Generation Z will soon surpass Millennials as the most populous generation on earth, with more than one-third of the world’s population counting themselves as Gen Zers. To better understand the challenges facing this rising workforce and their impact on employers and the workplace, Deloitte worked with the Network of Executive Women (NEW) to dive into their individual behaviors, attitudes, and preferences.
WHAT GENERATION Z WANTS AT WORK
Generation Z is radically different than Millennials, this generation has an entirely unique perspective on careers and how to define success in life and in the workforce. If given the choice of accepting a better-paying but boring job versus work that was more interesting but didn’t pay as well, Gen Z was fairly evenly split over the choice. Thus, companies and employers will need to highlight their efforts to be good global citizens and must demonstrate too.
Diversity matters to Gen Z through many dimensions, not just isolated to race and gender but also related to identity and orientation. Companies that can better represent the spectrum of differences in their external branding/marketing are much more likely to diversify their talent pipelines.
THE FUTURE OF WORK
As the “work” itself is changing and evolving, the future of work will call for a return of the Renaissance figure: a person with many talents, interests, and areas of knowledge. It will require a fusion of four key work skills:
- Digital tools and technology skills
- Comfort with analytics and data
- Business management skills
- Design and creative skills
NEW CHANGE FOR EMPLOYERS
For organizations to attract and retain the best and brightest of the generation, it will require a different mindset.
- To attract Gen Z, employers must be ready to develop robust training and leadership programs, with a real and tangible focus on diversity.
- Establish internal apprenticeship programs, or hire smart, talented people and then match them with a role once inside the organization.
- Consider partnering at the university level to adopt top talent.
- Create latticed career paths and multiple work formats.
- Set up internal marketplaces to match projects with needed skill sets.
- Leverage the expertise of Gen X, Gen Y, and Boomers to help mentor Gen Z into strong leaders.
- Consider the attractiveness of the industry and the reputation of your company and plan accordingly.
