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Companies are firing Gen Z workers soon after hiring them. What’s behind their job market struggles?

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Generation Z is beginning to enter a workforce that isn’t fully prepared for them.

As many recent graduates face complaints about how they fit into the workplace, employers report increasing hesitancy in hiring them, according to a recent report by the education and career advisory platform, Intelligent.

The report, which was based on a survey of nearly 1,000 hiring managers, found that one in six employers were reluctant to hire Gen Z workers mainly due to their reputation for being entitled and easily offended.

Moreover, more than half said that this generation, which refers to people born between 1997 and the early 2010s, lacks a strong work ethic, struggles with communication, doesn’t handle feedback well, and is generally unprepared for the demands of the workforce.

Holly Schroth, senior lecturer at the Haas School of Business at the University of California, Berkeley, explained that Gen Z’s focus on extracurricular activities to boost their college competitiveness rather than gaining job experience has led to “unrealistic expectations” about the workplace and how to deal with their bosses.

“They [Gen Z] don’t know basic skills for social interaction with customers, clients, and co-workers, nor workplace etiquette,” Schroth told Euronews Next in an email.

She added: “As a result, it is up to the company to properly onboard the new employee and give ample training. In addition, the boss needs to act as a coach as well as a manager”.

Why are so many companies firing Gen Z employees?

Around six in ten companies included in the survey reported firing a recent university graduate they hired this year.

Some of the cited reasons behind these decisions included a lack of motivation from the employees, lack of professionalism, and poor communication skills, among others.

“Many recent college graduates may struggle with entering the workforce for the first time as it can be a huge contrast from what they are used to throughout their education journey. They are often unprepared for a less structured environment, workplace cultural dynamics, and the expectation of autonomous work,” Huy Nguyen, Intelligent’s chief education and career development advisor, said in a statement.

“Although they may have some theoretical knowledge from college, they often lack the practical, real-world experience and soft skills required to succeed in the work environment,” he added.

The hiring managers surveyed also reported that some of their Gen Z workers struggled to manage their workload, were frequently late, and did not dress or speak appropriately.

A separate report from April found that Generation Z workers were overly reliant on parental support during their job search.

According to the survey that was conducted by ResumeTemplates and which included responses from nearly 1,500 young job seekers, 70 per cent admitted to asking their parents for help in the job search process.

Another 25 per cent even brought their parents to interviews, while many others had their parents submit job applications and write resumes for them.

How to get a job as a recent graduate?

To improve their chances of being hired, employers emphasised that some of the top qualities they are looking for include initiative and a positive attitude.

Managers also placed value on real-world experience, either through internships or jobs and, to a lesser degree, on having an appropriate social media presence, and avoiding political discussions.

“Recent graduates starting their first job should demonstrate professionalism, not by conforming to outdated norms, but by being respectful and committed to their work,” Nguyen said.

Schroth added that although employers are currently hesitant to hire Gen Z due to a higher rate of dismissals and challenges integrating them into the workforce, they still make up over 25 per cent of the workforce.

“As a result, companies need to spend more money and time on training and their Gen Zs will thrive,” she concluded.

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Prices to fall as NNPC plans 12 more filling stations to sell N230 fuel.

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Prices to fall as NNPC plans 12 more filling stations to sell N230 fuel.
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NNPC (Nigerian National Petroleum Corporation) is planning to open 12 more filling stations to sell fuel at a lower price of N230 per liter. This move is expected to increase competition in the market and potentially lead to a decrease in fuel prices.

Ekwutosblog gathered that with these  more filling stations selling fuel at a lower price, consumers may benefit from:

1. Increased competition: More filling stations selling fuel at a lower price can encourage other marketers to reduce their prices.
2. Lower fuel prices: As more fuel is available at a lower price, the overall market price may decrease.
3. Improved accessibility: More filling stations can make fuel more accessible to consumers, especially in areas with limited options.

However, it’s essential to consider the following factors:

1. Sustainability: Will NNPC be able to maintain the lower price point, or is this a temporary measure?
2. Market dynamics: How will other marketers respond to NNPC’s move, and will they also reduce their prices?
3. Supply and demand: Will the increased supply of fuel at a lower price lead to increased demand, and how will this affect the market?

Keep an eye on the developments and see how the market responds to NNPC’s plans!

