31 October 2023

Gen Z to a T

Gen Z is growing up. Born between 1997 and 2012, the youngest Gen Zers are in their teens, inhaling TikTok cats, YouTube stunts and Snap chats, while the older members are now in their mid-twenties. Other generations can’t agree on a label for these digital natives. Nihilistic? Snowflakes? Cynical? Pragmatic? Whatever you think of them, they make up 25% of the world’s population. And by 2025, they’ll comprise nearly one-third of the workforce. So, businesses and team leaders need to understand them.

Gen Zers have lived through the pandemic, climate change and a widening wealth gap. Which might be the reason behind their YOLO approach to life. An American study by Intuit showed that retirement saving is less important for Gen Z than for Ys, Xs and Boomers and that achieving a work-life balance is their top priority.

You won’t find them sharing their best selves on Facebook, but 50% get their news from social media. They look for jobs, partners and discussions in different ways to their Gen X bosses. This generation has new rules and new priorities. And forward-thinking businesses are already looking at how to attract the best new talent.

Let’s look at what’s important to Gen Z.

Values

Gen Zers are looking to work for businesses with values that align with their own. They won’t stand for tokenism — instead, they expect companies to walk the talk.

Transparency

This generation wants clear roles and salaries. In fact, 78% of Gen Zers find a lack of transparency as their number one frustration. This new transparent trend is appearing on recruitment sites such as Stevie, where wages are always advertised.

Balance

Whereas Gen X drove themselves into the ground with unpaid hours, Gen Z won’t feel the same obligation. They don’t necessarily need to find work fulfilment, but a healthy work-life balance is essential.

They’re also looking for:

• opportunities to grow and thrive
• experiences over wages and possessions — more than 73% rate quality of life over money in the bank.
• the next job (this generation is always looking ahead).

While some of these characteristics are confronting at first glance, there’s much potential to be harnessed. Their entrepreneurial spirit and online community-building skills can establish new business relationships. And offering clear advancement pathways will encourage more prolonged engagement.

Can your team adapt? Can you provide flexibility, enhance your transparency and deliver personal fulfilment? If so, you’re positioning your team ahead of the pack by attracting the best of Gen Z.