In the context of economic fluctuations in recent years, a new “wave” of talented employers is rapidly making an impression. Generation Z (Gen Z) – those born between the mid-1990s and the early 2010s – has largely entered the workforce, bringing fresh perspectives to the table. Regarded as the most proactive generation on the planet, they are always seeking new opportunities for learning and personal development. Growing up in the age of technology, smart devices, and high-speed internet, but encountering the COVID-19 pandemic in the early years of their careers, Gen Zers always aspire for more compared to previous generations.
To successfully compete in the era of new employment, businesses and organizations need the ability to attract, engage, and retain employees from this generation. This requires an understanding of the world in which Gen Z has grown up, their concerns, desires, as well as what they are seeking in their careers. In this article, Tiktak Coworking Space will explore the prominent characteristics of Generation Z and how companies can successfully attract them.
Definition of Gen Z
Generation Z (Gen Z), Gen Zers, or Zoomers are the next generation after Millennials. Although there is much information about the boundaries between generations, generally, we accept that members of this generation were born from 1997 to 2012, followed by Gen Alpha (2013+). According to research, there are currently about 2.6 billion Gen Z individuals worldwide, equivalent to nearly a quarter of the global population. In Vietnam alone, approximately 15 million Gen Zers are in the working age group, accounting for nearly 25% of the country’s workforce. Known as the first generation to grow up with access to the internet and digital technology from an early age, Gen Z is also known by other names such as iGeneration, Homeland Generation, Digital Natives, Neo-Digital Natives, Internet Generation, Net Gen…
What Gen Z Wants in the Workplace
Employee Benefits
70% of Gen Z employees state that salary and benefits are the most important factors for them in a job. This is the answer for the majority of the workforce, and this requirement is even lower compared to other generations. Gen Z tends not to trade their personal lives for any job just for income. They often care about benefits as well as transparency and commitment in terms of salary. In times of economic turmoil like today, issues related to income and benefits need to be clear and meet the needs of employees. This is a crucial factor that recruiters need to pay attention to.
Career Opportunities and Clear Career Paths
71% of Gen Z employees surveyed desire to be able to advance in their careers within 6-18 months. Gen Z is known for their entrepreneurial spirit and always seeking a sense of ownership in their work. They are more practical, and concerned with stability and career advancement compared to the previous Millennials. They often want to undertake independent projects to maximize their skills. 20% of Gen Z respondents said they would work for a company that offers skills training programs for employees. This means that Gen Z prioritizes employers who provide them with many opportunities to learn, upgrade, and develop themselves in their careers. Along with that, a company with a detailed and clear career advancement plan is also something that Gen Z is looking for. Gen Z is and will soon become the main workforce in the future, so this need is very important to them.
Flexibility in Work Ensuring Mental Health
For Gen Z workers, flexibility in work is the key to retention. High autonomy makes them tend to prefer flexible or remote work rather than fixed schedules and clear hours like traditional ones. Up to 75% of Gen Z employees surveyed support this view. Gen Z grew up in an era where mental health is a top priority and they have a higher awareness of their biological health. They always expect employers to provide flexible or hybrid work methods, along with policies on the number of working days per week/month to balance work and life.
Company Culture and Community Connections
Company culture and good relationships among colleagues play an important role in retaining talent. New Gen Z employees tend to collaborate, connect, and socialize. Moreover, Gen Z prioritizes joy, happiness, and comfort in work. Gen Z is also a positive force driving the company’s culture. Establishing a modern, fair, friendly, and community-oriented company culture early on will make a strong impression on the Gen Z workforce.
Modern, Sustainable, Creative, and Technology in the workplace
Gen Z is too accustomed to internet access, technology, and digital platforms. Working in traditional offices with outdated equipment is an undesirable experience for them. Most Gen Zers will decline a job offer if the office equipment does not meet their work needs. This is understandable and empathetic considering that work time is a significant part of one’s day. Grasping technology trends, modern office design trends, green and sustainable practices, and fostering creative inspiration are priorities for recruiters and should be invested in from the beginning. Expanded spaces such as relaxation areas, gym facilities, coffee areas, and reading spaces are also of interest to Gen Z in their workplaces. Turning to coworking spaces like Tiktak Coworking Space is a good solution to address this issue.
What Needs to Be Done to Attract and Retain Gen Z Employees?
To attract and retain Gen Z employees, businesses need to understand and continuously update the unique characteristics of this group of employees. One of the important factors is to create a diverse and positive work environment in terms of culture, work, and experience. Technology plays a crucial role in the lives of Gen Z, so providing advanced technology and a flexible, digital work environment will be an attractive factor. Businesses should promote innovation and creativity through technology, as well as provide remote work opportunities, which not only help attract but also retain Gen Z employees. Personal development and career advancement opportunities are another important aspect. Gen Z often seeks environments with continuous development and advancement opportunities. Companies can provide training programs, and mentorship, and clearly define advancement opportunities to retain employees and encourage long-term commitment. Company culture also plays an important role in creating a positive work environment for Gen Z employees. In addition, social activities, charity events, and social work can stimulate community spirit and create a positive, friendly work environment. Gen Z often seeks jobs that bring value and meaning to the community. Businesses can establish impactful projects and activities to attract and retain Gen Z employees through common missions and goals. By focusing on these strategies, businesses can build a conducive and attractive work environment for this promising group of employees./.