more alcohol when lacking motivation.
Generation Z, the latest generation of workers to enter the workplace (aged 18-24) are social creatures a new report suggests, preferring to work in an office environment, with only 8 percent thinking they work best from home compared to 20 percent nationally. However, putting aside the assumption this is because they’re sharing a cramped flat or living with parents, even within the office environment, the vast majority (81 percent) think social and communal areas are important workplace facilities compared with only 64 percent of all employees and 58 percent of Baby Boomers. 
Young people leaving education and looking for work may be missing out on potential employment opportunities by failing to consider Small and Medium Enterprises (SMEs) and the advantages they offer, new research from Santander UK claims. ‘Gen Z’ and Millennials do not believe SMEs offer the same job security or salary as large businesses, meaning just a third (35 percent) of young people leaving education in 2018 want to work for smaller employer, and an even smaller proportion, just one in six (18 percent), want to work for a start-up or micro business. The most popular career aspirations for Generation Z and Millennials are to work for a large firm (51 percent), the public sector (51 percent) or a global multinational (49 percent), because of a perceived lack of job security (56 percent). There is also the belief that SMEs offer a lower salary (46 percent) and fewer opportunities for progression than large companies (33 percent). Yet the majority (70 percent) of SMEs are actively recruiting for entry level roles, whether that be graduates (43 percent), further education leavers (36 percent) or school leavers (35 percent).
As fresh graduates from generation Z, i.e. those born between the mid 1990’s and 2000 are enter the workplace, new research from Perkbox claims that over 1 in 3 (36 percent) admit that the workplace perks are one of the most important deciding factors on whether to accept a new job or not. These post-millennials are also the group most likely (32 percent) to prefer smaller benefits that they can enjoy on a more frequent basis, all-year-round, over one annual event, such as a Christmas party. The top three workplace perks most popular amongst Generation Z included simple benefits, such as receiving a day’s annual leave on your birthday (86 percent), followed by free coffee and hot drinks (85 percent), and flexi-hours (83 percent). Despite this, Generation Z feel less deserving of workplace benefits than co-workers born pre-1995, with fewer than half (38 percent) believing they should benefit from such offerings – which is less than any other age group.
