12 May 2023
The Future of Work Series: Hiring Young – Attracting and Retaining Gen Z Talent
The job market has always been competitive, but with the rise of Gen Z, the youngest generation to enter the workforce, employers are facing a new wave when it comes to attracting and retaining talent fresh out of school and university.
Gen Z, born roughly between the mid-1990s and mid-2010s, is the most diverse generation yet, and its members hold markedly different expectations and values compared to their predecessors. As a result, employers need to rethink their recruitment and retention strategies to ensure this new, rapidly-growing generation of workers with valuable skill sets are incorporated into their teams.
Attracting Gen Z talent requires employers to understand their unique needs and preferences. Research shows that Gen Z values a sense of purpose, flexibility and room for growth. A high percentage of Gen Z workers state that they would take a pay cut to work for a company that is focused on career growth and is socially responsible. Additionally, Gen Z is more likely to attach higher value to work-life balance and have a preference for remote work and flexible schedules.
To attract Gen Z talent, employers should highlight their company’s mission and values, as well as any initiatives currently implemented that directly enforce those values. Additionally, offering flexible work arrangements and opportunities for career development can also make a company more attractive to Gen Z candidates.
However, attracting Gen Z talent is only half of the battle – retaining them requires a different set of strategies. One of the key factors in retaining Gen Z employees is offering opportunities for growth and development. At the start of their careers, this generation is ambitious and values opportunities to learn and advance in their careers. Employers can offer training programs, mentorship opportunities, and regular feedback to help Gen Z employees grow in their roles.
Another important factor in retaining Gen Z employees is providing a positive work environment. This generation values diversity and inclusion and expects their employers to do the same. Employers can create a more inclusive work environment by promoting diversity and offering employee resource groups, training, and equal opportunities for advancement.
Lastly, employers can retain Gen Z employees by offering competitive compensation and benefits packages. While Gen Z values a sense of purpose and social responsibility, they still expect to be compensated fairly for their work. Offering competitive salaries and benefits can help employers retain their Gen Z talent.
In conclusion, attracting and retaining Gen Z talent requires a shift in recruitment and retention strategies. Employers must understand Gen Z’s unique needs and preferences and adapt their practices accordingly. By offering a sense of purpose, flexibility, opportunities for growth, a positive work environment, and competitive compensation and benefits, employers can attract and retain young talent and build a strong workforce for the future.