The Gen Z is changing the workplace more than ever before with demands and expectations. Being born between 1997 and 2012, the first representatives of this generation are already in their prime career years, and their perspectives are changing the traditional employment models. The way they work is radically different to that of the past generations and employers have to rethink everything, including compensation packages and company culture.
In this post, we will look at what Gen Z truly wants employers to do, how their priorities differ and overlap with those of millennials and Gen X, and how businesses are using innovation to draw in and keep this talented workforce. Be it as an employer who needs to learn more about this generation or a job seeker who needs to learn more about the current market trends, this guide should provide you with useful information about the ever-changing world of work.
Understanding Gen Z’s Core Values
Financial Security Takes Center Stage
The Gen Z has experienced the financial crisis of 2008 as a young generation and has suffered the financial insecurity of COVID-19 pandemic. This is what made them realistic about money and job security. Gen Zs are more focused on financial stability in their career choices as compared to millennials who mostly focused on passion projects and startup culture.
This generation is keen on finding employers that will provide competitive starting wages, benefits packages and career progression to financial prosperity. They are more open to negotiate prior to taking a job on salary and do research on the compensation policies of businesses prior to accepting an offer.
Flexibility Beyond Remote Work
Although remote work is not going away, the meaning of flexibility to Gen Z goes well beyond location independence. They want to be able to work in a flexible schedule that suits them, their personal life, mental health needs, and other side projects they might have. This entails four-day work week options, flexible start times and the capacity to work around life events.
Most Gen Z employees also have several side income sources such as freelance and content creation. They want employers who appreciate and comprehend such entrepreneurial activities instead of looking at them as distractions.
Authentic Purpose and Impact
Gen Z is interested in knowing the difference they are making by their contribution. They desire to know their place in the larger scheme of things and have some physical results of their contribution. This generation is particularly drawn to the firms with a high degree of environmental, social, and governance (ESG) commitments.
They are quick however to criticize performative activism or purpose-washing. The Gen Z generation also wants employers to support their values by taking some actions and measurable outcomes.
Technology and Learning Expectations
Digital-First Work Environment
Gen Z has been raised on smartphones and social media and is used to smooth digital experiences in the workplace. They are irritated with out-dated programs, complicated approval processes and ineffective communication systems. Companies investing in new technology and efficient processes have great opportunities of getting the Gen Z talent.
The generation also requires their employer to use technology to be productive and collaborative. They are fond of online communication, project management systems and automated systems that do not require redundant bureaucracy.
Continuous Learning and Skill Development
Gen Z is aware that the workplace is changing rapidly and they require employers who will help them grow their careers. They want firms that provide frequent training, mentorship schemes and encouragement of external learning projects.
This generation especially appreciates cross-functional learning experiences that will enable them to acquire a variety of skills. They want to know more about various parts of the business and develop skills which will help them in the long run in their careers.
Career Progression and Recognition
Clear Advancement Pathways
Gen Z demands to know about career development at the first day. They want to know more about the possible career options, the skills they need to get ahead and the time frame within which they can be promoted. Gen Z employees will tend to remain in an organization that has a proper development path laid out and regular updates on progress.
This generation also values non-traditional growth opportunities through lateral moves into new departments or project based leadership opportunities which can allow them to gain a range of experience.
Regular Feedback and Recognition
Gen Z loves to be recognized and often. They like constant discussions on their performance as opposed to waiting a year to get reviews. This generation is sensitive to constructive criticism that comes in specific form that will enable them to become better and develop professionally.
They also like to be publicly acknowledged (team meetings, company newsletters or social media acknowledgment of their achievement). This goes in tandem with the fact that they feel comfortable in the virtual world and must be sincerely valued.
How Employers Are Successfully Adapting
Revamping Compensation and Benefits
Proactive employers are redesigning their compensation package to ensure that it is Gen Z friendly. This involves the provision of competitive starting salaries, performance based bonuses and excellent benefits that can meet the needs of this generation.
Student loan repayment, mental health resources, and flexible spending accounts on wellness activities are some of the many companies that offer these services now. Other employers offer financial planning and investment advice to Gen Z so that they can amass wealth in the long term.
