Generation Z, those born between 1995 and 2010, is often unfairly depicted as entitled, disinterested in work, and difficult to work with. However, this portrayal doesn't do justice to this generation, as they are set to become a significant part of the workforce. By the end of this year, Gen Z will surpass Baby Boomers in the U.S. workforce, and by 2030, they are expected to make up about 30% of all U.S. workers.
### Mature Outlook and Priorities in the Workplace
Contrary to popular belief, Gen Z possesses a mature long-term outlook when it comes to work. They emphasize the importance of upskilling, retirement benefits, stability, security, and wellness. While they are willing to work hard and be go-getters, they expect a new standard of employer support to help them achieve their personal and professional goals.
### What Employers Should Know About Gen Z
Based on the findings from Handshake's annual survey of this year's graduating class and new research on emerging talent with SHRM, here are four crucial things employers should know about Gen Z:
1. **Retirement Benefits and Stability Are Key:** Despite their early career stage, Gen Z prioritizes retirement benefits and job stability due to the financial challenges they witnessed their parents face during the Great Recession and the global pandemic. They expect to work well into their 60s to manage student loans and mortgages. In fact, the majority of emerging professionals consider guaranteed hours or job stability as very important factors when evaluating job opportunities.
2. **Success Defined by Skill Development:** Gen Z defines success by the skills they develop. They consider learning and developing advanced skills as essential in their careers and value opportunities for skill development over traditional benchmarks such as a high salary or advancing to a senior role.
3. **Preference for Flexible Workplace:** The COVID-19 pandemic has emphasized the importance of a flexible workplace for Gen Z. They seek a mix of remote and in-person work and value flexible schedules, with nearly 90% considering them essential or important. Achieving a sustainable work-life balance is their number one definition of career success.
4. **Alignment of Values:** Gen Z desires their employer's values to align with their own, and they prioritize corporate activism but don't necessarily expect their employer to lead the charge. They want their employers to acknowledge social issues and support causes they care about, but they don't demand public pronouncements about social issues from their employers.
### Standing Out to Gen Z
Employers can stand out to Gen Z by offering role-specific skills courses, tuition reimbursement, and personal time off for learning. Building a supportive and flexible workplace, aligning with their values, and investing in the long-term well-being of their employees are critical strategies for attracting and retaining Gen Z workers.
In conclusion, Gen Z is not the generation they are often portrayed to be. They are driven, ambitious, and focused on their long-term well-being. To succeed in the coming decades, companies need to adapt to the preferences and priorities of this upcoming generation of workers, as this investment will ultimately benefit the entire workforce.