The pandemic may have thrown many plans (including hiring) into a state of flux, but it has also accelerated emerging local and global trends. These rapid changes play right into the hands of the new kids on the block – Generation Z.
Born between 1996 and the early 2000s, the cohorts of Gen Z are beginning to take the workforce by storm. They’ll soon overtake millennials as the most populous generation, bringing a new wave of change to the workplace. To attract Gen Z talent, businesses will need to put purpose before profits.
Unlike other generations, Gen Z are digital natives. They have never known a world without the internet, smartphones or tablets, and consider technology a necessity for everyday life. As a supremely technologically advanced generation, Gen Z can quickly switch between different forms of communication – email to phone to Zoom or face to face.
Access to advanced technology since infancy has increased Gen Z’s global awareness and imbued the generation with a greater sense of social consciousness through exposure to diverse opinions. This is a generation that values independence and is fiercely entrepreneurial, one that wants diverse opportunities and more work-life balance.
Gen Z’s values are at odds with the foundations many organisations were built on
Unlike other generations, Gen Z are digital natives. They have never known a world without the internet, smartphones or tablets, and consider technology a necessity for everyday life. As a supremely technologically advanced generation, Gen Z can quickly switch between different forms of communication – email to phone to Zoom or face to face.
Access to advanced technology since infancy has increased Gen Z’s global awareness and imbued the generation with a greater sense of social consciousness through exposure to diverse opinions. This is a generation that values independence and is fiercely entrepreneurial, one that wants diverse opportunities and more work-life balance.
Importance of purpose
The employers of choice for Gen Z are those driven by sustainability, and social and eco-related values. This generation is more likely to pursue opportunities with employers that take a purpose-led approach. They want diverse voices in leadership, equal pay and fair opportunities for all.
Yet Gen Z’s values are at odds with the foundations many organisations were built on. Where once the goal was to maximise shareholder value by prioritising profits, organisations are now shifting towards purpose as a means of driving resilience and motivation. Those that haven’t made the shift aren’t simply missing out on higher market-share gains and faster growth, they also run the risk of isolating top Gen Z candidates and falling behind in the war for talent.
Gen Z makes up one-fifth of the global workforce and brings a plethora of new skills to the table – skills needed for the ongoing evolution and diversification of global markets. Like the millennials before them, Gen Z employees are searching for job roles that give them a deeper sense of purpose. They are motivated by meaningful work, which is one of the key drivers of employee happiness.
On the checklist
Your first opportunity to make an impression with Gen Z comes online. The first place that a digital native will go to interact with your business is via the internet. An impressive website or impactful social media presence will make the best first impression on potential new talent.
The way you choose to connect with the Gen Z workforce can play a huge part in how successful you are at attraction and retention. Money is important, but other benefits come higher on the Gen Z wishlist.
A robust training and development plan can help address this generation’s hunger for career progression. A survey by LinkedIn showed that 40% of working Gen Zers would stay with an employer long term if they were given opportunities to grow. Organisations can bridge generational gaps and retain legacy knowledge by pairing Gen Z recruits with mentors from older generations. Similarly, older generations may benefit from digital skill-sharing sessions with Gen Z recruits.
Although this is a generation that prefers to work in an office, Gen Zers will still expect the offer of flexible working, much as millennials and Generation X do. Adopting a hybrid working environment as part of the ‘new normal’ can help organisations walk the fine line between flexibility and in-office interactions. Similarly, managerial and leadership approaches should emphasise output and quality rather than amount of time spent in the office or at the desk.
Overall, the needs of Gen Z talent are representative of the future of business. Although hybrid work environments are a product of the pandemic, adopting them for the long term can increase the attraction of your business to Gen Z candidates.
Far from being an inconvenience, adapting to suit Gen Z is simply another step in general business evolution.
Further information
Look out for ACCA’s report about Generation Z, Ground-breakers: Tomorrow’s talent in accountancy, due out in April 2021
Watch this video about attracting Gen Z to your practice
