The incoming workforce, the Class of 2025, is poised to significantly impact Hawaii's business landscape. While they're known for challenging traditional workplace norms, compensation continues to be the primary driver in their job searches. This presents both challenges and opportunities for Hawaii businesses, especially startups striving to attract and retain top talent in a competitive market.
The Pacific Business News recently reported on the priorities of this generation, highlighting their focus on salary expectations. This trend is particularly relevant in Hawaii, where the cost of living is high, and graduates may need higher salaries to meet basic needs. Businesses need to assess their current compensation packages to stay competitive and attract the best candidates. Startups, in particular, will need to get creative with their benefits packages if they can't match larger company's salaries.
The focus on compensation also influences the type of businesses that will thrive. Those offering competitive salaries, coupled with benefits and opportunities for growth, are likely to attract the best talent. Moreover, businesses that can leverage technology to streamline operations and reduce costs may be able to afford higher wages, enhancing their appeal to new graduates. Businesses exploring the use of AI to get the most for their dollar will likely also attract this group, as the article states. To understand current salary trends, businesses can find more information on Glassdoor and other salary tracking websites.
Beyond salary, the Class of 2025 values work-life balance and opportunities for professional development. Businesses that offer flexible work arrangements, remote work options, and robust training programs are more likely to attract this demographic. In order to retain employees, companies should look for ways to make employees feel valued.
