Gen Z Employees: Tips To Attract And Retain Your Young Talent
21st March 2023
Research reveals that 76% of Gen Z workers take full responsibility for their careers while 58% are willing to work overtime and 70% consider salary as their top priority.
Besides, money and benefits are not the only things that are driving this generation as 74% confirm that purpose is more crucial than a paycheck. Generation Z, or Gen Z, is the demographic cohort born between the years 1997 and 2012. This group is the newest addition to the workforce and has quickly become a critical target for employers to attract and retain. Gen Z employees bring a unique set of skills, values, and expectations to the workplace. Understanding these traits is essential to create a work environment that fosters retention.
In this article, we'll explore the key factors that influence Gen Z employee retention and what managers can do to ensure their younger employees stay with their organization for the long term.
Ways To Retain Gen Z Employees
Generation Z workforce is talented and creative and has too much to offer to an organization. That being said they have high standards and high expectations from their office hence it is even harder to keep them around.
Here are 8 ways you can reduce the attrition rates of Gen Z employees:
- Offer Purpose And Fulfilment
Unlike previous generations, Gen Z values work that gives them a sense of purpose and fulfillment. They seek work that aligns with their personal values and beliefs, and they want to make a positive impact on society.
Managers should aim to create a workplace culture that values purpose and empowers employees to contribute to the greater good. This could mean providing opportunities for volunteering, supporting local charities or causes, or incorporating corporate social responsibility initiatives.
- Foster Entrepreneurial Opportunities
Gen Z employees are ambitious and want to continue learning and growing professionally. Providing regular opportunities for professional development can help managers retain Gen Z employees.
Managers should focus on creating an environment that fosters growth, such as offering training programs, mentorship opportunities, and regular feedback and performance evaluations.
- Promote Flexibility
Gen Z employees prioritize work-life balance and want flexibility in their work arrangements. This could mean offering flexible hours, the ability to work from home, or unlimited vacation time.
By providing these flexible arrangements, managers can help retain their Gen Z employees by accommodating their needs outside of work.
- Make Them Feel Cared For
Gen Z employees crave feedback and recognition for their work. Managers should provide regular feedback and recognition for accomplishments and milestones. This could mean acknowledging a job well done in a team meeting or offering praise in a one-on-one setting.
By showing appreciation, managers can create a positive work environment that fosters employee loyalty and retention.
- Adopt Diversity And Inclusivity
Gen Z employees value diversity and inclusivity in the workplace. Managers should strive to create an environment that welcomes and respects differences and promotes a sense of belonging for all employees.
This could mean implementing diversity training programs, celebrating cultural holidays, and actively recruiting candidates from diverse backgrounds.
- Embrace Digitalization And Innovation
Gen Z employees are tech-savvy and expect to work in an environment that values and utilizes technology and innovation. Managers should aim to provide the latest tools and technologies to help their employees work more efficiently and effectively.
This could mean providing software and hardware upgrades, adopting new technologies, and offering training programs to ensure that employees are equipped with the skills they need to use these tools effectively.
- Competitive Compensation And Benefits
Although Gen Z employees value purpose and fulfillment, they also expect competitive compensation and benefits. Managers should ensure that their compensation and benefits packages are attractive and competitive in their industry.
This could mean offering bonuses, health and wellness benefits, and other perks that appeal to younger workers.
- Promote Work-Life Balance
Most of the Gen Z workers believe that they have no clear start or end working time due to remote work and express that those changes made them think about their work even after working hours. Even though remote working has brought flexibility the new demographic feels that it has blurred the lines between working and non-working hours.
This is something that the new age workers are not very fond of and hence they avoid employers who keep pressurizing them outside work or office hours especially disturbing their work-life balance. So, if you want to retain your employees establish strict work hours and make it clear that after-work communications are not necessary. Intervening when managers overwork their employees can also create a culture of work-life harmony.
Gen Z Takes Work, But It Is Worth It!
Retaining Gen Z employees requires a new set of strategies that cater to their unique values and expectations. This is because they grew up during the global recession and rapid digitalization. Thus, they are children of great change and hence have a unique outlook both towards life and work. They bring abstract thinking, discipline, and creativity to the workplace and just expect fair treatment in return.
While Gen Z workers are ready to solve the problem with out-of-box thinking and their approach is very head if you embrace them, your organization will be prepared for future work. However, if you are worrying about approaching them and fear recession, consider pursuing a Train the Trainer course to be prepared.Written By: Sonal Agrawal