Generation Z, born between 1997 and 2012, have entered the workforce and they’re already shaping the future of employment as we know it, according to Joshua Mills, a talent manager at Dariel Software.
A Deloitte survey earlier this year revealed that Gen Zs, and millennials, to a slightly lesser degree, are placing priority on reduced or flexible working hours – despite concerns about the potential impact it may have on finances.
Another survey showed that 73% of Gen Zs value a healthy work-life balance more than a high salary. These respondents were also prepared to leave if their needs aren’t met: 83% considered themselves job-hoppers.
So, how can companies retain top talent – especially in fields like tech, where skilled workers are in high demand?
Mills said these trends were certainly evident in the workplace.
“The new generation values their personal time a lot more than previous generations did. They make a more concerted effort to look after their well-being by trying to strike a balance between their work and personal lives. They favour work opportunities that offer some flexibility – organisations that offer hybrid or remote work, for example, have greater appeal than companies that require employees to be in the office daily,” he said.
To make this flexibility work, employers need to ensure that there are open channels of communication.
Of course, giving people adequate time off won’t be enough to retain the brightest stars in any given industry. Mills said that even though Gen Z valued having personal time, that did not mean they’re not ambitious.
“They always want to feel like they are moving forward in their careers. The moment they feel stagnant or undervalued, they may move to other companies that can provide a new challenge and growth opportunities.”
On the flip side, he said, managers needed to be sure to manage the expectations of those with lofty ambitions.
“Some want to move up the career ladder as quickly as possible. Such goals can be a great thing, but sometimes that can create unattainable expectations. Regular feedback is critical in nurturing young talent,” he added.
BUSINESS REPORT