How to Attract Gen Z Talent into Your Business and Why It is Important
Gen Z is the newest generation, born between 1997 and 2012. They are currently between 9 and 24 years old. Incredibly, in the UK, Gen Z is estimated to already make up 20% of the workforce.
While Baby Boomers have retired or will be exiting the workforce shortly, Gen X (those born between 1965 and 1980) are managing an increasing number of Gen Z employees. Business owners and MDs need to attract the talent from this new generation for the future of their business.
Gen X and Baby Boomers have been attracting and managing millennials, those born between 1981 and 1996, i.e. aged between 25 and 40, for some time. However, Gen Z are different to millennials and this needs to be kept in mind.
Here’s how you attract Gen Z talent.
Culture, Mission, and Values
To attract Gen Z talents to your business, you must offer them a culture, mission and company values that mirror their own work ethic.
As business owners and MDs, we like to think we have everything nailed down. We like to think that our model and approach is the best. However, in reality, social norms and the society in which we operate constantly changes challenging our business models and how we approach and work with others. Brexit and COVID have challenged many businesses who have had to adapt to survive.
Our core values do not change but the way we operate and work with others does. In addition, each generation brings a new outlook on society and the work force.
Gen Z is attracted to businesses offering equality, diversity, sustainability, and enhanced career paths. These elements must be factored into your company culture and talent strategy.
Let’s break this down further:
Gen Z Employees Want A Flexible, Mixed, Working Schedule
Gen Z employees don’t want to be stuck to a 9-to-5 commute to the office, five days per week. They look for jobs that offer working from home one or two days and going to the office on the others so they can connect with the team and build relationships. Gen Z, unlike some millennials and Gen X employees, do not want to work from home every day of the week with just an occasional trip into the office. However, they do want some opportunities to work from home.
Remember they are new to the workforce, are likely to be living with their parents or in a house share and need to meet and network with your team.
It is important that you offer a mixed working set up not just for Gen Z but for the other generations also. A key point with mixed working is to ensure the week in the office is fully covered. If you tell employees they can work from home two days a week, the office will be a ghost town on a Monday and a Friday and full from Tuesday to Thursday.
This is not good for your customers and it does not allow you to reduce your office space. It is better to have your employees manage it so, in this example, 60% of the workforce is in the office every weekday. This allows you to reduce your office space and meet your clients at the office as needed.
Non- Financial Perks
More than the annual bonus and salary that reflects their skills and hard work, most people in this generation appreciate non-financial perks like free coffee, gym memberships, mindfulness session, social events, annual leave and more. When you try to incorporate these non-financial perks in your company, you are more likely to attract these generation.
A Positive Community
Gen Z employees want to feel like they are part of a bigger community. A company that takes interest in its employees and local stakeholders. They want to be part of a wider network that will give them a greater sense of purpose and belonging.
You should make your Gen Z employees feel like they belong to a bigger family by allowing them to take part in team building and community-based activities.
Greater Responsibility and Autonomy
Gen Z has a different outlook to other generations. Gen Z employees are eager to learn, grow and move quickly up the corporate ladder with a burning desire for more responsibility and greater autonomy in how they work. Gen Z talents do not believe in a job for life, hence moving from one employer to another by staying in a company for only a short period of time. These regular moves (e.g. every 6-12 months) can be due to dissatisfaction created by unrealistic expectations.
Gen Z want to change the world, including your business, overnight. They can feel like they have failed if they do not achieve this and look for another opportunity.
While you need to offer a clear path to promotion, you do need to work with them to set realistic expectations and timeframes, so they don’t leave after you’ve invested time and money in training them. On the other side of the coin, these employees might take on more responsibility and autonomy than they are able to cope with.
This can create stress for them and leave you feeling let down when they fail to deliver on their over-ambitious targets. You need to strike the right balance with them so both of you reach your goals.
If you are having a difficult time, we can always help you in getting the Gen Z talent to your team. If you want to know more, do contact us at accounts@nayloraccountancy.com or call us at 44 (0) 1892 807 001.
