If your company has been feeling a sense of comfortability in regard to the people employed, it’s time to prepare for a shake up in the workplace.
Generation Z, also known as Gen Z, are expected to make up 30% of the workforce by 2030, and they are coming in with their own set of standards.
In fact, these intense standards have been named the “Great Expectations”.
Those in leadership positions have a decision here: to stay comfortable or be open to changes. We must warn you though, those who aren’t looking to change can expect to face a difficult road down the line when it comes to recruiting and retaining employees – in addition to relating to your growing consumers.
Who is Gen Z?
Gen Z includes those who were born between 1997 and 2015, they are the youngest generation and the most racially diverse. Generation Z are facing a very unique and volatile time period as they try to choose and further launch their careers. The pandemic and political landscape are significant factors in this.
This generation has also been studying politics, history, and the world’s economy in recent years, and their opinions have molded their career trajectory.
Simply put, they are more realistic about finances and more focused on education reimbursement than previous generations. Because they recognize that financial stability is never guaranteed in our lifetimes, they also think more about retirement.
What Attracts Gen Z workers?
Generation Z has grown up during the digital age and are therefore extremely eager to work with technology. Companies who are thinking towards this future employee landscape should invest in advanced technology.
Diversity, Equity and Inclusion (DEI)
As we mentioned above, Gen Z is the most diverse group up to this point, and these individuals are relying on their inner values throughout their job search. Generation Z is seeking employers who match their values and also strive to stand up for diversity, equity and inclusion.
Benefits for Financial Stability
In a time of extreme economic uncertainty and having witnessed the majority of the Millennial Generation, Gen Z is concerned about their likelihood to afford their futures, Gen Z is concerned about being able to afford the future.
Therefore, companies that provide tuition reimbursement and retirement plans have an edge over their competitors.
What Gen Z Expects from their Employers
To Forget “Ghosting”
The Great Resignation has prompted employers across the county to reconsider their traditional hiring practices. Throughout the hiring process, it’s imperative that recruiters and hiring managers be transparent and communicate often.
Throughout the process, recruiters and hiring managers should be transparent and communicate often. Ghosting Gen Z is not an option. They want to know what’s happening at every stage of the application and hiring process.
It’s hard not to notice just how far our workplaces have come in such a short amount of time. In most industries, you’re no longer required to work endless hours, and there are health and safety policies in place to keep us safe.
However, we still have a long way to go, and Gen Z and millennial employees are leading the charge. With hard work and policy changes, they are fighting for the following changes in our modern-day workplaces:
(Find more info on hiring practices here: Why Hiring Managers Should Look Beyond the Traditional Resume)
Provide Equal Opportunities
We dove into the topic of diversity, equity and inclusion throughout this week, and we hope leaders took this matter seriously It should not come as a surprise when Gen Z and millennial employees enter your workplace and emphasize equal opportunities for all.
The latest generation of workers don’t want to see people missing out on career opportunities based on their background, gender or the color of their skin.
Allow Working Flexibility
The nine-to-five grind isn’t for everyone, and millennial and Gen Z employees want more work-life balance than prior generations.
One way business owners can achieve this – offer more flexibility with their work arrangements.
Fortunately, many businesses are answering the call to action with remote employment opportunities. More and more employees are able to work the hours they’re most productive and choose to work from the home or the office. Such flexibility may just lead to higher retention rates and increased staff happiness.
We shouldn’t need to mention the direct correlation between engaged employees and business productivity. Workers are now demanding fulfilling work and recognition.
Some employers may see this as a significant undertaking and one they can’t afford. However, with a few adjustments to culture and the working environment, it is entirely possible.
In fact, this can be as simple as encouraging communication, recognizing hard work and allowing your employees to have a voice.
Younger generations are paying more attention to our people and are basing their decisions on the health of our planet. Millennials and Generation Z are not afraid to speak out against unethical practices or leave their employers that do it.
Some studies have shown that the average income of millennials is 20% lower than the baby boomers’ generation’s salary when they were the same age. Because housing and everyday essentials are becoming more and more unaffordable, low incomes are not sustainable – or tolerated by Gen Z.
Don’t worry, we’re not saying it’s necessary to start making dramatic changes or to integrate these standards overnight. Chances are that your company and current employees aren’t ready for the impact.
Instead, we encourage you to take it slow and start with a few minor adjustments. Whichever initiatives you choose to tackle, our MCDA CCG team can strategically help you by making sure you don’t break the bank.
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