Younger generations frequently usher a realm of new ideologies, societal norms, and cultural values. They also bring the latest fashion trends, technological adoptions, and even fresh demands for the workplace. The latter is currently becoming evident as the oldest Gen Zs are around 24 and starting their post-college careers.
Companies that wish to attract and retain top young talent need to revamp their operations, priorities, and cultures to fit the demands of Gen Z. Below, we will cover some of the most common factors Gen Z looks for in employers.
Diversity, Equity, and Inclusion
Gen Z is the most diverse generation in history, taking the crown from millennials. Therefore, it shouldn’t come as a surprise that the majority of Gen Z prioritizes workplaces that promote and fosters diversity, equity, and inclusion.
In fact, 77% of Gen Zs state that a company’s level of diversity impacts whether they want to work there. Furthermore, 63% say their top priority is working with others that possess diverse educational backgrounds and skill levels. These stats illuminate their desire to work alongside team members who have diverse personal backgrounds and coworkers who have diverse professional experience.
This differs from older generations, where companies emphasized having employees fit the mold and maintaining the status quo. Additionally, companies would be wise to prioritize diversity because it is good for business as it increases innovation, profitability, public image, and more. Find out more about the importance of diversity in the workplace with our blog here.
Prior to Gen Z, every generation had to learn how to use and navigate the internet, along with the budding technologies that utilize it. However, Gen Z was the first generation born into a world where the internet was everywhere. They never experienced a world without it.
This alludes to the fact that Gen Z has a higher standard for technology offered in the workplace. A company with advanced technology is more attractive to Gen Z. In fact, 80% of Gen Zs desire to work with innovative tech. This means that just supplying laptops to employees is no longer sufficient. Companies should also consider allocating funds towards digital tools and solutions, software, programs, tablets, emerging tech when it becomes available, and more.
Companies need to invest in leading technologies to show Gen Zs that they have a pulse on cutting-edge technology and regard it as a worthwhile investment. By investing in the latest tech, companies can illustrate how they are forward-thinking, along with how they recognize technology is only going to continue to grow in importance.
Like most of us, Gen Z aspires to have financial security. This is likely from several factors that influenced their upbringing, including the 9/11 terrorist attacks, The Great Recession, mounting student loan debt, and the COVID-19 pandemic. Gen Z experienced multiple economic downturns that illuminated the fragility and volatility of financial markets and the negative consequences the downturns produce.
That explains why 70% of Gen Z considers pay a top motivator at work. Companies need to compensate Gen Z workers fairly, or they will take their talents elsewhere. Gen Z is not likely as previous generations to accept the first offer they are given, but rather continue searching until they feel adequately paid.
Although Gen Z appreciates technology, they still emphasize getting feedback from their human coworkers. Until now, the norm in the workplace has been annual reviews. However, Gen Z desires much more frequent evaluations and communication on their performance and projects.
Research shows that 60% of Gen Zs want to meet with their superiors multiple times per week. Additionally, the more specific the feedback, the better, as they will learn more quickly and adjust accordingly.
Therefore, managers should prepare to set aside time to regularly meet or communicate with Gen Z workers regarding their performance. This can be done through a variety of different mediums and can be customized to the employee. Examples include weekly video meetings, daily morning check-ins, end-of-day email summaries, afternoon walks, and more. Managers should find what works best depending on their team.
Gen Z is shifting the workplace, and companies that wish to attract top young talent need to accommodate their demands or risk losing promising young professionals to other businesses. Companies can entice these young professionals by prioritizing creating diverse employee networks, providing and using cutting-edge technology, offering financial security to employees, and providing valuable, consistent feedback. Lastly, for companies to remain competitive in the future and as more Gen Zs enter the workplace, companies will need to continually adapt to what the younger professionals seek in their place of employment.
Is your company looking to hire fresh talent, or are you looking for a career move? If so, eNamix would love to talk with you! Contact us today at email@example.com to set up a consultation with one of our senior account managers.