Companies are expected to welcome Gen Z earlier than expected because of their unique views about higher education. 75 percent of Gen Z says that there are other ways of getting a good education than going to college. They want to go work for a company that trains them like a college. After seeing the millennial struggle with college debt, teens are skipping post-secondary education altogether.
So with Genz entering the workforce in such large numbers, here is what they are going to be demanding 2019 onwards and how you can keep up with them –
1. Purpose-based job
Gen Z wants to give their best to jobs where they feel they have a sense of purpose. They believe in creating value that matters. The youngest generation in the workforce is aware of and clear of their needs and aspirations. They do not want a job just for a salary.
For this, recruitment efforts need a revolution in companies. Cultural fit should be given the highest priority while choosing a candidate. Aspirations need to be discussed and understood before offering a job. This is beneficial for both the employer and the employee. Bu spending time finding the right candidate, companies won’t face high attrition rates. And employees will also join a job where they believe they can make a difference. A win-win for all.
2. Regular performance dialogues
Gen Z is going to challenge traditional ways of performance management. Waiting the entire year to see how they have done is a frightening thing, especially when it becomes more about failures than achievements.
Gen Z will demand regular performance oriented dialogues, which are on the spot or immediate. Regular performance dialogues are essential, which includes regular feedback, transparent processes and easy tools and technology that enables this in a free-flowing manner. Gen Z wants is passionate and want to improve at every slightest chance. They appreciate constant conversations around their performance, which is what organizations need to build.
3. Coaches over bosses
Gen Z’ers want to have leaders who lead by setting the right examples. Bossy managers don’t intimidate them. They want humble and honest leaders who they can have the comfort of interacting with one-on-one. This makes corporate mentorship programs one of their most demanded needs in a new job.
Organizations should build effective mentorship programs for this hungry for knowledge workforce. The intent should be to make a genuine attempt at mentoring and coaching to these new bees and be available to solve their queries. Such efforts with leaders participation will increase long-term loyalty and prevent a retention crisis in the future.
4. Tools and technology
This is a generation that grew up with the internet and found answers on their own through how-to videos on YouTube. Many other such tools have been on their fingertips from a very young age.
Organizations must offer innovative solutions to appease the learning appetite of this young workforce. Be it using technology for learning and development, for measuring performance or giving feedback, these tools need to be easy to use, appealing and attractive and with the best user experiences. Such opportunities would satisfy Gen Z aspirations and preferences.
70 percent of candidates look to company reviews before they make career decisions. The way the company brand is managed plays a great role in whether or not a candidate is likely to apply or consider an offer. 69 percent of candidates are likely to apply to a job if the employer actively manages the employer brand.
Out of the 32 million monthly users on Glassdoor, 10 million are Millennials and Gen Z. It is time for companies to up their branding by being active on platforms such as Glassdoor and LinkedIn if they want to attract the best talent. Responding to reviews, tracking them, using feedback to improve processes, updating profiles, making job applications interesting, and creating a virtual image of an outstanding work culture is now more important than ever. When asked what would make them stay at a job for more than 3 years, the top response was an empowering work culture.
6. Diversity and inclusion
77 percent of Gen Z say that a company’s level of diversity affects their decision to work there. An inclusive and equal organizational culture will attract Gen Z the most. It is imperative for organizations to pay heed to the burning issue of equality, and diversify their efforts in the achievement of the same.
The number of executives who cited inclusion as a top priority in 2017 has risen from 32% from 2014.
~ Global Human Capital Trends Report, 2017
Research by Deloitte makes it clear that diversity and inclusion can positively impact on employee performance. Diverse and inclusive teams are more innovative, engaged and creative in their work. In order to fully contribute and perform to their best, employees need to feel included and free to speak up about issues.
Leadership will play a huge role in achieving this kind of a utopian structure within organizations. Only when the ones in power understand the importance of these critical issues and address these challenges will there be a commitment to actually work towards it.
With all these realities, it is no longer a mystery that Gen Z will spearhead the workforce in 2019. Organizations large and small should gear up to welcome this workforce with the best of initiatives. Only then can they stay in the talent game for long.