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Understanding Gen Z
Amid the tight labour market, it’s critical for employers to review their attraction and retention strategies to attract the very best talent, including includes Generation Z (Gen Z) employees. Gen Z refers to the generation born between the late 1990s and early 2010s; employees from this age group now make up an estimated 20% of the workforce. Today, these employees—many of whom have observed older workers suffering from burnout—demand greater flexibility and purpose from their work. They also want to make a difference. In fact, 1 in 10 workers between ages 18 and 24 chose to leave a previous job role over their employers’ inaction regarding sustainability, according to research by employee benefits company Amba.
This article explores the characteristics of Gen Z and discusses how employers like you can attract and retain this demographic of employees.
Characteristics of Gen Z
Gen Z grew up during the recession, so this group is thought to be more career-orientated than millennials. These members grew up hearing about the struggles of millennials, and they are trying to avoid making the same mistakes. They are more realistic and resourceful and desire more control over their careers. In addition, the following are more characteristics of Gen Z:
• Gen Z members aspire to be entrepreneurs. According to a study from employer branding agency Universum, 55% of Gen Zers are interested in starting their own companies. Like the millennials before them, Gen Z shuns the traditional 9-to-5 office jobs and dreams of self-employment. Gen Z grew up witnessing the success of innovative startups like Facebook and Uber as well as crowdsourcing. They have ambitious goals of developing startups and being their own bosses.
• Gen Z tends to gravitate toward more visual content. This group likes to communicate using emojis and emoticons and prefers livestreaming media like Twitch and Ustream. According to a study by software company Marketo, 52% of Gen Z members use YouTube or other social media sites for research.
• Gen Z values sustainability. According to a report by software company Kantar, Gen Z are 1.4 times more likely to pay a premium for eco-friendly products. Furthermore, 45% of Gen Z prioritise sustainability over price when selecting products, according to a recent YouGov survey. These ideals transfer into the workplace, as Gen Zers also want their employers to care about the environment.
• Gen Z is tech savvy. Gen Z is even more tech savvy than previous generations, so its important to connect with these individuals on multiple social media platforms. In addition they prefer to complete tasks such as work, applications and L&D online.
Gen Z in the Workplace
To attract the very best talent from this generation, it’s prudent to scrutinise ways to accommodate these employees’ ideals and create Gen Z-friendly workplaces. Consider the following strategies:
• Be genuine. Speaking openly about corporate accountability and other matters, particularly when recruiting, is essential to support Gen Z workers’ desire for positive change. Be transparent about company goals, plans and decisions so candidates can make informed decisions on whether their values match your own
• Be flexible. According to a Kronos Work Institute study, 1 in 4 Gen Z employees would work harder and stay longer at a company with flexible schedules. As such, offer remote options, flexible scheduling and the ability to work on the go wherever possible.
• Embrace technology. Gen Zers are digital natives who have grown up around technology. Consequently, they may expect the latest tools to conduct their duties. Consider available technology solutions for workload management, including cloud-based software, project management tools and mobile apps. Additionally, Gen Z’s attraction to social media for research purposes highlights the importance of fine-tuning your social media efforts. Further, make sure your company’s website and hiring process (e.g., job posts and application) are mobile-friendly and develop innovative recruitment videos that can be easily shared on sites like YouTube to attract new talent.
• Offer learning opportunities. Aspirational and eager to learn, many Gen Z workers value career growth opportunities. Weigh the benefits of mentoring programmes and consider ways to engage these workers in learning initiatives. For instance, Gen Z employees may favour on-demand digital learning over rigid training courses.
• Remember the basics. According to Kronos Incorporated, 30% of 16- to 25-year-olds favour comprehensive employee benefits, such as paid sick leave, competitive wages and generous holiday allowances. In contrast, only 11% prioritise in-office perks such as free snacks and gym access. Therefore, it’s wise to remember the basics offering employee benefits. Better still, consult employees to ask which benefits they would prefer.
There are many ways to consider adapting your workplace to Gen Z’s needs. Continue to have open conversations about workplace standards to help find the environment that works best for all employees.
Summary
Given the tight labour market, it’s critical for employers to assess their current attraction and retention strategies, specific to Gen Z. To do this, it’s important to both understand Gen Z and know how to best provide them a supportive work environment.
For additional talent attraction and retention resources, contact us today.
