Look out workforce there's a new generation on the horizon. Employers are, hopefully, getting comfortable with the changing hiring landscape that Millennials have cultivated. But not too comfortable. For the first time since Millennials took over the top spot in the workforce, the next wave is coming of age. Gen Z, those born after 1996, are entering adulthood and will be submitting resumes.
The numbers
Millennials are persons born between 1981 and 1996. The Pew Research Center estimated that Millennials surpassed baby Boomers in 2016 and now are the "Old Salts" in the labor force. While Baby Boomer numbers are declining and Millennials are taking the mantel, Gen Z has been sneaking up. Bloomberg estimates that Gen Z will surpass Millennials in 2019 comprising 32% of the world's population. By 2020 they will be the majority in the workforce.
Millennials hit the workforce in such numbers and such differing personalities from Gen Xers and Baby Boomers that they changed the way business was done. Both in marketing and hiring. In order to court new hires from this generation employers had to change practices. The marketing world has gone to great lengths to shape campaigns to attract Millennial customers. A generation literally changed the way business was done. Just as the business world had things were figured out it appears that changes will again have to be made.
Who is Gen Z?
Millennials seemed to get a bad rap in the workforce but by sheer numbers were able to change how business is done. Every generation has its own idiosyncrasies. Technology advanced so quickly over the past thirty years children and grandchildren grew up much differently than their parents and even from each other. Gen Z is the first post 9/11 generation and the first generation in which smartphones are bodily attachments. According to Buzzfeed, here are a few things that Gen Z never heard of or are curious about: Payphones, Floppy discs, VHS and cassette tapes, The phrases-"Roll down the window" or "Hang up the phone", pound sign, pencil sharpener, film or film canisters, Gameboys or game system cartridges. At least some early Millennials may have come across these things or their remnants.
Generational differences
A Cultural trends report by Endeavor Global Marketing lists three major differences between Millennials and Gen Z. Gen Z is described as having non-binary beauty or gender fluid beauty concepts. They are a progressive foodie culture in which stories are part of the experience. The report says, "Expect to see a shift from photogenic, Instagrammable, food to the emergence of the stories of those behind the dishes". Gen Z will expect a more connected theater experience in which shows are releasing soundtracks early and streaming shows which generate more viral interest.
According to Inc.com, Gen Z prefers conversation to mass communication. Instead of being absorbed in social media they are more interested in quality, personal relationships. While Gen Z is less interested in their friend count, they are interested in getting their news via social media or the Internet. Compared to Millennials Gen Z is more interested in entrepreneurship.
Hiring Gen Z
What does all this mean to employers and hiring? Knowing what is coming next and how to adjust. Just as you know the qualities you are looking for in an employee you need to know what qualities the employee pool has to offer and is expecting. As you and your business age, the hiring pool is getting younger. Gen Z has aged in a different time from Millennials. Knowing about what will soon become the largest generational workforce is how employers will attract and retain employees.
Concordia University-St Paul released a study on what to expect from Gen Z in the workforce. Gen Z tends to be more like their grandparents when it comes to privacy and practicality. As mentioned, they have never known life without a digital connection at their fingertips. They are multitaskers, using on average of five screens. They believe that social media is a big part of their lives but crave more personal relationships and worry that social media erodes this. They are frugal shoppers and distrust big brands. 35% plan to start retirement savings in their 20's.
The study continues with an assessment of Gen Z in the workplace. This generation is hard working. They are deeply driven by security and are motivated by salary and health benefits. They are willing to put in the extra hours if they are rewarded for it. They prefer to work independently and value skills and self-improvement. They feel that they are responsible for driving their own career. They view technology as a tool. They want to be coached and trained.
There you have it. Everything you need to know about hiring the perfect young candidate and providing them with a long and successful career. Well, not everything. But it's a good jump on knowing who will be sitting in your interview chair. The point is, there is so much more than just putting up the Help Wanted sign. Knowing your candidates will go a long way in making the proper hire and saving everyone a lot of headaches.
More blogs on generations and the workplace at https://mazzellainvestigations.blogspot.com/search/label/millennials
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