Creating Flexible Work Policies
Employers are shifting towards more than just remote work possibilities, but are also developing flexible working environments. This consists of: flexible work schedules, compressed work weeks, even sabbaticals or long vacations.
Other organizations have implemented meeting-free days or core collaboration time in which employees are free to organize the rest of their day as they wish and when they are most productive.
Investing in Technology and Tools
Businesses are also updating their technology framework to support the expectations of Gen Z in terms of efficient and easy to use systems. This will involve deployment of new communication systems, project management systems and automated work flows which will decrease the administrative overhead.
The majority of employers are also investing in learning management systems and online training platforms where employees can get access to professional development tools on-demand.
Strengthening Company Culture and Values
Businesses are getting more particular with what they appreciate and the way to live it. These include regular communication on purpose and impact of the company, transparent reporting on ESG efforts and creating channels where employees can work on meaningful projects.
Employee resource groups, volunteer programs and partnerships with social impact organizations are other initiatives adopted by other companies to demonstrate their commitment to good change.
Innovative Recruitment Strategies
Authentic Social Media Presence
Employers are using the social media platforms where Gen Z spends their time which include TikTok, Instagram and LinkedIn. They are sharing the real-life content which is representative of the company culture, employee experiences and the life beyond the facade of the everyday work life.
Effective organizations do not want too polished marketing materials but rather actual employee testimonies and real-life workplace experiences that appeal to the Gen Zs pursuit of authenticity.
Streamlined Application Processes
Firms are making their application and interview process easier to eliminate friction among Gen Z applicants. This would involve shorter application forms, effective communication on what to expect, and quicker time of decision making.
Most employers have started giving video interview options, portfolio based evaluation, and skills based hiring which enables the candidates to showcase their abilities in a better way than doing a resume screen.
Partnership with Educational Institutions
The other trend is the practice of businesses entering into partnerships with universities, community colleges and training programs to hire Gen Z employees at an early stage of their careers. This incorporates internship programs, guest speaking, and collaborative projects which give a real life experience.
There are companies that have developed apprenticeship schemes and entry level rotations where Gen Z employees can experience various career options in the company.
Overcoming Common Challenges
Bridging Generational Gaps
Employers are managing possible generational clashes in the work place by creating understanding and cooperation. This involves training managers on how to deal with different age groups and developing mentorship programs that will allow the sharing of knowledge.
This is one of the reasons why many companies have been successful in matching Gen Z employees with more experienced employees so that they can learn together and benefit each other.
Balancing Individual and Team Needs
Companies are discovering how to support the Gen Z need of individual flexibility and still be a team and work together. This consists of effective communication processes, frequent team inspections and shared responsibility system.
Other firms have adopted the use of flexible teams where employees can work individually and in teams, which provides Gen Z employees with the freedom they desire, and at the same time achieve the goals of the business.
The Future of Work with Gen Z
Gen Z is not only affecting the job market in their numbers. They are changing the rules of the workplace and compelling employers to reevaluate many of their basic assumptions about work, remuneration and career growth.
The effects of this generation may continue to increase the pace of changes that will be beneficial to all employees as they join the workforce. The focus on the flexibility, authentic purpose, and on-the-go learning offer more comfortable working conditions to everyone.
Firms that are proactive in responding to the demands of Gen Z will gain considerable competitive advantages in terms of recruitment of the best talent and in the establishment of sustainable organizational cultures. The organizations that do not embrace these changes are at risk of losing the skilled and motivated workers that will make future business successful.
Building a Gen Z-Ready Workplace
Gen Z is not only affecting the job market in their numbers. They are changing the rules of the workplace and compelling employers to reevaluate many of their basic assumptions about work, remuneration and career growth.
The effects of this generation may continue to increase the pace of changes that will be beneficial to all employees as they join the workforce. The focus on the flexibility, authentic purpose, and on-the-go learning offer more comfortable working conditions to everyone.
Firms that are proactive in responding to the demands of Gen Z will gain considerable competitive advantages in terms of recruitment of the best talent and in the establishment of sustainable organizational cultures. The organizations that do not embrace these changes are at risk of losing the skilled and motivated workers that will make future business successful.
