Oliver Wyman just released their 2023 Gen Z report. Leaders need to read it and take it seriously. The study confirms what generational expert Tim Elmore already knows, that Gen Zs love change and job hopping.
70% of Gen Zs who say they are "loyal" to their employers are either actively or passively seeking a new job. While 29% said they were seeking better pay, nearly as many cited personal fulfillment (25%), better work-life balance (24%) and better advancement and growth opportunities (25%).
To better understand how to stay ahead of this trend and prevent your youngest talent from jumping ship, you have to hone in on what is causing the initial itch. The itch is the yearning for something more, something new or something else that takes place months, weeks or sometimes just days before they descend into the rabbit hole of "what else is out there."
Gen Zs operate on much shorter circuits, meaning they want everything faster and their attention spans are shorter. While older generations get the itch traditionally around their second or third anniversary with a company, this is happening with Gen Zs anywhere from 18 months to 90 days into their new position.
The itch can be caused by any number of things including a new skill they want to learn, a new position they want to grow into, an increase in pay, more validation, a stronger team culture, a new challenge, better work-life balance, etc. Whatever it is, if not properly scratched, that itch will quietly fester into daily searches for a job that will satisfy it.
Here are 5 things you can do to scratch that itch and prevent quiet quitting and job hopping:
#1 - Frequent Check Ins
Here are some fun facts. Over 60% of Gen Zs say they need feedback from their supervisor at least every few weeks in order to stay at their job. 20% need feedback daily or several times each day in order to stay with an employer. 55% said they want positive encouragement or reinforcement at least once a week from their boss in order to be happy at work.
If you are not having regular check ins or one-on-ones, especially with your younger employees, it's time to start. This can be as simple as a fifteen minute check in each week partnered with a sixty minute one-on-one each month. You can also mix in any of these great pulse check questions into your existing routine meetings - either with individuals or with the whole team:
What about your role with this company excites you the most?
How does what we're doing link to your own sense of purpose?
Do you see how your role impacts the larger purpose and goals of the company?
What do you want to learn more about?
What is your biggest goal in the next 30 days?
How do you feel misunderstood?
Are you happy in your role and on this team?
Has anything been frustrating you lately?
Is there anything going on that I can offer support or encouragement for?
When do you most feel the most valued and appreciated?
Are you happy with your current work-life balance?
Where do you feel behind and how can I help?
When have you felt the most energized and motivated in the last 14 days?
#2 - Create Internal Gig Economies In Your Organization
Tim Elmore recently proposed this idea on his podcast Leading The Next Generation and in an article titled Ten Ideas to Keep Your Best Generation Z Talent. He pitched the idea that "since Gen Zs love change and job-hopping, what if you focused on cross-training, and welcomed teammates to move around every several months? They may look forward to it."
Here are several ideas to create an internal gig economy in your organization:
Create internal networking opportunities for Gen Zs to meet and learn from other people in the organization. Provide structure and insightful conversations starters to make it a more productive experience than a typical happy hour or social gathering.
Post upcoming projects or initiatives in a community forum and allow Gen Zs from other departments to put their name in the hat to be on the project.
Promote career latticing - a progression pathway that allows for vertical, horizontal and diagonal movement verses staying in their department to grow. Gen Zs aren't looking to climb the traditional corporate ladder but instead want to gain different experiences before shifting to something new.
Allow Gen Zs one hour a week or two hours a month to spend cross-training in other departments of their choosing. Think of Google's infamous 20% Rule but for cross-training instead of projects and innovation.
45% of Gen Zs have side hustles outside of work. Take an interest in what their side hustles are and create opportunities to leverage the skill, passion or creativity driving the side hustle into their role with the company.
Create internal side hustles - ways for Gen Zs to earn some extra cash or spot bonuses by completing projects, initiatives, tasks, organizing events, etc., that may fall out of their normal responsibilities.
#3 - Create, Foster and Promote Mentorship Programs
90% of employees who have a mentor at work are happier, more productive and feel empowered to contribute. Yet only 37% of professionals actually have one. Having a mentor is an important aspect of the employee journey for Gen Zs from their very first week on the job.
In their national study, the Center for Generational Kinetics found that having a first week mentor was more important to a new hire than detailed pre-first day job information, having the equipment needed to start on a first day, be taken on a tour of the company facilities, or even being given a welcome gift.
Even after they settle into their role, they want to have a go-to person to learn from and ask questions without always having to go to their leader. Growth and development is incredibly important to Gen Zs as well as feeling invested in, heard and understood. Having a mentor is a great way to accomplish all of the above.
But they need help. Most aren't comfortable enough or don't yet know how to go about asking someone to be their mentor. Or they may not know who to ask. If your company has a formal mentorship program, you can plug them into that. If not, it is as easy as finding out their aspirations, learning needs and growth goals then introducing them to someone you know who you think would be a good fit.
#4 - Offer Frequent Human-Led Training Opportunities
As tech-savvy and tech-dependent as this generation is, when it comes to learning Gen Zs actually prefer to put their phones aside (not away, that gives them anxiety) and learn face-to-face and and along side their peers. Over half of Gen Zs prefer in-person learning activities with classmates over virtual learning.
And as amazing as your company's annual conference may be, offering in-person learning once a year isn't going to cut it. As previously mentioned, Gen Zs operate on much shorter circuits so everything from feedback to recognition to advancement opportunities and, yes, to learning and development should be offered more frequently than with previous generations.
Offer training opportunities either monthly or two times a quarter, and choose topics that are craved, relevant, easily applicable, and personal to their growth goals.
#5 Consider Hiring a Gen Z Leadership Coach
Here me out on this one. 30 years ago your boss was your boss. 20 years ago your boss was you boss and mentor. 10 years ago your boss was your boss, mentor, sponsor and friend. Now a boss is a boss, mentor, sponsor, friend, life coach, career counselor, therapist, etc.
Leaders today, especially leaders of Gen Zs, are wearing more hats than they previously had to wear with other generations. Pile that on top of the rest of everything else expected of them from their leaders and organization, you are going to end up with a lot of burnout.
My friends at Transcend Business define Executive Coaching as "individually guided personal and professional development engagements targeting what matters most to unlock clarity and ignite elite executive performance."
Reread that statement extracting the word executive and find me a leader who wouldn't agree with the impact this would have on young talent, and who would say no to some help in this area. It's what all great leaders want for their employees but struggle to find the time to do so effectively.
A coach would be able to come along side the team leader (not replace), create alignment around the employees development needs, provide consistent coaching and training, and ultimately share and help lighten the otherwise heavy load leaders are feeling these days.
By 2025, Gen Zs will make up over 30% of the workforce. The time to adopt a Gen Z strategy is now and I would love to help you get it started. If any of this post resonated with you, your employee dynamics or business' needs, let's connect.
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