Signs that Gen-Z’s career expectations could be somewhat over-egged emerged earlier this month with the publication of research from Walters People. According to the recruiter, 52% of Gen-Zers expect to be promoted every 12 to 18 months, and will start looking for work elsewhere if that doesn’t happen.

At the same time, figures show that HR departments are stoking that hunger. To keep Gen-Z talent engaged amid the current economic pinch, cash-strapped employers have unleashed a glut of ‘senior-sounding’ titles into the jobs market, without the experience or skills requirements – let alone salaries – to match.

Over the past year, UK and Republic of Ireland-based roles advertised with ‘lead’ or ‘manager’ in the title and requiring a maximum of just two years’ experience rose by 53%.

Indeed, the research cites EY’s decision last year to create 1,000 new ‘partners’ in its ranks, despite that cohort having zero access to the type of equity share that the title has traditionally implied – casting doubt upon its ultimate relevance.

Incentive – or deterrent?

Further perception problems around job title inflation could be labelled as unintended consequences. Recent research by US HR software provider Datapeople indicates that ‘senior’ in a job title could throw off any jobseeker who doesn’t view themselves as such – regardless of the listed requirements.

Walters People Director Janine Blacksley says: “It used to be the case that titles like lead, principle, partner and VP took years of experience and hard work. However, that now seems to be changing, with professionals being awarded such titles despite only being in the primary stages of their career.

“Employers must be aware that the pendulum swings both ways: attaching senior titles to junior positions can deter suitable candidates as much as it attracts them, making them feel too underqualified to apply,” she stresses.

Chris Goulding, Managing Director of accountancy, finance and HR recruiter Wade Macdonald, says it’s unsurprising that employers are using senior-sounding titles to give staff a sense of progression amid a competitive jobs market. However, he warns that while this may be an effective, temporary strategy to meet Gen-Zers’ expectations, it won’t benefit them in the long run.

“Slapping a ‘senior’ label on a job title will not teach employees the skills and tools essential to their career. And when they come to finding a new job, those employees may find they are underqualified for the role they have been benchmarked at,” Goulding says.

Guidance and mentorship

“Employers must take a realistic approach to the expectations of prospective staff during the interview phase,” says Lee Owen, Director, South East Finance, at recruiter Hays. “This will ensure that career progression is talked about early on, and that realistic timelines and opportunities for moving up the career ladder are shared.”

Owen warns that accountancy and finance leaders who are not transparent about career progression opportunities straight away will risk losing staff to those who are. “As such, make sure you are clear with candidates that they will receive progression plans, guidance and mentorship from their managers, so they will be able to improve their performance.”

Once an employee has started in a new role, it is important to put in place regular meetings every two to four weeks, right up to the end of probation, Owen advises. That will enable managers to check whether the employee feels that the organisation has delivered upon the expectations discussed. “If there is any misalignment, it gives you the chance to address it before the candidate resigns.”

In large companies, the scope for promoting staff quickly is often restricted, so managers should consider other ways to incentivise staff – for example, bonuses and other non-financial rewards, such as extra holidays, Owen suggests.

Vision and mission

As well as laying out clear and realistic progression and promotion timelines, Goulding says employers should invest in training for their team and support any studies that staff may want to undertake. And as employees want to feel that they are integral team members whose opinions matter, line managers should make reviews two-way occasions and encourage feedback.

“Leaders should also put aside time to regularly communicate the company’s vision and mission and to involve staff in decision-making – even if their ideas can’t always be utilised,” Goulding says. “That will go a long way towards making everyone feel that they’re pulling in the same direction.”

Bearing in mind that 43% of senior finance leaders said that they don’t see themselves in a leadership role in five years’ time, according to a recent Wade Macdonald survey, Goulding says companies must take the needs of younger generations seriously. “Ensuring that finance organisations have a robust candidate pipeline and are scooping up promising new talent in the industry is crucial for the sector’s future success,” he notes. “Particularly as older generations retire.”

Owen points out that Gen-Z workers are known for their strong sense of ethics – particularly around diversity and inclusion, “so make sure your company’s values are clear and that your employees live and breathe them”. 

The same applies to corporate social responsibility and work styles, Goulding says. “Ensure that flexible working policies are offered fairly. Our recent survey found that only 13% of non-managerial employees have access to flexible working arrangements, compared with 25% at directorate level.”