The labor market is on the brink of a significant shift as Gen Z enters the workforce.
By 2025, this group is expected to make up 27 percent of the workforce, and their unique characteristics will undoubtedly impact the way businesses operate.
For businesses to attract and retain the next generation of workers, it’s essential to understand what motivates and drives Gen Z employees.
Let’s explore the impact of Gen Z on the labor market and how businesses can tailor their strategies to attract and retain these new entrants to the workforce.
7 Strategies to Attract and Retain Gen Z Employees
74% of Gen Z workers would quit a job that didn’t align with their values. It’s time for businesses to adapt to the changing workforce and embrace the opportunities Generation Z presents.
Here’s what businesses should do to attract and retain gen z employees.
1. Understand the values of Gen Z
The first step in attracting and retaining Gen Z employees is to understand their values. Gen Z is a generation that values social responsibility, diversity, and inclusion. They are more likely to choose employers who align with their values and are committed to making a positive impact on society.
To attract Gen Z workers, businesses must demonstrate their commitment to social responsibility and diversity. This can be achieved through initiatives such as sustainability programs, community involvement, and diversity and inclusion training.
Learn more about how businesses can effectively boost gender diversity in tech job roles with innovative talent strategies.
2. Provide opportunities for growth and development
Gen Zers value continuous learning and development. They are eager to acquire new skills and knowledge and are more likely to stay with an employer that offers growth and development.
Businesses must provide Gen Z workers access to training and development programs, mentorship opportunities, and career progression paths. This will not only help retain Gen Z employees but also ensure that they have the skills and knowledge needed to drive the business forward.
3. Embrace technology
Generation Z has grown up with technology and is comfortable using it to solve problems and improve productivity. Businesses that fail to embrace technology risk losing Gen Z workers to competitors who offer more modern and efficient work environments.
Businesses need to provide Gen Z workers with the tools and technologies needed to succeed in their roles. This can include cloud-based collaboration tools, virtual communication platforms, and mobile-friendly applications.
4. Create a flexible work environment
84% of Gen-Zers say that work-life balance is important to them. They are more likely to choose employers who offer flexible work arrangements, like remote work or flexible hours.
Businesses need to create a flexible work environment that accommodates the needs of Gen Z workers. This can include offering remote work options, flexible work schedules, and paid time off for personal pursuits.
5. Offer competitive compensation and benefits
When it comes to job opportunities, Gen Zers are more likely to choose employers who offer fair and competitive compensation.
This includes salary and benefits such as health insurance, corporate discounts, tuition reimbursements, and paid time off.
To learn more about how benefits are evolving to meet modern workforce requirements, check out this Employee Benefits Study.
6. Foster a culture of collaboration and inclusion
Gen Z and millennials value collaboration and inclusion in the workplace more than any other generation. They are more likely to stay with employers who foster a culture of teamwork, open communication, and inclusivity.
Businesses must create a culture of collaboration and inclusion by encouraging teamwork, open communication, and D&I initiatives.
7. Prioritize work-life balance
84% of Gen Zers believe work-life balance is important, with 57% prioritizing it over financial rewards when considering job opportunities.
Businesses must offer flexible work arrangements, paid time off, and other benefits supporting personal pursuits. This will help retain Next-Gen employees and ensure they can maintain a healthy work-life balance.
Draup for Talent can help companies attract and retain Gen Z talent by using data analytics to understand their preferences, values, and motivations. It can provide insights into where to find Gen Z talent, what benefits and work arrangements they prefer, and how to engage and develop them in the workplace.
It can also help companies foster a diverse and inclusive culture that aligns with Gen Z values like social responsibility and work-life balance.
