Part 3/3: How to attract, engage and connect with Gen Zs at every step of the employee journey.
Welcome back!
In this three-part series we are doing a high level dive into Zconomy: How Gen Z Will Change the Future of Business and What to Do About It by Jason Dorsey and Denise Villa, PhD.
If you haven’t read parts one or two yet, STOP! Go back and read them both. Part one is all about the making of Gen Z - the “new normal” they are driving, generation defining moments that influence their behaviors and preferences, and their mindset on money, spending and saving. Part two is all about their expectations and behaviors as consumers. It’s crucial to gain this foundational understanding before learning how to engage them as employees.
Let’s set the stage and remind ourselves of some key things about Gen Z:
The eldest is already 26 years old.
They are the fastest growing generation in the workforce.
79% feel that other generations don’t understand them well.
They are the first fully digitally connected generation. 55% are on their phone 5 or more hours a day.
They use social media as a resource for everything – news, entertainment, community, dating, job hunting, education, etc. And they use each social platform for different purposes.
They are frugal with spending, and conservative with saving.
They are largely a generation of activists and their voice and expectations carry beyond social media into their decisions of which brands to buy from and which companies to work for.
Gen Z was the number one generation to initially lose their jobs during the pandemic.
60% of Gen Z (13-25) worry about their own financial situation daily or multiple times a week.
68% of older Gen Z (19–25) experienced a delay in some aspect of their life that was caused by the pandemic. The greatest delay (27%) caused by the pandemic was associated with postponing a switch to a new job.
Attracting, Recruiting and Retaining Gen Z Employees
The demands and expectations Gen Zs have as consumers are very much aligned with their demands and expectations of the workplace.
They want to work for companies that stand for something. They rely on personal connections, word of mouth referrals and online ratings and reviews before selecting a company to apply for. They want an easy, intuitive and of course mobile application process. They want to leverage technology for learning and mentorship opportunities. They want managers who care about them as individuals and don’t judge them for their age or inexperience, but value and invest in their potential.
It's all about building connections and tailoring experiences throughout the entire employee journey - from attracting to recruiting to hiring and retaining.
How COVID-19 Has Influenced Gen Z Employment
Zconomy was published in 2020 in the midst of the COVID-19 pandemic so I have sprinkled in some facts and findings from The Center for Generational Kinetic's research study THE STATE OF GEN Z® 2021-2022: Gen Z as Employees and Workforce Trendsetters. Zconomy authors Jason Dorsey and Denise Villa, PhD are the President and CEO of The Center for Generational Kinetics so we are staying in the same research family so to speak. COVID-19, without a doubt, is this generation's most influential generational defining moment (to date) and has profoundly shifted and reshaped Gen Z priorities, especially when it comes to desired career paths and employer expectations. According to the 2021-2022 State of Gen Z Report, Gen Z is activparticipating in what is referred to as "The Great Realignment". Since this past year, massive amounts of people (not just Gen Z) are leaving their jobs to "pursue other jobs or priorities based upon a new awareness of what is possible for employment, rising pay rates, and the ability to seek better working conditions." This makes it even more important for companies to not just offer competitive salaries and hybrid working environments, but also to take public stances on social issues and connect job responsibilities and company missions to a greater purpose beyond just business. And companies need to adapt fast or they risk losing top, young talent. 43% of Gen Z plan to change their career or industry because of what they learned or experienced during the pandemic.
The 2 Most Important Things That Attract Gen Z to a Potential Employer
Recruiting Gen Z Employees
Engaging and Retaining Gen Z Employees
Leadership is about serving others and putting other people's success before your own. Right now, we have a great opportunity to do both by investing in this dynamic, diverse, eager and hardworking generation on the rise. That investment starts first with a genuine desire to listen to and understand them. Understanding leads to knowledge which leads to action which leads to advocacy.
Outside of simply championing for the next generation, leaders need to understand (and quickly) that Gen Z is going to change the entire future of business and companies cannot rely on what worked with Millennials. How and when leaders decide to adapt to the "new normal" Gen Z is rapidly driving could make or break businesses.
I hope you enjoyed this series on Gen Z! Be sure to share any of the links below with your social networks to help spread the word and advocate for this exciting group of young, talented and promising future-leaders and trend-setters.
BONUS VIDEO: A Secret Tip for All Gen Zs Who Wants to be Invaluable at Work. A Must Watch for All Gen Z’s!
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