Gen Zs Role in the Workforce
The Pew Research Center identifies 2 important generations in our current workforce. Anyone born between 1981 and 1996 (ages 26 to 41 in 2022) is considered a Millennial. Anyone born from 1997 onward is part of a new generation. This generation was named Generation Z (Gen Z).
Members of Generation Z account for 40 per cent of all consumers globally by 2020 (2.56 billion people). With Gen Z entering the workforce in vast numbers, it is essential for future-proof organisations to cater to their needs.
There are key differences between Gen Z and previous generations (Millennials, Gen X, and Baby Boomers). This blog focuses on the 3 most important ones.
- This is the first generation to be personally affected by climate change.
- This generation has a different view on work-life balance. More than previous generations, they aim to align personal and professional development.
- The most recent impact of Covid-19 makes this generation unwilling to compromise on certain working conditions.
These differences lead to 3 key criteria for Gen Z when considering a job:
1. A Company’s Response to Climate Change
According to Cone research, 83% of Gen Z considers the company’s purpose when deciding where to work. The same report shows their willingness to take a pay cut for a job in line with their personal purpose. This means that a company that invests in sustainability can realise huge gains in terms of attracting the best young talents.
2. Work-Life Balance
To find their purpose, Gen Z expects a certain standard of Learning & Development (L&D) programs. An alignment in corporate training to that of Gen Zers personal goals could easily improve the learning and development strategy of any corporation. To ensure a consistent program, companies need to invest time and energy to develop an L&D strategy. Ensuring continuous learning opportunities is of key importance for any organisation aiming to attract the best talents.
Gen Z employees view their work environment as an opportunity to develop their talents. Incorporating employee training that aligns with their ambitions will make the organisation a much more attractive employer.
3. Flexible Conditions
In a Volatile, Uncertain, Complex and Ambiguous (VUCA) world Gen Z values freedom to a high extent. The best example of that is the period after the appearance of Covid-19. Arguably, the pandemic has changed work forever.
This generation has spent a significant amount of their career in conditions hard to imagine pre-pandemic. Companies that want to be inclusive of gen Z need at least 1 of 2 things:
- Flexible working hours
- Work-from-anywhere policies.
In conclusion, future-proof organisations need to address the needs of Gen Z.
Attracting the best young talent will be crucial for any organisation, courageous enough to stay in business for a long time.