Gen Z in the Events Industry – What can we do to attract and retain the best young talent?

When I attended the Conference & Incentive Travel (C&IT) Corporate Forums in London back in January, one of the panels discussed the topic?of talent challenges within the events industry. The panellists raised some interesting points around implications of the pandemic, their struggle to attract and retain talent and the differences between the incumbent Millennial workforce and the incoming Gen Zers.

As someone born in 1994, I'm classed towards the back-end of the Millennial cohort, almost on the cusp between two generations, and while I identify more as a Millennial in the way I approach my work, there are attributes of Gen Z that resonate with me and that I find really progressive and valuable in todays world. As a result, I wanted to dive into this a little deeper.

Implications of the Pandemic?

As we know, during the COVID-19 pandemic, the events industry was hit hard. With live events on hold, both planners and suppliers were forced to reduce their costs, and a big part of that involved reducing their headcount. Even with the Furlough system, a huge amount of talent was forced out of our industry.???

Even for those who were able to retain their jobs, the Pandemic created a shift in mindset for many, as they had time to reflect on their priorities and the direction of their careers.

This led to what we now call “The Great Resignation”, where a large number of employees began to quit their jobs in search of better opportunities, more flexible work arrangements and an improved work-life balance. The increased adoption of remote working also allowed people to live in lower cost areas and, as a result, huge numbers of people moved out of the major cities where the biggest event venues and event businesses reside.??

As events began to return, we then saw a surge in job vacancies which made it easier for employees to find new positions that better aligned with their interests and values, and after the turbulence many in the industry experienced, they took the decision to leave the events world for good.??

Now coming out of the other end of pandemic, the events industry has a depleted workforce and a huge loss of senior talent and knowledge. Businesses are now faced with hiring a new cohort of young professionals. Gen Z. A generational wave that is posing challenges of its own.??

Who are Gen Z??

There are slightly different views on when Gen Z were born, but in general, they are born between the late 90s and early 2010s.? In the 2023 adult workforce, that puts them between 18-24 years old.

As it stands, Millennials currently make up most of the workforce but by 2025, Gen Z will make up nearly a third (Forbes), and this is only going to increase over time. It’s therefore important for employers to understand their motivations, as well as their specific talents.??

Gen Z are just starting to enter the workforce amidst the backdrop of rising inflation, student debt, housing crises, a global pandemic and recession - and it’s impacting how they engage in work. McKinsey reported that employed Gen Zers are more likely to say that the pay they receive for their work does not allow them a good quality of life and are less likely to report feeling fairly recognized and rewarded for their work. It’s no surprise then that a remarkable 77% of Gen Z respondents reported looking for a new job.??

They also feel less financially secure, with nearly half concerned about the stability of their employment and are less likely to report being able to cover living expenses for more than two months if faced with job loss.?

If Gen Z are feeling underpaid, undervalued and generally more pessimistic about the stability of their future, then what can we do to help combat this and attract them to the events industry??

Attracting Gen Z Talent?

The events industry has historically not been one that pays highly; however, it offered other perks such as international travel, a fast-paced, dynamic environment and the opportunity for people to grow their careers relatively quickly.???

These additional perks seem to have somewhat disappeared, but even when offered, it is arguably no longer enough to attract the best of Gen Z.?

In terms of what Gen Z want from their work, they value stability and flexibility in their roles, structured progression and importantly, want to be paid enough so that they can have a good standard of living (PwC). They are also actively pushing back on the behaviours that can make the workplace a toxic environment, such as long hours and lack of boundaries between the professional and the personal – something that has been common in the events industry. Many have watched their parents experience burnout, economic insecurity and time poverty, which has contributed to their demands. (BBC).?

Gen Z also highly value social causes such as sustainability and DIEB (diversity, equity, inclusion, and belonging) and as such are more likely to want the company they work for to prioritise these and have a clear position on how they are tackling them.?

The world in which Gen Z are entering the workplace, (rising inflation, student debt, housing crises, a global pandemic and recession) adds to the problem and it’s understandable that they are not only going to demand more from employers to combat these pressures, but that they are also willing to move jobs more frequently if their needs aren’t met.??

Many of them will have gone through higher education from home and as such, are much more comfortable working remotely. It’s likely that office culture is one that they have never experienced and so we need to offer them the opportunity to work remotely while also making the office environment attractive enough for them to use and to encourage integration with the rest of the business.??

I am personally a big advocate of working in the office as it gives me the opportunity to interact with my colleagues and creates a divide between my personal and professional spaces, but this isn’t for everyone. ?

The events industry is inherently social so the more we can encourage the new generation of event professionals to engage with the industry via events, the office and other professionally social environments, the better.??

Challenges with Gen Z?

The main perceived challenge of hiring Gen Z in the events industry is dealing with the stereotype of entitlement and low work ethic. There’s the argument that because Gen Zers have grown up in a culture of instant gratification, it has made them entitled, lazy, and lacking the grit and resilience to needed in the workplace, while expecting to be praised and rewarded for minimum effort and unwilling to put in the hard work and sacrifice that success demands.??

However, these stereotypes are not fully supported by data. In fact, Gen Zers, it turns out, are more likely than previous generations to value hard work with the aim of financial freedom. They are also more likely to seek new challenges and opportunities for progression in their jobs and are willing to learn new skills and adapt to changing environments (Pew Research Center).??

Moreover, they have been raised in a world of economic uncertainty and global crises and therefore have a greater awareness of the importance of resilience, empathy, and collaboration. As a result, they are also more likely to prioritize mental health and self-care, which can enhance their productivity and creativity. All of these are attributes that the events industry needs to thrive. ?

What’s the answer??

I think it’s important to meet Gen Zers’ halfway. They’ve grown up in a world of instant gratification and for those just entering the workforce, their expectations of pay, work-life balance and career progression can be a slightly out of touch with what the current Millennial workforce deems as acceptable. However, Gen Z are the future of the events industry and so it's important for us to make it?attractive for them, to support their needs and career goals, otherwise we risk not having an industry at all.??

Businesses in the events industry need to adapt to the changing needs and desires of the available workforce to remain competitive but what's exciting is that there are so many things that we can learn from Gen Z that will improve the way our industry works. They are much more inclusive and their mindset is one that we can adopt to transform our industry in the right way. Becoming more inclusive and divisive can only benefit the world of events. ?

With sustainability, something that is a prominent challenge in the industry, the conversation thus far has been driven by those from a generation where it hasn’t been a top priority. Gen Z, however, have grown up in a world where this is front of mind and as the ones who will be inheriting the world in which we currently live, they have an innate passion that puts them in the best position to help drive sustainable progress. The same can be said for their approach to work-life balance and prioritizing mental and physical health.?

The passion, creativity and entrepreneurialism of Gen Z is a huge asset to the world of events and we will need them?if we want to make progress.?

The events industry is exciting. It’s vibrant. It’s diverse. We just need to put the right structures in place to attract and importantly, retain, the best talent Gen Z has to offer. We’ll be a better industry for it. ?

I would love to hear your thoughts on Gen Z in the events industry. What have you learned from them and what challenges have you face when hiring & retaining young talent? Let me know in the comments or drop me a DM or email - [email protected]