How to prepare the workplace of today for Generation Z
They have been called the first generation of digital natives because they’ve grown up with smartphones and social media. In fact, some sources have even dubbed them The Smartphone Generation. They’re constantly connected thus accustomed to being able to search for information themselves, see quick results and make individual choices from a wide range.
On a mission
While past generations long since refused to grow up, Generation Z have grown up fast. They are described as more pragmatic than those born in the ‘80s – who are often considered idealistic. Perhaps the financial crashes of the 21st century have given them a greater need for security. Perhaps they simply do as all generations have done and reacted to their parents. Generation Z have, after all, been raised by Generation X, who indulged in sabbatical years, went to all-night raves, and backpacked around the world to find themselves. Generation Z have instead arrived with a mission to undo climate damage and save the world.
Developing skills through working
How does today's constant access to information affect the view of knowledge and education? Many of Generation Z are reluctant to take out expensive student loans and spend years on traditional education. Instead, they want to gain professional knowledge from their employers.
In today's changing work life, it’s not realistic to think that one will be fully educated within a profession while sitting at a school desk without the need to update one’s knowledge or change path a few times along the way.
Authenticity and values
Environment and gender equality are important issues for Generation Z with 60% saying they want to have an impact on the world, according to a study by marketing agency, Sparks & Honey.
As digital natives, Generation Z are also accustomed to quickly deciding whether messages are authentic or not, making them difficult to reach with traditional marketing. Instead, Generation Z listen to recommendations from influencers.
Generation Z want to feel connected to an organisation’s core values. Therefore, employers hoping to attract Generation Z should focus on building an employer brand based on strong and credible values.
Increased freedom of choice = increased stress?
Generation Z have grown up in an age where choices seem endless. In today’s high schools, one can, for example, study nature or social science programmes, as well as dog hairdressing, circus artistry or how to be a successful YouTuber.
With greater choice, there will be increased individual responsibility, and, according to some analysts, increased stress – not least when it comes to personal finances.
According to a recent report from insurance company Skandia, those born in the 1990’s need to save more than twice as much in their own pension capital as those born in the 1960s in order to get 80% of their final salary pension scheme.
Don’t be surprised if occupational pensions and access to independent investment advice become much in-demand employee benefits for Generation Z in the next few years, despite the fact neither were among the ten most appreciated benefits in 2018.
The health paradox
There have many reports about the increased mental illness of young people in recent years. Among the explanations are everything from too much screen time to growing socioeconomic divisions. According to a 2018 survey by GENYOUth and Thrive Global, approximately one in three kids feel stressed about their health and wellbeing.
On the other hand, stigmatisation around mental illness, including depression and stress, has decreased, which makes it difficult to determine whether young people really have worse mental health today or if they are merely better at putting words to how they feel and better at asking for help?
Despite stress alarms and sedentary screen life, health is generally seen as important to today's young people. For example, smoking and alcohol consumption has decreased compared to previous generations, according to a 2018 report from the British Pregnancy Advisory Service: Social media, SRE and Sensible Drinking: Understanding the dramatic decline in teenage pregnancy. Many employers today offer healthcare benefits to encourage healthier lifestyles. Employers can also offer employees healthcare benefits such as KBT therapy and psychological support as part of their employment.
High wages or higher purpose?
Universum’s World’s Most Attractive Employers 2019 report explored what today’s students demand from their future employers. It found job stability, work-life balance and the feeling that the work has meaning at the top of the list. Those priorities can explain why the public sector lists significantly higher than previously hyped industries such as media and marketing.
At the same time, the report points out that Generation Z expects higher entry-level salaries than their Generation Y counterparts. Where millennials are often seen as idealistic and motivated by purpose over money, Generation Z want security and money. But it’s not just salary; employers would be wise to support Generation Z by providing a benefits package complete with lifestyle benefits and financial wellness tools as part of their compensation.
Want to know which are the most desired employee benefits? Benify surveyed more than 20,000 employees and HR leaders from over 100 organisations across a variety of industries. The survey collected insights across topics including benefits, rewards, engagement, communication, pension, personal finances and more. Download the Top 10 Employee Benefits.
Welcome to the workplace Generation Z!
This article is provided by Benify.
In partnership with Benify
Benify offers the market's leading global benefits and total reward platform.
