Understanding Gen Z – what does this mean for your business?
Generation Z are those born from 1995 onwards. These will be the next generation of workers and hold a different perspective on work to the Gen X, Millennials and Baby Boomers.
A key speaker at the RCSA World Economic Conference late last year attended by Matt, Jo and I from the PN Personnel team was Alexia Hilbertidou.
At 20 years of age Alexia herself is a Generation Z worker, an entrepreneur and an achiever. At the tender age of 16 she became one of the youngest ever CEO’s, creating her NZ company GirlBoss. Alexia is determined, focussed and motivated. This young, female CEO is an advocate for gender equality and her mission is to bring more women to the boardroom table.
Alexia explained the values and goals of a Gen Z worker:
Gen Z are more likely to live with their parents and save their money.
Two years is the average length of time a Gen Z is expected to commit to a role before they move, they are focussed to climb the career ladder and are highly competitive.
Importance of salary
Money talks for Gen Z, they will be seeking a generous salary package, which they will save. They seek financial security and have similarities to their grandparents in their conservative approach to money.
Parties are out
The Gen Z may stay for a Friday night drink after work but do not expect them to be partying into the wee hours. This social culture does not appeal to Gen Z the way it has to baby boomers and Generation X.
Gen Z is an activist and a realist. Surprisingly, whilst they are entrepreneurs wanting to own their own businesses, they are not idealistic. Gen Z are focussed to achieve but realise they need to learn, save and set themselves up first before they take their next step.
Tech savvy Gen Z use their smartphone more than any other age group. They grew up with the internet and respond to social media before email, with Youtube, Instagram and Snapchat their favourite platforms.
What this means for your business
- Gen Z are entrepreneurial and aspire to develop their own business or take on a managerial position. Listen to their ideas and provide opportunities for development.
- Give them a positive work culture to be part of.
- Regular feedback and support in their work from their manager is important to them, face to face contact (either in person or via digital communications). Gen Z want to be coached to improve and learn.
- They value their work/life balance (although this is not as important as for a Millennial).
- They are hard workers.
If you can offer a modern and supportive workplace environment, with career progression and a decent salary, you will attract a Gen Z. If you can commit to regular face to face feedback, they will do well. If you can provide career opportunities and progression, you may be able to hold them longer than 2 years.
Cushla effortlessly tackles our fast paced industry with her pro-active nature. She is dedicated to delivering Temporary and Permanent recruitment solutions every time and is committed to understanding your expectations to ensure the right fit.
Cushla always has a positive upbeat attitude and is never too busy to hear from you, so call her today for a confidential chat.