How to attract and retain the workforce of generation Z?
2019 was the first year when most of the generation z graduated from university and began to look for a job. Generation z, or in short gen z, is a generation of people who are born between the years 1997 – 2012 and are said to make up a third of the workforce by 2025. In addition, generation z is considered to be one of the largest generations of people, which means that in the future gen z will be the generation whose opinions shape the world.
What is special about gen Z?
Gez z is the first generation to be grown up in a digital age. It means that the internet and technology are their friends. The average generation z representative was two years old when Facebook was launched and three when Youtube was created. New generation workers value their time and dare to leave when their efforts are not being noticed. A survey of 600 participants by ThoughtExchange in 2022 found that 89% of young people in the United States are willing to change jobs within a year if not feeling supported by the work. However, it cannot be said that gen z is inconstant. The same survey showed that under good conditions gen z is generally to be loyal to their employers, working many years in the same place.
For Generation z it is important that their personal values match with those of the company they work for. As many as 92% believe that it is important for the company to think similarly to them, and 71% are checking over the company’s profile about how open they are said to be to the different values of society before deciding to apply for a job.
How to retain gen Z workers?
Here are 7 different ideas you can use to make your business more attractive.
1. Listen and involve your employees in the discussions
Gen z is largely sprung on the Estonian saying “where you see a flaw, come and help”. It is very important for the new generation to get the opportunity to have a say in matters concerning the company. Having grown up in a world that is largely contradictory, they want to contribute and feel that their views are heard.
2. Allow anonymous feedback
This point is mainly important to bigger companies, where the employees are not very close. The ThoughtExchange survey found that one in seven respondents out of 10 are actually afraid to share their views publicly. The main reason pointed out was fear of judgement. Out of the 600 respondents, 69% said they were afraid of having a career setback in their company and 62% were afraid of being discriminated against.
3. Create a coaching system
In order to strengthen the team spirit and encourage employees to express their opinion, it is a good idea to create a coaching system in the company, where more experienced staff members can direct the younger ones. According to an Airswift article, 57% of gen z employees feel the need to be available at all times, suggesting a high level of anxiety. Having the opportunity to interact with older generations can help to lower stress of newbies and help them integrate better into the company.
4. Be flexible and allow remote work
Although there are some jobs where it is not possible to work remotely, today there are few of those. For most companies, thanks to technological advances, it is possible to work from home or on a flexible schedule. This is especially important for generation z as they want to be the masters of their time. Since the COVID-19 pandemic, working from home office has become a normality. Gen z keeps up with the workload, but loves to have a choice of where and at what time they work.
5. Offer professional development opportunities
The ThoughtExchange survey found out that 80% of respondents prefer to work in a company that offers them different ways of personal and career development. Generation z works to develop and personal development is very important to them. Therefore, as an entrepreneur, it is clever to share various articles and seminars with employees, organise in-house training and enable development within the company. If possible, for example, it is a good idea to let employees try out different roles within the team. Gen z wants to experiment and try out different things in order to find the best possible solution for themselves, offering the possibility to do so can greatly increase your attractiveness.
6. Offer a competitive salary or various bonuses
While it may seem that it is more important for the new generation to do the work they love than to earn a high salary, money is inevitably needed. The desire to be unique and environmentally friendly makes most young people choose their profession according to their salary. If it is not possible to match the competitive salary, the survey shows that almost 19% of gen z representatives are willing to make salary reductions, provided that the company has something else to offer. For Generation z, for example, it is mainly attractive to support their sporting activities, provide mental health advice, provide free food or pay for transportation.
7. Interact and be interested in others
The last point actually applies to all generations. As an entrepreneur, it is important that you are interested in your subordinates, because ultimately they are the ones who will help you in reaching your dreams. Talk to your employees, find out what interests them and what are their future goals. Ask how they are doing, support and be there for them. In that way everyone feels valued and wants to work with you in the future.