Employee Retention in the Gen Z Era - An Insider's Perspective

Employee Retention in the Gen Z Era—an Insider’s Perspective

?The working world is in the midst of a wave that requires a new and different approach to employee retention.?

The wave is the influx of Gen Z employees into the workplace along with their accompanying priorities, needs, and expectations that are far different from those of any previous generation.?

There are an estimated 61 million Gen Zers in the United States alone and Gen Z accounts for almost 30% of the world’s population . Add in that over half of all workers 55 or older had retired by the end of 2021 and the importance of focusing on the needs of Gen Z when it comes to retaining talent becomes even more apparent.

This article seeks to offer some insight on Gen Z from the perspective of one its members in an effort to better understand this critically important topic.

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Gen Z tend to seek jobs not careers—plan accordingly ?????????

Gone are the days where an employee expected to stay at the same job for their entire career.?In fact, a study from Yello Recruiting revealed that only 1 in 4 Gen Zers planned to remain with the same company for more than 5 years and, based on another study by the Adecco Group, 83% of Gen Z would leave an employer if opportunities for advancement were unclear.?

?Businesses seeking to slow down this job-hopping must understand, consider, and respond to the needs, priorities, and expectations of Gen Z—including the following:

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Gen Z wants to make a tangible impact

We have grown up in the era of 24-hour news cycles reporting on mass shootings, global suffering from pandemics, worldwide economic crises, racial tensions, protests, climate change, and many more troubling topics.?This has impacted my generation and we want to make a difference. In fact, 42% of surveyed Gen Z workers would take a lower paying job if that job allowed them to make a difference.?Retaining Gen Z employees is about more than just money.?

An employee retention strategy that ignores the importance of corporate and social responsibility is doomed for failure.?It is also imperative that companies demonstrate how the work of Gen Z actually results in a tangible impact in the world.?Companies must show this impact and connection; simply talking about it will not be enough.???

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Work hard, play hard

Despite the reputation assigned to Gen Z by some of those from older generations, we are not afraid to work hard.?We will put in the work if we view it as valuable and rewarding.?

However, Gen Z prioritizes a work-life balance—38% of Gen Z places a work-life balance as the top priority [JK1] ?.?Fulfillment in life comes from more than just work.?Free time, personal time, vacations, and recreation are a must.?

There are multiple suggestions on how companies can better strike the work-life balance but those offered by Ashley Stahl, a career coach and podcast host, are particularly attractive:

·?????Encouraging employees to unplug from technology over the weekend or even suspending company servers from sending email communications “after hours”

·?????Starting meditation, yoga, or exercise groups at the workplace

·?????Providing easy access to mental health counseling and career coaching

·?????Allowing flex time and remote work

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Gen Z thrives on technology AND human contact

?Gen Z is the first fully digital generation . Gen Z is tech savvy and demand the latest and greatest technology at work.?Along with this comes a link to hyperconnectivity to digital outlets, addiction to smartphones, and a desire to avoid human interaction.?Falling prey to these stereotypes will harm a company’s ability to retain talent.?

Gen Z also craves human interaction at work.?A striking 90% of Gen Z desire human interaction at work, either with innovative co-workers or for respectful and encouraging leaders.?Collaboration and positive relationships at work are invaluable in allowing employees to feel connected to their workplace.?Fostering this interaction and facilitating these relationships are key employee retention strategies.?

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Diversity and inclusiveness are a must

?Gen Z is the most ethnically diverse and has been influenced by conversations about inclusivity, racial justice, sexual identity, and LBGTQ rights, among many others.?The importance of diversity and inclusion to my generation cannot be overstated.?Leaving a company that fails to honor this priority is easy for those in Gen Z.?

Companies seeking to keep the best talent must make diversity and inclusion a priority. These attributes must be a demonstrable part of the company culture and successful companies must share data from their efforts.?Promising change will not be enough.?Diversity and inclusion must be viewed as a retention incentive, not something that simply satisfies some metric imposed by an outsider.

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We connect when we are invested in

While Gen Z is more likely to switch jobs than previous generations, more than 60% of Gen Z aspire to become part of management .?The progression to management necessarily requires investment in mentorship, training, and career development.?These investments and related programs help demonstrate a well-defined career path that can help retain talented employees.?Gen Z is more willing to invest in a company that helps make the path to the future clearer.?

Company investments on this front could include mentorship programs, career coaching, managers that encourage employees to take chances, advanced training programs, and advancement opportunities. Another option that can entice Gen Z employees seeking further training is an on-demand training program utilizing Youtube-like videos.?Other innovations aimed at making the path ahead more visible or attainable will be important to Gen Z employees.?????

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Run, don’t walk

??The wave has already started to come ashore, and steps need to be taken right away.?Gen Z and the unique attributes of my generation will challenge businesses for decades to come.?Businesses need to act now to better position themselves to keep the best employees.?Companies that invest in understanding Gen Z and those that implement informed retention strategies will prove far more successful than those that adopt a “wait and see” approach.?????

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