A LITTLE BIT ABOUT GEN Z
- The youngest Gen Zers are merely 8 while the oldest are 24
- They are quickly becoming the most educated generation in history
- 65% of Gen Zers believe that salary is the most important determinant in taking career decisions. More than 50% of them are willing to work night shifts and weekends to earn more
- They are referred to as the job hoppers by the industry
Research finds that Gen Z employees have a median job tenure that’s two-thirds shorter than older generations. These professionals tend to know their worth and switch fields without skipping a beat. According to the Bureau of Labor Statistics (US), the median tenure of workers aged 55 to 64 is 10.1 years, while the median tenure of workers ages 25 to 34 is 2.8 years.
HOW ARE GEN Zers DIFFERENT FROM MILLENIALS?
Millennials | Gen Z |
---|---|
Prefer collaborative working environments and seating arrangements. | Prefer personal working spaces |
Optimistic due to encouraging Boomer parents who grew up in a time of opportunity and prosperity | Realistic due to growing up during a recession with skeptical parents. |
Digital pioneers, witnessed the rise of social media, internet, and instant messaging. | Born into the digital age and are 24/7 connectivity. |
Notorious job hoppers and have little patience for stagnation in their careers. | Interested in role hopping and learning different tasks or taking on projects outside of their designated job role. |
Concerned with progress | Concerned with innovation, flexibility, variety in role, education |
GEN Z MUST HAVES
- Health insurance
- Competitive salaries
- A boss they like and respect
- Professional development
- Maternity and paternity leaves
- Flexibility to switch role
- Work-life balance (Over 40% of the iGen consider it to be a top priority)
- Human rights, diversity, ethical alignment with the values of the employer
- Flexibility of work hours and location
- Culture of the organisation
HOW DOES GEN Z APPROACH THE INDUSTRY?
HOW WILL THE WORKPLACE CHANGE?
WHAT CAN THE HR FRATERNITY COPE?
- Since Gen Z is known for job hopping, always keep a talent community in the pipeline and be ready to recruit on short notice.
- Shorten the application and on-boarding process (More than 60% of Gen Zers say the ideal job application is one that takes less than 15 minutes to complete).
- Make communications more personalised, direct and precise.
- Come up with innovative employee engagement and retention strategies.
- Create clear career progression routes for employees and communicate it from time to time.
- Broaden and deepen the performance feedback systems.
- Give more monetary than materialistic perks
- Offer more flexibility in every aspect of the job
- Provide genuine mental health support
- Embrace social media and understand the need of a work-life balance
While all this may sound overwhelming, it’s not in fact that difficult to manage the Gen Z. As long as the employer treats the prospective candidates and employees with respect, it is easy flowing. Yes, with shorter attention spans, companies need to enhance their communication techniques, but that is anyway needed for consumers. If anything, Gen Z is training corporates for the challenges of a dynamic consumer market.