BEWARE MILLENIALS, GENERATION Z IS HERE!
Who are Generation Z?
Generation Z is the generation that comes after Millennials. They are called the "Throw Back Generation" since they are expected to reverse some of the Millennials expectations and behaviors in the workplace. They were born after 1995.
Generation Z like all generations, has its own unique events and conditions that shape them, resulting in different behaviors and expectations at the workplace.
Global Consulting Firm Accenture and the Society For Human Resources Management has published studies from which we include a summary of the findings.
Main Contrast between Millennials and Generation Z:
- While Millennials were mostly raised by optimistic self-esteem building Boomers, most Generation Z were raised by tough-love, skeptical gen Xers.
- Generation Z were told that they were losers and winners. This is a contrast to the Millennials who were told constantly that they were always winners and very special.
- Millennials loved open shared workspaces for collaboration. Generation Z may prefer workplaces more in line with Generation X and Boomers preferences in order to accomplish goals on their own.
- Generation Z grew up during the Great Recession, contrary to Millennials who were raised by boomers many with high economic capacity which created very high expectations from employers.
- Millennials main concern was to have flexibility and purpose at their job, while Generation Z main concern is job security and pay.
- Most Generation Z chose their profession based on job availability vs Millennials who were told to study and look for work on whatever they liked the most.
- Generation Z feel lucky to have the job, while Millennials felt that employers were lucky to have them.
- Generation Z is expected to be more competitive, something that Generation X and Boomers may relate more to. They are more independent and want to be judge on their own merits.
- Generation Z is the first true digital native generation. This make them very resourceful, also creates challenges. They are not the most patient generation.
- They expect to stay longer at the companies than millennials.
- Generation Z prefer large employers similar to Gen X and Boomers. This may represent a challenge to small employers which some Millennials preferred.
- Total Rewards - Review your total rewards strategy to incorporate some of the preferences of Generation Z.
- Cross Train - Provide opportunities to work on projects outside their area of work within the company.
- Plan for Growth - Create a development plan for new hires and follow through it.
- Coaching - Assign coaches to incoming employees. Provide guidance and feedback on a constant basis.
- Consider a specialized recruiting firm - Contracting a recruiting company that specialize in recruiting professionals and stay up to date with the latest trends may be critical to accomplish your goals.
Contact us at:
Society for Human Resources Management Gen Z Publication
Accenture Gen Z Study
Disclaimer: The information presented above is for information purposes only and do not represent legal advice. Before making any decision you should consult your own legal advisor.