Get Ready for Generation Z
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While Generation Y has been on the radar for years, there’s a new batch of employees entering the workforce: Generation Z. This second wave of millennials was born between 1990-1999 and will make up 20 percent of the workforce by 2020, according to a report by PwC. Here are some takeaways from Robert Half’s Gen Z research that can help you and your staff welcome these newest young professionals to your ranks:
What Sets Generation Z Apart
Generation Z is the first truly digital — and global — generation, never knowing a life without the internet, smartphones and constant connectivity. They are ambitious, entrepreneurial and passionate. Our research revealed the following particulars:
- Generation Z came of age during a recession and realize a college degree doesn’t guarantee success: Seventy-seven percent expect to work harder than previous generations.
- Generation Z wants a robust work experience and are constant learners: They expect to work at an average of four companies throughout their careers to get the variety of experience they crave.
- Generation Z is ambitious: Five years out of college, 20 percent expect to be entrepreneurs, 24 percent plan to be working their way up the corporate ladder and 32 percent want to be managing employees.
- Generation Z is more accustomed to guidance, direction, support and coaching from parents, teachers and counselors than any generation in history: Eighty-two percent say their parents help influence their career decisions.
Attracting, Managing and Retaining Generation Z
Having grown up in a distinct technological and economic climate, Generation Z is different from Generation Y — and HR professionals need to approach their hiring and management of them accordingly. Here are some keys to attracting, managing and retaining Gen Z.
Attracting Generation Z
Generation Z is passionate about issues important them and wants to work for companies that are, too: Thirty percent said they would take a 10-20 percent pay cut to work for a company with a mission they care deeply about. When hiring, advertise what matters to your organization and be ready to back it up.
While it’s easy to assume that Generation Z’s proficiency with technology means they prefer to communicate at arm’s length, surprisingly, Gen Z does not want to work in isolation. Robert Half’s report revealed that 64 percent of Gen Z surveyed said they prefer to collaborate with a small group in an office, while merely 7 percent said they want to work virtually most of the time. If you want to attract the best and brightest from this group, make sure you’re selling an environment that offers personal interaction.
Managing Generation Z
Generation Z is so accustomed to thinking outside the box that they sometimes forget to look at tried and true solutions first. You may need to remind them to look at proven practices before reinventing the wheel.
And while Generation Z likes lots of autonomy, they want to be set up for success. They expect to be given input and tools they need up front, and they want lots of feedback about their work. After all, they’re used to receiving it from parents and mentors.
Generation Z is also accustomed to both being taught and giving input. They’re constant learners. That means they’re particularly poised for developing good listening skills. If management encourages them to hone the listening skills they already have, they’re going to be better able to get along with others and make good decisions.
Retaining Generation Z
Generation Z has witnessed their parents and grandparents struggling with money and are worried about being able to afford a healthy work/life balance, which is a priority for them. Offering financial security will go a long way toward keeping them around.
Additionally, Generation Z doesn’t want to climb the traditional corporate ladder. Instead, they favor an environment where they can learn, grow and contribute in a variety of roles. Fail to provide those things and they won’t think twice about looking for them elsewhere.
Businesses that recognize how Generation Z brings new strengths and expectations to the workforce will be poised to maximize the potential of this new crop of workers. Will you be the HR professional who helps your company be one of them?