So before we even start considering the expectations of GenZ, let’s identify the different generations, sounds good? Here we go:
At present, the four generations in the workplace include:
Baby Boomers – born 1947 to1964.
Generation X – born 1965 to 1980.
Millennials – born 1981 to 2000.
Generation Z – born 2001 to 2020.
Now that we have a better understanding of who’s who and from what time frame, let's dive straight in.
For starters, Generation Z expresses enormous concerns about their long-term financial health. This is sadly a byproduct of having experienced and witnessed multiple economic crisis early in their life. A Deloitte survey revealed that 50% of people in this group foresee their financial situation worsening or becoming unproductive in the next year. The majority are actively budgeting and taking measures to educate themselves on financial best practices in an effort to make informed decisions as well as set financial goals for the long term future. This idea that they’re sitting around drinking Chai tea lattes in a trendy café is not very fair or accurate.
One of the expectations Gen Z has from potential employers are benefit offerings around retirement savings, healthcare cost planning and money management coaching. Gen Z will highly value companies that can help them develop a sense of security around their long-term financial futures.
Get Digital – Attracting & Engaging Gen Z
The digital-native nature of Gen Z means they're already accustomed to rapidly and constantly changing environments and stimulators, so employers will need to maintain a focus on their core values to keep these new workers inspired.
One way to bring these contrasting motivators together is through regular check-ins between managers and employees and by maintaining Gen Z invigorated and engaged throughout the year – this will be key to employers' success.
One of the key elements around Gen Z's potential to change the way work is accomplished is in their comfort and immersion in mobile technologies. This facilitates constant communication and innovation. Gen Z believes that technology allows them to be more productive and nomadic. Most see smartphones as essential and rely on laptops more than all the other working generations, respectively. These tools enable Gen Z to be "always on" while determining their own schedules, creating tailor-made paths to their personal version of success.
Focus On Employer Branding
Employers need to define and communicate who they are, what their purpose is and what makes them unique. It is crucial that these qualities are accurately and consistently communicated across social media channels, employer review sites and other platforms - Gen Z is paying attention!.
In order to successfully attract and engage Gen Z throughout their candidacy will be largely based on a strong employer brand that is consistent across technologies. What this means is that organizational brands will need to be transparent, personable, adaptable and very importantly: Memorable!
For more information on Gen Z and how employers can successfully attract and engage this new generation of talent, download a full report here and this recorded BrightTALK session on War on talent: What matters today to attract young talent.
Gen Z is motivated by a number of factors but the one thing that stands out is: They'll do whatever it takes to reach their goals! Entrepreneurship is a major priority with a majority of these individuals seeing themselves as driving their own professional advancement. Above all, Gen Z looks for an employer who cares about their wellbeing. The year 2020 brought employee wellbeing into the foreground. If the people in your organisation aren't healthy both physically and emotionally-your organization isn't healthy either.
Productivity & Wellbeing Director
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