Adobe’s Future Workforce Study reveals what Gen Z is looking for in the workplace

Adobe's Future Workforce Study reveals what Gen Z is looking for in the workplace

Generation Z, which represents the majority of undergraduates today and is expected to account for 30 percent of the U.S. workforce by 2030, is entering a job market that is vastly different from those experienced by prior generations. With rising college seniors and recent graduates experiencing unique challenges such as the pandemic and economic turmoil as they prepare to enter the workforce, it's no surprise that the factors influencing their job search are also distinct and present new challenges. Today, we're releasing findings from Adobe's Future Workforce Study, which surveyed over a thousand university students and recent graduates in the U.S. to reveal how the newest employee cohort is feeling about the economy, current labor market, and job search and application process. Here are our findings:

Despite ongoing fears of recession, upcoming and recent grads are cautiously optimistic about the job market and their career prospects.

• While 70% of upcoming and recent grads said that they are worried about the possibility of a recession, 78% said they also feel optimistic about the current labor market.
• 68% of upcoming and recent grads said they feel good or excellent about their financial wellbeing as they enter the job market, but those with substantial college debt are more worried about a recession.
• Upcoming and recent grads are planning to overcome their fears of a recession through discretionary spending, saving for a rainy day or emergencies and not making major purchases for the foreseeable future.

In light of an uncertain macroeconomic environment, new and upcoming grads are more selective about the companies and types of positions they're applying to.

• 67% of survey respondents said that macroeconomic factors have influenced or will influence their choice about industries or companies to pursue in their job search.
• Over half of the respondents (55%) said they will look at a company's financial outlook before they apply to or go through the interview process. Additional considerations include brand reputation (92%), employee reviews and industry awards (89%).
• 85% of upcoming and recent grads say they're less likely to apply for a job if the company does not disclose the salary range in the job posting.
• Working for a large company is more appealing with 52% saying they're likely to pursue a career with an established company. Only 16% said they would pursue a role with a startup or a small-sized company. Top cited reasons include more job security, less affected by the economy and better opportunities for growth.
• Top reasons for turning down a job offer: not offering competitive pay, not providing a good work-life balance or healthy work environment and not offering inclusive benefits and perks.
• In-office experiences are valued, with 75% saying they'd be willing to relocate to be closer to work.

Many recent and upcoming grads see internships as a critical gateway to secure full-time work in the industry of their choosing, and many feel prepared for the job application process.

• 66% said they feel prepared to enter the labor market. The majority (61%) completed an internship in their chosen field while finishing their education, which helped them to feel more prepared (75%) compared to those who did not complete one (53%).
• When it comes to landing a new role, recent and upcoming grads believe that being able to communicate effectively is the most important skill to have, almost double having relevant knowledge/skills for the position they're pursuing.

What makes Adobe a great place to work for interns and recent grads

Adobe has always believed people are our greatest asset. Adobe for All encapsulates our commitment to creating a workplace that reflects the diversity of the world around us, where employees from diverse backgrounds can make an impact.

Making their mark at Adobe

Our industry-leading internship and new grads programs provide students with opportunities to get critical work experience, develop soft and hard skills and bring their creative ideas to life. In fact, in the past year, 62 percent of Adobe Research patent filings had an Adobe intern listed as an inventor. Last year, Adobe welcomed its biggest intern class to date and our internship program was recognized with a Ripplematch Award for having one of the top early career teams and programs in the nation. In addition, Forbes recognized Adobe as being one of the Best Employers for New Grads.

Building a diverse and inclusive talent pipeline

We believe that greater representation leads to a virtuous cycle of more role models, advancement, growth and meaningful innovations for our customers. In 2021, we accepted interns from more than 300 universities globally.

In recent years, we've partnered with Historically Black Colleges and Universities (HBCUs) and Hispanic Serving Institutions (HSIs) to expand the diversity of our talent pipeline through initiatives such as the HBCU Ignite Scholarship, the Student Athlete Micro Internship program and the Cybersecurity Internship Program with Bowie State University. In addition, we launched the Adobe + HBCU 20x20 Fellowship to empower 40 Black college students for tech careers at Adobe. And we continue to ensure inclusivity and fairness in our sourcing, interview and hiring processes.

Enhancing the employee experience

Our expansive rewards including competitive pay, inclusive benefits and wellbeing programs empower our employees to be their best selves at work.

Mental health is a key pillar of Adobe's wellbeing strategy. To support the health and wellbeing of our employees, we provide several resources such as our employee assistance program (EAP), access to several wellbeing apps, wellness-focused reimbursements, and more. And to foster a sense of community with their cohorts, interns and new grads are encouraged to join our many community-building initiatives like our employee networks and interest groups, Adobe for All Summit and volunteer opportunities.

Additionally, we know that many recent grads are entering the workforce with some debt which is why, as part of Adobe's Learning Fund, we provide new university grads in the U.S. with up to $10,000 to put towards their student loan payments. Our Learning Fund can also be used towards education and professional development programs to acquire new skills and grow their career at Adobe.

Methodology

Adobe collaborated with Advanis to collect 1028 responses from U.S. post-secondary students and recent graduates (graduated in 2021 or 2022 or planning to graduate in 2022-2024). Data was collected from an opt-in non-probability sample provider in December.

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