Gen Z in the Workplace: What should companies pay attention to the most?

Let's be realistic that today's generations are entirely different from those from 5 years ago. This is because Gen Z is now about to change the world. For us in AIESEC in Denmark, over 70% of our members are Gen Z, and the rest are millennials. The needs of Gen Z members are different compared to what millennials needs.?

According to the U.S. Bureau of Labor Statistics, Gen Z will make up a third of the workforce by the decade's end. It's currently 2022, and already, they are making their way into the workforce, taking up positions and all kinds of roles. With this new development, what do companies pay attention to the most as they employ this young generation?

For starters, who are these Gen Zs that we hear about on television and read about in articles? Short for Generation Z, Z stands for 'zoomers.' They refer to the people born between 1997 and 2012, the generation succeeding the Millenials. According to Deloitte, with more than one out of three of the world's population counting themselves as Gen Z, they will soon surpass Millenials as the most populous generation on earth. Going by that, companies must know what sets this generation apart from others because soon, this generation will flood the workforce, and companies must know how to work with them.

This digital savvy, assertive, and career-driven generation is vastly different from its predecessors, the Millenials. Having been wrongly tagged 'entitled,' they have proven this to be an untruth by their ability to work independently, often juggling multiple jobs while continuously learning and improving their skills. Financial rewards and potential career advancement serve as their driving force, with mental health and emotional well-being serving as a significant source of concern. Constituting the youngest members of today's workforce, they have seen how older workers have fared in the workplace and will not settle for the same experience. While many of these values were merely preferences for the Millenials, Gen Z has them as expectations and boldly demands them. They know what they want, are verbal about them, and are willing to keep job-hopping to get it.?

Fair Pay and Financial Rewards

This generation of young people is nothing short of bold about how they should be rewarded, recognized, and motivated. According to a U.S. job site, CareerBuilder, the number one priority of Gen Z workers is higher pay. Basically, their work needs to be financially rewarding, and they need to be adequately compensated for the work they do. They are more about their salaries than the generation before, and they are ready to put in the work. This is mainly because they desire security and value for their work. A large number of them even shuffle multiple jobs to keep the money coming in. According to McKinsey, Gen Z is 25% more likely to work various jobs than the average professional (16%).?

If they are not well compensated for their work, they are ready to jump onto the next job offering better pay. After all, many of them are equipped with skills they have learned on the internet, and they know there's no shortage of jobs.

Opportunities for Growth

Gen Z is not all about money alone. They value skill development and self-improvement, and they desire to be able to acquire new skills and knowledge within the workplace. Therefore, they will only stick with a job that invests in them. That accounts for most of their job-hopping, where the idea is to upskill in their next role. According to the National Society of High School Scholars (NSHSS), 67% of Gen Zers wish to work in companies where they can learn skills to progress in their career.

In the workplace, they expect to be presented with opportunities for training, professional growth, and mentorship. Their highly ambitious nature makes them quick to leave any job that does not offer these opportunities to steer them toward their goal, thereby slowing their career progression and stifling their growth process.??

Contrary to the opinion that this generation is quick to say their goodbyes to a job that does not offer good pay, if they are offered an opportunity to gain skills that advance their career, they will stay put and dedicated. This need to constantly upgrade their skills to enrich their career path mainly influences their decision-making.?

According to LinkedIn's Workplace Confidence Survey, 40% of Gen Zers are willing to accept up to a 5% cut in their salary for a role that offers better career growth. This shows how invested they are in their professional development.

Flexibility and Work Benefits

Flexibility in the workplace refers to atypical forms of work in areas such as working hours, work location, and dress code. With priority placed on their mental health, Gen Zers are determined to fit work into their life rather than the other way around. They expect some level of freedom to enable them to live outside of employment. Therefore, they continue to push forward the need for work-life balance.?

Flexibility ranks high on their list of priorities in the workplace. According to Axios, Gen Z is 77% more likely to click on a job opening in which "flexibility" is mentioned than one in which it is not. Flexible work life fosters the relationship between an employee's professional work and personal life. In order to avoid burnout, they prefer opportunities that consider their mental health and general wellness. At home, with the work-from-home culture, there is a high demand for remote work, and they are settling for a hybrid workplace which is a mix of remote and in-office work. Remote and hybrid work boost their productivity and remove those things threatening their stress level and mental health. According to Skynova, 1 out of 5 Gen Z have not worked from the office but only worked from home.?

With remote work, paid time off (PTO) is relatively easy since employees do not need to come to work every workday. Dress code, on the other hand, they would prefer casual and comfortable any day.?

Some benefits could make this generation stick to a particular job. Asides from PTO, some of them could include illness insurance and wellness initiatives.

Diversity, Equity, and Inclusion

This new generation to come into the workforce are the most accepting generation, and they are at home in a diverse environment. They are no less than 8% more diverse than any generation that has come before. Findings from a survey done by Tallo revealed that 69% of Gen Zers would more likely go for a job that reflects an ethnically and racially diverse workforce. This is clearly understandable, given that they stand as the most racially diverse generation.??

Another survey revealed that 47% of Gen Zers identify as Black, Indigenous, or people of color (BIPOC). This explains their demand for diverse and inclusive workspaces. The diversity here not only pertains to race, as they are also the generation that accommodates the most LGBTQ people. They advocate for an inclusive work environment that welcomes all forms of identity where all workers feel free to be themselves. They never stop advocating for diversity, equity, and inclusion (DE&I)

Technology and Speed

Gen Z has been referred to as the true digital natives. A large percentage of them were born to meet most of the technology we have today. Even the oldest ones can still be said to have grown up with smartphones, social media, and the fast-paced internet. Having been exposed to a fast-paced digital life, they need more time for time-wasting methods. Their productivity depends heavily on technology, and it would be incredibly challenging to work with traditional methods. 80% of this new cohort of workers aspire to work with cutting-edge technology, according to a research study from Dell Inc., and what they expect in the workplace is communication channels that are fast and easy to use. Technology is practically an indispensable part of their lives.?

Generally, they want to be listened to, and their concerns heard. As they move into the labor market in their numbers, companies must consider their expectations and try to adapt to their needs.?

In AIESEC, we understand what our members need, especially Gen Z and Millennials. Suppose your company or organization is looking for talent-sourcing solutions, especially to seek young international talent for your company or young volunteer for your organization's cause. In that case, AIESEC is here to help you to find the best candidates for your needs.?

Our Global Talent program is designed to connect companies with our young talented people worldwide to fulfill your business needs with international students and recent graduates, while our Global Volunteer is designed to support NGOs delivering impact by bringing youth volunteers to social impact projects in your local that contribute to the Sustainable Development Goals.

Are you interested in talent sourcing with us? Contact [email protected] for more information about it.

This article is written by Philomena Enob Aseme, a Blog Writer for AIESEC in Denmark.

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