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Bitcoin soars past US$81,000 as Trump’s pro-crypto stance fuels buying spree

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Bitcoin reached a record high on Monday. Photo: Reuters
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The token climbed to an unprecedented US$81,497 early in the Asian day on Monday

Bitcoin rallied past US$81,000 for the first time, boosted by President-elect Donald Trump’s embrace of digital assets and the prospect of a Congress featuring pro-crypto lawmakers.

Trump’s decisive victory in the presidential election has prompted celebratory chest-thumping from the digital-asset industry, which spent over US$100 million backing a range of crypto-friendly candidates.

The largest token climbed as much as 6.1 per cent on Sunday, before extending the gain to an unprecedented US$81,497 early in the Asian day on Monday. Bullish sentiment lifted smaller coins too, including a surge in Dogecoin, a meme-crowd favourite promoted by Trump supporter Elon Musk.

Do you have questions about the biggest topics and trends from around the world? Get the answers with SCMP Knowledge, our new platform of curated content with explainers, FAQs, analyses and infographics brought to you by our award-winning team.

“With the dust from Trump’s victory still settling down, it was only a matter of time before a run-up of some sort occurred given the perception of Trump being pro-crypto, and that’s what we’re seeing now,” said Le Shi, Hong Kong managing director at market-making firm Auros.

Trump vowed on the campaign trail to put the US at the centre of the digital-asset industry, including creating a strategic bitcoin stockpile and appointing regulators enamoured with digital assets. Jubilant traders for the moment are paying little heed to questions such as the speed of likely implementation or whether a strategic stockpile is a realistic possibility.

His broader agenda of stoking domestic economic growth, tax cuts and reducing red tape has fuelled a buying spree across stocks, credit and crypto. The S&P 500 stock index last week hit its 50th record this year.

Bitcoin has added about 92 per cent so far in 2024, helped by robust demand for dedicated US exchange-traded funds (ETFs) and interest-rate cuts by the Federal Reserve. The rise in the token, which scaled fresh records after Tuesday’s US vote, exceeds the returns from investments such as stocks and gold.

The ETFs, powered by BlackRock’s $35 billion iShares Bitcoin Trust, posted a record daily net inflow of almost US$1.4 billion on Thursday, according to data compiled by Bloomberg. A day earlier, the iShares ETF’s trading volume jumped to an all-time peak – all signs of how Trump’s victory is reshaping crypto.

Trump’s stance contrasts with a crackdown on digital assets under President Joe Biden. Securities & Exchange Commission Chairman Gary Genslerrepeatedly labelled the sector as rife with fraud and misconduct. The agency turned the screws on crypto following a 2022 market rout and a litany of collapses, notably the bankruptcy of Sam Bankman-Fried’s fraudulent FTX exchange.

Digital-asset companies spent heavily during the election campaign to boost candidates viewed as favourable to their interests. Against that backdrop, Trump did an about-face, becoming a supporter of an industry he once labelled a scam.

“Trump has promised supportive regulation, and the sweep of the House and the Senate makes the passage of crypto bills much more likely,” wrote Noelle Acheson, author of the Crypto Is Macro Now newsletter.

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Philippine hotel named world’s largest chicken-shaped building by Guinness World Records

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A 15-room hotel at the Campuestohan Highland Resort in the Philippines was named the largest building in the shape of a chicken by Guinness World Records. Photo courtesy of Guinness World Records
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Philippine hotel named world’s largest chicken-shaped building by Guinness World Records

A hotel in the Philippines has been recognized by Guinness World Records as the largest chicken-shaped building in the world.

The hotel measures 12 meters in width, 28 meters in length, and stands 35 meters tall, approximately the height of a 13-story building, with each floor around 2.6 meters high, according to the Guinness World Records website.

Designed by businessman Ricardo “Cano” Gwapo Tan, the chicken-shaped building is part of Campuestohan Highland Resort, a popular tourist destination in the Philippines.

The hotel features 15 air-conditioned rooms equipped with televisions and large beds, suitable for families or groups. Additionally, it boasts a viewing deck that offers visitors a bird’s-eye view of the surrounding area, as reported by Philstar.

Room rates start at 4,500 pesos (US$77) per night.

When asked about the rooster-inspired design, Tan explained that it reflects the gamefowl industry in Negros Occidental. He added that the “calm and commanding, imposing and strong” figure of the rooster represents the local spirit, according to Guinness World Records.

Construction of the hotel began on June 10, 2023, and completed on Sept. 8 this year despite challenges of frequent storms in the area.

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