Gen Z is the latest generation to enter the workplace. While Millennials still remain the majority of today’s workforce, Gen Z is catching up. Those born between the mid-1990s to mid-2000s qualify as Gen Z and account for 61 million people in the United States. The Gen Z population are digital natives and they can’t imagine a time when the internet didn’t exist. Technology has always been an integral part of their daily lives and, like Millennials, social media is a big part of it. Compared to the previous generation of Millennials, who are often criticized for job hopping, Gen Z workers, who grew up during the 2008 recession, seem to be gravitating toward jobs that are more stable and they appear to prioritize financial security more. With this new workforce generation it’s important to offer guidance and encouragement to help them develop and thrive professionally.
Companies looking to attract young new talent, like Gen Z’ers, are more frequently offering perks like flexible/remote working set ups, unlimited vacation, free food and beer on tap, but studies have found that mentorship programs and healthcare are the benefits that matter most to them. Furthermore, for the latest workforce generation, an empowering work culture is more important than a high salary. They want to be involved in making a difference and the majority of them value their employer being actively engaged in the support of social initiatives. This can come in the form of the company donating a percentage of their profits, promoting volunteer programs and giving them time off to get involved with causes that are important to them. There is no doubt that their managers also play a critical role in the success of young, new talent and making employees feel valued and recognized for their achievements, both small and large, is key. It’s important to understand their career goals and give them the tools and counsel they need to reach those goals. Older generations mentoring the new workforce can also benefit and learn from their younger counterparts who are more familiar with social trends and who can offer a fresh perspective.
Gen Z employees are praised for being achievement-driven, socially conscious, tech savvy and purpose driven. They are the most diverse workforce in history and their ideals and motivators are changing the landscape of our economy. They, along with a significant percentage of Millennials, are driving a different level of awareness and acceptance in today’s society and it’s having a direct impact in the business landscape and our economy. This generation is a driver of thinking differently and pushing societal norms. Our world is changing, and the latest generations are going to lead the charge. To foster this new wave of innovation, it’s important to give them the support and guidance they need. Gen Z employees do well in collaborative environments and want regular feedback and recognition on their successes. They do well with guidance from a mentor vs. being micro-managed. Setting goals and providing a coaching based leadership style will help the new workforce emerge as young leaders.