NerdWallet UK (www.nerdwallet.com/uk/), a platform that provides financial guidance to consumers and small and mid-sized businesses (SMBs), found in a recent survey that in order for UK businesses to remain attractive to Gen Z talent, it’s imperative that employers stay up to date with career advice given on social media. According to the study, two-thirds (64%) of 18- to 24-year-old Brits trust online career influencers who shape their professional aspirations.
Yet despite the 3.9 billion collective views for TikTok videos tagged with #careeradvice, almost one in four (24%) Brits aged 35 and over are still sceptical about using social media for career advice.
Key Findings:
Close to two-thirds (64%) of 18- to 24-year-olds trust career advice on social media, dropping to 50% for those aged 25 to 34.Over two-fifths (41%) of 18 to 34-year-olds believe the idea of a real-life career mentor is outdated.Close to two-fifths (37%) of Brits state they trust career advice on social media, but over two-fifths (42%) do not.Almost a third of Brits (30%) turn to family and friends, job search websites (27%), industry professionals (24%) and colleagues (23%) for career advice.
Generation Gap: Gen Z and Millennials Embrace Career Advice on Social Media
Level of trust in social media for career advice Overall percentage of BritsPercentage of Brits by Age Group18 to 2425 to 3435 to 4445 to 5455 to 6465 and overI would trust it a lot5% 12% ↑7% ↑6% 2% ↓2% ↓6% I would somewhat trust it32% 52% ↑43% ↑34% 26% ↓21% ↓22% ↓I wouldn’t trust it very much28% 18% ↓27% 33% ↑32% 24% 24% I wouldn’t trust it at all14% 4% ↓6% ↓13% 16% 22% ↑28% ↑
The study found that 37% of Brits say they trust career advice found on social media, however two-fifths (42%) do not.
Connor Campbell, NerdWallet UK’s business finance expert comments, “Based on these trends, one can only imagine these numbers will grow as younger generations enter the workforce. Not every viral career advice TikTok video will be worth watching – going viral is often about the boldest take, not the best. However, businesses may want to consider taking a look at this content themselves. Key decision-makers should always be open to new approaches, whether that’s in an interview or as someone progresses through their career.”
Career Knowledge Gaps: Brits Prioritise Improving Interview Skills and CV Advice
RankTypes of career advice tips on social mediaPercentage of Brits1Interview preparation tips38%2Advice about improving my CV37%3Networking opportunities35%4Guidance on job search strategies28%5Work-life balance guidance27%6Industry-specific advice27%7Advice on career progression26%8Career transition guidance23%
There’s a huge wealth of information on social media when it comes to career advice, and Brits are taking full advantage of these resources.
When it comes to the types of career advice Brits use social media for: interview preparation (38%), CV advice (37%) and networking opportunities (35%) rank in the top three. Work-life balance advice also ranks in the top five with over a quarter (27%) of Brits actively searching for advice around this topic.
Family and Friends are the Most Influential Career Advice Sources to Brits
RankType of career advice sourcesPercentage of Brits1Family and friends30% 2Job search websites (e.g. Indeed, Glassdoor, or LinkedIn)27% 3Industry professionals24% 4Colleagues23% 5Online platforms (e.g. websites, forums)16% 6Career coaches or counsellors10% 7Career fairs10% 8Industry events and conferences9% 9Social media8% 10Guidance counsellors or professors at educational institutions8%
Brits seeking to advance their career want a mixture of personal advice from people they trust, such as family, friends and colleagues, alongside ‘expert’ guidance from industry and career specialists.
The study revealed the most trusted sources for career advice come from family and friends (30%), job search websites (27%), industry professionals (24%) and colleagues (23%).
Attracting and Retaining Young Talent in 2023: Three Top Tips from a Business Finance Expert
Connor Campbell, business finance expert at NerdWallet UK provides his top three tips for business owners:
Make sure your HR teams are actively engaged with how and where employees are seeking career advice: Given how high the cost of hiring someone in the UK can be – and it can run into tens of thousands of pounds – if you’re involved in hiring staff, it makes sense to be actively engaged with how and where people seek career advice. Not only because it may help you select the best candidate at the interview stage, but because it may keep ambitious, high-performing employees at your company.Create internal processes for career advice and guidance: This is an excellent way of signalling to your employees that you are interested in their personal development, and not just for what they can add to your bottom line. This can result in more well-rounded and engaged employees, while also potentially ensuring people stick around for longer – which can save you money on hiring, training and lost productivity costs. Employees still appreciate in-person advice: Hashtags with billions of views perhaps give a false impression of what people want when it comes to career advice. If you scratch beneath the surface it seems that people still appreciate in-person advice from sources they trust. With that in mind, there is probably more all businesses could do to meet this appetite for advice and mentorship.
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