By 2025, Generation Z will make up about 27% of the total workforce, according to the World Economic Forum. Therefore, it’s in many companies’ best interest to quickly understand what this generation values, find out what they are looking for in an employer, and implement that within their organization, fast. Here are five tips you can consider when thinking about adjusting your hiring strategies and company policies for this new wave of workforce talent.
They Use Their Phones to Apply
It’s no secret that we are on our phones more than ever, but this is especially true for Gen Z, who have never known a world without the internet and smartphones. According to Yello, “46% (of Gen Z) have applied for a job on their mobile device, and 54% won’t complete an outdated application format online.” This means that your UX design for applications needs to be simple, comprehensive, and made-for-mobile. Not having these elements will result in high drop-off rates in the application cycle of your jobs.
They Believe in Job-Hopping
Contrary to past generations that have historically valued company loyalty, Gen Z plans to learn all they can from one organization and move on to continue growing in their career. “55% plan to work for their current employer for less than three years.” Therefore, it’s important for companies to address this trend after the 1st and 2nd year of employment and not ignore it. If there’s a chance that a person has the ability to move up within the company or to another division, that should be discussed and encouraged in order to retain Gen Z. You can bet that if you don’t have the growth they are seeking, they will move on to a company that does.
They Want Benefits That Matter
It feels like a lifetime ago that an office that had a gym and a ping pong table was deemed trendy and forward-thinking. Now, Gen Z is not as concerned with recreation or downtime at the office, rather a financial investment in their future. However, stock options and a standard 401(k) won’t cut it when they are actually searching for “student loan assistance, tuition reimbursement, and maternity and paternity benefits.” This generation values a work-life balance and is highly optimistic for the future, so these types of benefits will not only attract but also encourage them to stay and take advantage of these opportunities.
They Want to See Diversity and Inclusion
This highly educated, highly diverse generation is craving a passion and dedication to diversity and inclusion from their employers. As a result, “86% of Gen Z job seekers cite a company’s commitment to diversity as an important factor in deciding whether or not to accept an offer.” Here it is very important for a company to talk the talk and walk the walk. Diversity and inclusion cannot just be a phrase in your company’s mission statement or a committee that meets once a quarter. This dedication needs to be seen in initiatives like asking one’s pronoun preference, adequate accommodations for those who are differently-abled, policies to ensure fair and equal pay, etc.
They Want an Offer, and They Want it NOW
Standard HR procedures make it difficult to establish a hiring committee and follow the correct protocol when extending an offer. Gen Z wants no part of that. They feel if it’s a right fit, the offer should be made. “Nearly one in five Gen Zers expect a job offer one week from the initial phone screen. The majority expect an offer within two weeks.” Whether this expectation is realistic or not, companies that make an actionable change to speed up their hiring process will win top Gen Z talent.
*Statistics pulled from Yello