With Generation Z (those born from the mid-’90s to the ’00s) starting to enter the workforce, employers are starting to pay attention to how this generation differs from the ones before it. While much of the focus of recent years has been on wooing the Millennial generation, that cohort is now primed for moving up as this new group joins their ranks.
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Here are some things to bear in mind for the coming years as more and more of the workforce includes Gen Z:
- They’re technologically savvy. They grew up with technology and may expect that an organization will have the latest tech options as appropriate for the industry. This starts with the application process. Is your job posting and application process available online? On mobile devices? Is the process seamless? Not only does this group use the latest software and apps, they’re also using all of the latest mobile devices.
- Social media matters. This generation also grew up with social media as a cornerstone of interpersonal interaction. This means they are likely to assume that an organization will be active and engaged on multiple social media outlets—at least if that organization wants to be seen as “current.” This could also mean that employers need to be aware of how their social media use policies are perceived, since these tools take a high level of importance for this generation. Employers could consider incorporating social media options into team collaborative tools.
- Financial awareness influences decisions. Unlike some previous groups, Generation Z started to come of age during the recovery from one of the biggest recessions in recent memory. This ultimately shaped their outlook on job security and the importance of a stable income and sound financial decisions. Witnessing the effects of the recession at an impressionable age lends itself to a general feeling of financial instability, which will color perspective on job offers. It also means they’ll be attuned to the potential for future growth, as this ties directly with stability. Yet another aspect to consider on this topic is that Gen Z employees are likely to fully understand the importance of having a high enough salary to cover their needs, including student debt (more on that in a moment).
- There’s no assumption of a long-term stay at one job. As a counterpoint to the point above, it should also be noted that this generation typically does not have an expectation that they will stay with one organization for a lifetime. This expectation has been on the way out for a few generations now, and it’s become the norm to assume that a job may only be held for a few years—especially when first starting a career. Gen Z employees want to see the option of stability, but will be less likely to hesitate to leave if there are opportunities elsewhere. For employers, this means finding ways to keep these employees onboard, such as formal employee development programs and more training opportunities, for example. Be sure to set—and communicate—expectations to avoid misunderstandings. It will also be important for employers to outline clear pathways for advancement if they hope to keep new talent in-house longer.
- Student loan debt repayment is a high priority. While Gen Z is certainly not the only generation to deal with debt loads that affect salary requirements, the student debt burden is higher than it was in decades past. This may mean they’re more likely to value benefits that can reduce their debts, like student loan repayment assistance, financial assistance for continuing education, or even financial assistance courses.
We’ve got even more tips for employers on recruiting and retaining Gen Z. Tomorrow we’ll continue this list.