What Does the Class of 2023 Want From Employers? Mental-Health Benefits, for One Thing

My firm, LaSalle Network, collected data in March from more than 2,500 students on what they’re seeking in an employer and a job—our eighth year conducting the survey. Most striking, 62% of respondents of this year’s graduating class have already accepted a job offer, compared with 20% of 2022 graduates who had accepted an offer around this time last year. Even among this year’s respondents who remain unemployed, 43% said they had received job offers that they turned down. These responses suggest that companies may be extending offers sooner than they have in years past.

As for what the class of 2023 wants in an employer, here is a closer look:

Career development: When asked what their top three priorities were for evaluating a future company, the No. 1 response was career growth. In fact, 54% of respondents expect a promotion in their first year, which can indicate they are ready to jump in, learn and grow in their role. However, one-third of respondents plan to stay at their first job for one year or less, which is up from 3% of the class of 2022. This suggests that if these new hires don’t get what they want, they will be ready to call it quits.

Mental-health support: An interesting distinction from former graduates is this class’s prioritization of mental health and well-being. They ranked benefits as the No. 2 priority when evaluating a company, and when asked what benefits they’re seeking, the top response was coverage for therapy. These young adults want to work for companies that will help them achieve career growth, and simultaneously give priority to their mental health. 

Company culture: The third priority when evaluating a future employer is company culture. There’s nothing new about this. But when asked what their top concerns were entering the workforce, respondents said facing impostor syndrome and feeling a sense of belonging. Companies should take note of this interesting combination and think about how their current culture addresses those two things. Is there a culture of vulnerability and humility? Are leaders authentic? Are they transparent? Creating an environment where employees can be themselves starts at the top. If leaders aren’t authentic and transparent, they can’t expect employees to be.  

That said, there doesn’t have to be one culture across the entire organization. When you have a range of generations and tenures, there are going to be subcultures with a common thread that ties them all together.  

Decreased desire for full-time remote work: I am a big proponent of being in the office because I think it is how employees can best learn and build relationships, and this is especially true for entry-level workers. This graduating class seems to agree. Only 4% said they want to work remotely full-time. The majority—70%—said they want to work a hybrid schedule, with two to three days in-office a week. In fact, among those who have accepted job offers, nearly half accepted positions that are 100% on-site. This class, more than those in recent years, understands the importance and value of being in an office.

Maintain engagement after they accept: Unfortunately, this graduating class also seems inclined to wonder if there is something better out there. One-third of the respondents who have already accepted a job offer said they are still actively applying to other positions. With that in mind, companies should think about maintaining communication with their new hires to ensure their engagement and commitment doesn’t fade from the time they accept an offer to when they begin work. For example, have new recruits meet the team, either in person or virtually. Send them a welcome box with company-branded swag and a handwritten note. And include them on internal communication that shares company updates like new awards, promotions or events. When new hires feel that they are part of the company, they will be more invested and committed.   

Write to Mr. Gimbel at [email protected].

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