Imagine an entire generation who never knew a time without the worldwide web or a smartphone! A generation with answers to everything, literally in the pockets. How might their perspective be when it comes to working in an organization and what might their career aspirations look like? Do they really differ that much from the previous generations?
One of the common misconceptions in the current organizational framework is that Millennials and Gen Z are not so different. Think again!
Generation Z is roughly defined as the group of individuals born post mid-1990s while Millennials are the set of individuals preceding the Gen Z, born from early 1980s to mid-1990s. Gen Z individuals are also known as the Centennials; a segment of people who have been innately nurtured in a digital centric world. Gen Z are perceived to be less motivated by financial success and are more entrepreneurial in nature. They are the most technically and digitally advanced generation yet with a constant need to prove themselves. While Gen Z is foreseen to bring an exceptional degree of innovation abilities to the workforce, they are also instant-minded and competitive in nature. Making a difference to the organization, clients and the community is crucial to their perceived success. They have a desire to change the world by building new technologies to solve the concerns of the world.
Interestingly, according to a research conducted by Gartner Inc. 40% of Gen Z employees reported that they would not repeat their decision to accept the job offer they had accepted and only 51% said they could see themselves having a long career at their organization. Job dissatisfaction leads to low productivity and attrition.
Gen Z will soon become a major part of the workforce and have a completely different set of preferences and characteristics when it comes to their choice of workplace. Hence, you might want to devise a unique strategy to oversee this next wave of workers and stay up to par with their expectations.
Let’s look at some key fundamentals that will be beneficial for you as an employer while dealing with the Gen Z workforce.
1. Offer developmental opportunities
Gen Z employees comprehend advancement and change as a must. This segment of workforce continually searches for opportunities to learn and develop their skillset.
In order to manage the Gen Z, organizations need to offer various advancement options for graduates to help them progress throughout their professional cycle, and market these intensely to keep prospective candidates informed. In an effort to attract and manage Gen Z employees, it is crucial that organizations have a customised learning and development program designed to support employees in building themselves on a professional and personal level.
To learn more about having a customized learning program, read: Transforming Employee Development through eLearning
2. Develop a structured feedback mechanism within the organization
Gen Z employees desire constant feedback and coaching from peers and superiors as a way to improve their prevailing position in the organisation. Feedback provided in a constructive manner can boost employee performance, and thereby have a positive impact on the overall productivity. Structured feedback includes periodic performance reviews, one-on-one meetings between manager and team members and employee surveys to name a few.
3. Redesign your jobs to attract and retain Gen Z
Gen Z are considered to be role hoppers rather than job hoppers – a trait often seen in Millennials. Considering this, organizations need to redesign their jobs to attract as well as retain the Gen Z workforce. Most Gen Z employees prefer to have an exposure to multiple focus areas and disciplines with an expectation for diverse experiences and learning opportunities. Organizations can offer this through job rotation programs as way of allowing them to hop from role to role within the company rather than leaving the organization entirely. Companies should rethink traditional workforce planning and focus on redesigning jobs in a way that compels Gen Z workforce to want to join them. An additional perk of this approach is that you gain the loyalty of these employees.
All in all, Gen Z is immensely entrepreneurial and tech savvy in nature. Tapping on this goal-oriented generation could be the key to digital transformation for the organization, if employed and harnessed efficiently.
If you are interested to know more about transforming your Gen Z workforce, drop a line to us here!