Millennials were the primary focus of marketers and recruiters for most of the last decade.
And for good reason: More than one-in-three American workers today fall into the age group.
However, as 18-35 year-olds settle into the workforce for the foreseeable future, it’s important to realize that the next drove of talent is on its way: Generation Z.
Some estimates put Generation Z (born after 1995) at more than 60 million strong and growing rapidly. As Gen Zs burst onto the job scene, human resources professionals must learn and adopt the best ways to attract and retain them, because a one-size-fits-all approach simply won’t work. The arrival of Gen Zs requires an entirely different dance.
Self-starters, autonomous, career-focused, and debt-adverse – these are all adjectives that describe the Gen Z bunch. Not to mention, they’re the most digital native generation to date, raised with a smart phone in hand, a tablet propped up, and limited (if any) exposure to the largely dormant dial-up internet.
Warning: Asking a Gen Z about dial-up will be met with an uncomfortable blank stare.
For Gen Z, a company’s culture and how they actively take part in defining it, who they work with and how they work together for a purpose beyond profits is paramount. This is likely why they are attracted to smaller, more unique companies. Their culture is the most on-demand to date, seeking immediate resolutions to problems and finding great satisfaction in rapid results.
Variety is a driving force for Gen Z, as they’re eager to connect with their peers and exchange ideas in open and collaborative environments. They’re equipped with an entrepreneurial spirit and desire to make a meaningful and immediate impact in both their careers and communities.
Organizations hoping to attract top Gen Z talent must strategize to appeal to their need for workplace gratification. To do so:
Thought Millennials were job hoppers? Gen Z takes it to whole new level: 83 percent of Gen Zs believe three years or less is the appropriate amount of time to spend at their first job, with more than a quarter looking to jump ship in a year or less.
Keeping Gen Z talent will require a radical shift from the traditional retention mechanisms, including:
It’s estimated to cost between $15,000 and $20,000 to replace millennial talent, and additional turnover of Generation Z will only add to the cost.
By understanding the defining traits of Gen Z, employers can lay a solid foundation for the next wave of talent, prepare for their unique concerns and demands, and build programs for successful Gen Z attraction and retention.
