Finding reliable and retainable talent is an issue for every business – from the Fortune 500 companies to the small and medium-sized businesses (SMBs) down the street. One of the best ways to attract and retain talent, and to create a longstanding and enduring company culture, is to curate a multigenerational workforce… and that means companies need to start paying attention to Gen Z.
Like every generation that came before it, Gen Z brings its own views of what work and work-life balance should be. Those views are heavily colored by the environment and world that Gen Zers grew up in. To Gen Z members – the Great Recession of 2008, climate change, and hyperpolarization of US politics are the key moments in the development of their economic world view…. and the current Great Resignation only adds to their perception of work.
Because this generation, much more than Millennials and Gen X, wants to shape their work environment to fit their views, they are encountering (and creating) increased culture clash and friction. However… they still need to pay the bills, so as more and more Gen Zers enter the workforce – expect this conflict to expand. With this conflict between what is and what they think should be, there will come innovation and evolution in companies worldwide.
Given this complex relationship, how should business owners attract, satisfy, and retain Gen Z talent?
Gen Z Workers, and the Future of the US Workforce
Businesses will need to consider two key factors as they approach integrating Gen Z into their workforce.
The First: Gen Z has had the internet, smartphones, and access to social media at their fingertips since they were born. Subsequently, Gen Zers have zero hesitance to broadcasting their views about work or anything else on social media – and to their coworkers. Gen Z is more likely than any other to discuss politics, salaries, and other hot button issues both online and in-person.
The Second: Gen Zers have an incredibly strong sense of self and individuality, and they want their employers to see them as a person, not just another cog in the corporate wheel.
With these two factors in mind, Gen Zers want to work for a company that will:
- Share their values and ethics
- Allow a mix of in-person and remote work, but will not require a 40-hour, 9 to 5 work week.
- Make them feel appreciated, appropriately compensated, and respect their work-life balance
- Provide in-house opportunities for advancement .
So in order to provide the kind of work environment that Gen Zers actively seek, company higher-ups must commit to flexibility in their established protocols.
Here are four good examples of that flexibility that will attract Gen Z talent:
Taking this step allows younger workers to learn from experienced workers, gives them a feeling of accomplishment and provides a path to career advancement.
Real Time Feedback
For Gen Zers, quick gratification is the only type that matters. Annual performance reviews are just not a concept a Gen Z employee responds to. Instead, they want to know how they doing in situ. Company leaders must focus on providing quick and on-the-spot feedback for their Gen Zers. However – because the desired feedback will be far more frequent, the amount of feedback can be proportionately less. That means that a Gen Zer would be happy with something as simple as a thumbs up to indicate a job well done.
Gen Zers are health and lifestyle conscious, so perks like flexible spending accounts, employee assistance programs. mental health days, etc show these employees that their emotional, metal, and physical health are valued.
Gen z appreciates when their companies demonstrate social responsibility. Working with companies that value more than just their profit margin is an important factor for Gen Z workers. Offering perks that support this, such as paid time off for volunteering, is extremely attractive to Gen Z.
The talent shortage is here to stay – and your best bet as a company is to evolve and create a workplace that appeals to a multigenerational workforce.
Capital Payroll Partners has worked with businesses small, medium, and large to attract and retain talent from the baby boomers generation to Gen Z – and we can help your business too. If you’d like to learn more, get in touch using the form below.