Insights into the forces shaping our industry.
GEN Z -The Purpose Generation
I attended a recruiting conference recently and a presentation on Gen Z’s stuck with me. As our clients are struggling to hire, they should be planning for their future employees and a large portion will be Gen Z’s
Gen Z includes people born between 1997 – 2012 so roughly ages 10 – 25. According to the magazine Fast Company, Gen Z’s will comprise 30% of workforce by 2030. Gen Z’s are the largest, most diverse and inclusive generation ever and they wear it as a badge of honor. Because of the Pandemic, many of them didn’t get to go to their prom, graduation, sporting events and weren’t on campus for college, which made them resilient. They are extremely tech savvy and their spending power is estimated at $360B.
Gen Z is very purpose driven. They prioritize purpose over profits. They will research a company before they buy from them to make sure the company aligns with their values. They don’t want to buy your brand, they want to join it and immerse themselves in the company.
When Gen Z’s choose a company to work for, the company’s culture is of utmost importance. They value companies that prioritize diversity and inclusion and make them feel like they belong. Gen Z’s crave engagement and experiences and being a part of a community.
The things that are most important to them are:
- Mental health
- Physical health
- Financial wellness
- Professional development
They don’t live to work; they work to live and they are looking for work / life harmony. They work hard but it’s not about how many hours they put in; it’s about working smarter. They want a company that values their work and ideas. They prefer a hybrid work model, where they can go into an office 1 – 2 days a week to build a connection with their colleagues.
TikTok is their most popular social media platform, followed by Instagram and then YouTube. They are finding jobs on TikTok! 50% of Gen Z is on LinkedIn, 28% is on BeReal. They love emojis, gif’s, meme’s and bitmojis. They also love audio content, especially music and podcasts, where they can listen anytime.
Companies need to engage Gen Zs’ entrepreneurial mindset and set up incubators where Gen Z’s can discuss new ideas for the company. Gen Z’s want to be engaged with the companies they work for and setting up mentorship programs helps with that engagement. Create communities for them to be a part of and engage with different departments in the company, such as book clubs, running clubs, etc. Also, make sure your company prioritizes mental health and offers mental health days (we’re starting to see companies offering 1 mental health day a quarter). If you want to grow and bring in new talent you have to engage and show them that you and your company care.