Just as we have used to Millennials, Generation Z is entering the workforce. Are you ready for them? Generation Z is quite different than previous generations. Take a look what you can do to attract them and keep them loyal. Prepare on time!
Who belong to Generation Z
Generation Z is those born after 1995. They are still in school or just entering the workforce. Their greatest concern is whether they will find a job. Yet, they are still optimistic and believe that the job they find will be their dream job. Although they are ready to start to work, they mostly do not believe that they have acquired sufficient skills and knowledge for real work with their education. They mainly search jobs online but also rely on personal connections.
Generation Z versus Millennials
Gen Zers are quite different from Millennials. While Millennials primarily seek a job with the purpose, Generation Z wants financial security, but also flexibility and mobility. Oppositely to Millennials who primarily seek personal development opportunities, Generation Z seeks job satisfaction. However, they also want different development opportunities through transparent training and mentoring with fast feedback that will ensure them quick development. However, while Millennials have a collaborative mentality, Generation Z is competitive and wants to be evaluated individually. On the other hand, since Generation Z grow up in recession, contrarily to non-loyal Millennials, they want a secure job, which they plan to keep for at least 3-5 years.
How to attract and retain Generation Z
Diversity and complexity of today’s environment have caused many changes in the businesses. One of them is the shift from relatively routine work to less routine and more cognitive work. In line with that, companies seek educated and skilled workers. In addition, new emerging technologies pose new challenges to the workforce. This change, however, mostly has affected the entry-level jobs or Generation Z. Because of automation of business processes, companies need staff for advanced, mostly knowledge-based jobs, where is needed critical thinking, for which Generation Z still is not ready. On the other hand, generation Z grew up with constant connectivity and they are mostly tech-savvy. However, they often lack interpersonal skills, which causes other problems, since social skills are among the most important skills in today’s service-based economy. In line with that, Generation Z needs to develop various skills, while companies need to redefine their HR policies in line with the features of the new workforce.
Since Generation Z prefer mobility and flexibility, you need to provide them rotation or job enriching programs and other opportunities to make their jobs dynamic and efficient. They also want to use new digital solutions and advance rapidly. There is also cooperation within new eco-systems that can provide more interesting and challenging jobs for Generation Z. Also, a job security is their primary goal, so they expect to get different development opportunities. However, ensure fast feedback if you want to motivate them. You also need to create an open and transparent culture and give them various personal benefits, such as paid time off, wellness programs, family leave or similar. Keep in mind that Generation Z expects to get these benefits, while Millennials consider them as a reward.
Evidently, the new workforce, Generation Z, significantly differ from the currently dominant workforce Millennials. Although they are just entering the workforce, you need to prepare on time. You will not have an easy job to attract them and retain them since they have developed entrepreneurial spirit which makes them ready to rather open their own companies than to accept any conditions that you are offering to them. Keep that in mind. If you give them what they want, and that is the security, mobility, and flexibility, you will motivate Generation Z, while you will get a flexible and diversified workforce.