Many firms will need to re-evaluate their recruitment procedures and practices as more baby boomers enter retirement and sights are set on new graduates entering the workforce. We are witnessing a new set of priorities for those who were born after 1997, or ‘Gen-Z’ as they are dubbed, and businesses must keep up with these changes or risk missing out on the best talent from this younger generation.
Despite the fact that the focus for most professionals is shifting from financial to non-financial perks, Gen-Z’s requirements are unique. It has become increasingly apparent that the demands of this generation are disruptive, from flexible hours to hybrid working and a greater focus on work-life balance and purpose. However, despite the expectations around flexibility and ways of working, we have found that Gen-Z candidates still want a fantastic social culture and learning environment in their workplace. This is key to attracting and retaining Gen-Z talent.
Many graduates nowadays not only prefer hybrid work but expect it. With COVID-19 as a catalyst, long gone are the days in which hybrid working was just a dream. A strange reality is that for many first time employees, the hybrid or remote way of working is all they have ever known or experienced. The benefits of hybrid working are obvious and have been well documented over the last couple of years, allowing for greater work/life balance, shortening or eliminating commute times, and increased productivity for many employees. A good work/life balance has proven to be more and more of a expectation for Gen-Z. With flexible hours, Gen-Z aims to sign on and off in a way that suits their lifestyles, and many other generations have also seen the benefit of this.
These graduates were brought up with technology and are digitally literate, therefore,
ensuring that they are targeted online is crucial for businesses. In fact, many won’t consider submitting an application if the application process is not online. The Gen-Z workforce understands the value of building a personal brand online, with many creating online profiles to showcase their achievements. Ensuring that your brand is easily found online and is fully developed is important.
And, as they are a digitally focused generation, there is a benefit to employers developing innovative tech solutions to streamline the hiring process of new graduates. For example, mobile-friendly solutions ensure that Gen-Z candidates can apply for jobs from anywhere, at any time, from any device. Gen-Z is used to instant communication, and waiting more than a week for a response to a job application simply won’t cut it. Similarly, when it comes to the interview, ensuring that there is a hybrid option is vital.
In addition to these freedoms, a growing number of companies in all sectors are noting the importance of being good global citizens for employees. An increasing number of employees are subscribing to the concept of Corporate Social Responsibility, taking action on ESG and equality, diversity, and inclusion within their companies. For example, a survey conducted by Ipsos for the BBC found evidence that Gen-Zers were far more concerned about prejudice towards minorities than older generations were. Many are committing to being carbon neutral in five or ten years, while others are pledging to do all they can to ensure they are attracting a more diverse staff. For many new entrants to the workforce, a company with a purpose can be more important than the salary they’re being offered.
Understanding this new generation is vital for employers. Recruitment should take a
long-term and consultative approach, operating on the basis that relationships are the driver of lasting, sustainable success and growth for the business. The current transactional approach of agency recruiting is no longer fit-for-purpose for today’s innovative and ambitious companies, and savvy employers are increasingly accommodating such a shift in focus to both retain and attract talent. Those that fully embrace this disruptive new wave of graduates, throughout the workplace, will ultimately build a morally conscious, diverse, and dynamic organisation.
The War for Talent is not to be underestimated, and this new workforce holds many of the cards. A recent survey from Adobe found that Gen-Z were the primary drivers of the Great Resignation, and this turnover is now being felt by many companies.
It is currently a spiky time for many businesses, with the cost of living crisis continuing to bite across the UK and Europe, and the tech sector being hit with a long list of redundancies in recent weeks. While a challenging time, there is much new and exciting talent that should be won by those looking to employ. Employers who are recruiting know what they need to do to make their efforts fruitful and impactful for their business goals, and to ultimately win the Talent war.
